Mortgages
Sir,—ln reply to several correspondents, the question concerning the actual amount of interest paid was not answered in my earlier reply because, for the reasons outlined in that reply, I considered the question to be largely hypothetical. However, for the benefit of your correspondents the information they seek is: $252,201 over a 70year term compared to $90,584 over a standard 25-year term. As they will appreciate, it is a simple mathematical fact that the longer the term of a loan the more interest is paid. I repeat that our mortgage term is flexible and we are happy to arrange a term which best suits the borrower. —Yours, etc., R. T. BRAY, Deputy general manager, Trusteebank Canterbury. March 11, 1986.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19860313.2.110.2
Bibliographic details
Press, 13 March 1986, Page 20
Word Count
120Mortgages Press, 13 March 1986, Page 20
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