Mortgage rates
Sir,—Most mortgage payers would have experienced a considerable upswing in their repayments recently, with some interest rates nudging the 20 per cent mark. The banks and building societies tell us they have no alternative, with pressure from investors. At this point I feel struggling house buyers should be aware that while banks “reluctantly” lift rates, they still manage to give their own staff “cheap” mortgages. The going rate for an employee, I understand, is around 5 per cent — a substantial perk by any standard. So the next time your bank “reluctantly” lifts its rates, spare a thought for its employees. Of course, if you are finding things “tight,” the bank will always extend the term of your loan — so you pay them even more interest. — Yours, etc., MICHAEL DEACON. June 19, 1985.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19850622.2.109.5
Bibliographic details
Press, 22 June 1985, Page 18
Word Count
134Mortgage rates Press, 22 June 1985, Page 18
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in