Position of Mortgagee
Sir, —I should like to congratulate “A Mortgagee,” Palmerston North, on having a wealthy man as mortgagor, and thus being assured of his interest. Thousands of mortgagees would be well pleased to be in that position. . I ar" certain that the act of reducing interest bv 20 per cent, was the best piece of business put through by the Government. Assuming “A Mortgagee ’ got 65 per cent., he no w gets £o/4/- per cent, th a. would be £lO4 on his £AX)O. Compare this with working men who have suffered a reduction in wages of up to 50 per cent, in my case £BO a year. Yet that u not all; my mortgage fell due and I hau to pay 6 per cent to renew it In mv opinion, it should have been provided that no interest higher than o per cent, be allowed. It has been the hign rate of interest that has crippled us, t am. etc., WILLIAM JOHNSON. Napier, January 24.
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https://paperspast.natlib.govt.nz/newspapers/DOM19330126.2.122.7
Bibliographic details
Dominion, Volume 26, Issue 104, 26 January 1933, Page 11
Word Count
167Position of Mortgagee Dominion, Volume 26, Issue 104, 26 January 1933, Page 11
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