P.O. move will ‘hit’ home deals
PA Auckland Many purchase deals will collapse because the Post Office will no longer lend to non-customers, says Mr Dick White, chairman of the group, Major Home Builders. “It is the low-income, first-home buyers who were relying on the Post Office for second mortgages who will be worst hit,” he said yesterday. “There is just no second mortgage money available from other sources for people who qualify for a first mortgage from the Housing Corporation. “Even if there was, the corporation’s limits on their outgoings would bar them from getting a high-interest second mortgage.” Mr White said the loans which were offered by the Post Office for non-cus-tomers were hardly low at 19 per cent. “But they were lower than the 28 per cent they would have had to pay a finance company.”
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19850629.2.154
Bibliographic details
Press, 29 June 1985, Page 27
Word Count
139P.O. move will ‘hit’ home deals Press, 29 June 1985, Page 27
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