To Correspondents.
“ Regular Reader.”—The 20 per cent reduction in interest applies to a mortgage that had expired on April 1 last, and had not been called up or renewed, subject to the proviso that the rate of interest is not brought below 5 per cent. If a mortgage has been renewed at 6 per cent since April 1, however, it is very doubtful if the reduction in interest could be claimed by the mortgagor.
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Bibliographic details
Star (Christchurch), Volume XLIV, Issue 457, 19 May 1932, Page 8
Word Count
74To Correspondents. Star (Christchurch), Volume XLIV, Issue 457, 19 May 1932, Page 8
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