Page 2 Advertisements Column 1

New Zealand Mail, Issue 1106, 12 May 1893, Page 2

NEW ZEALAND GOVERNMENT INSURANCE DEPARTMENT. LOANS ON MORTGAGE. Ordinary Mortgages. UNDER specis! Acts of Parliament, the Board of Investment of the Govern* ment Life Insurance Department lends part of the Aooumulatid Foods of the Inititotlon OB security of approved Freehold Property, and on terms advantageous and suitable to the Borrower. The sum that may, in aooordanoe with the statute, be leal under any Mortgage is limited te the extent of one-half the value of the proSerty offered at eecarity ; suoh value being etermined by a Valuato* appointed by the The maximum sum which the Board oan advance to any borrower is £5000; and the rates of interest are moderate. In the case of loans from £3OOO to £SOOO specially favourable terms oan be arranged. Mortgage Loans Repayable by Instalments. Besides the usual method of * ordinary' Mortgage for a fixed period, the Department ~'-; has established e eyatom of Loans on Mort* „__ __ ■>! Twelve, Fifteen, or Twenty Year% according to the option of the Borrower. Instalments under Mils form of Mortgage arepeyaWe Half-yearly; at rates which the lollowing tabk specifies :- HALF-YEARLY PERIOD OF LOAN. Pnraentfor each £IOO. £. s. d. For a Loan of Twelve Years diiratfon 6 4 7 For a Loan of Fifteen Years duration 5 8 9 , For aLoao of Twenty Years duration 4 13 8 The sums lent under this table range generally from £IOO to £3OOO ; but in special dreumetanoes, should the Borrower desire it, ; ; the amount may be extended to £SOOO. * '-«-*- both PRIN. STEADILY LIQUIDATED, and the mortgage debt is " lleelly reduoed in a 'manner which is totbo'bonvenient to the Mortgagor, and effete favourable advantages to settlers and others who desire a long tens and easy payaaents for the gradual extinction of the debt at theeloee of the period selected. Balance of Loan Redeemable v.';;,af^'"F^w ; Yoarsv. ';■} Should, however, during the currency any Instalment Loan, cireomstanoea arise whieh naay enable the Borrower to pay the s»ouat still owing, he can, at any time, ATTKB THX MOBTOAOX HAfl EXISTED FOUB ■Moths' notiee of his intention so to redeem, or on paring ste nionthf* uteres*. This light to pey off the entire loan in a manner sgatoi is an advantageous feature, which Borrowers have readily reoogoised. Ths Mortgage Trssfl thus affsrds the option, efter the first four years have passed, of free* as either oourse ma Special Advantages Ottered by this Department No procuration fee or other unneoessary eharges are made on clients applying for Mortgage loan, The Valuers' f o ** ere moderate; and law northern regulated by scale ; ao that charges generally are reduced te a minimum. / JOSEPHUS H. RICHARDSON, Government Insurauoe CoTumlsslener. '*'* Forms of application aad all requisite information, oan be obtained either direct from the Hs*n Omen, IVnxiHaTox, or at the District and Branoh Agencies, • list of whieh appears hereunder. DISTRICT AND BRANCH AGENCIES AUCKLAND. ITIMARU. CHRiSTCHURCH. DUNRDIN. I OAM' RU. [WANGANUL