Page 8 Advertisements Column 3

Bay of Plenty Beacon, Volume 13, Issue 32, 13 December 1948, Page 8

gg: 1 fca y FA AMP SOCIETY? TABIE HOW DOES if OPERATE? y uneter f£e MORTGAGE SYSTEM 'inemC€? A fixed half-yearly payment is made which includes both r principal repayment and interest. The loan thus grad- ,■ ually reduces and is repaid entirely at the end of 25 years. WHAT DOES IT COST? An annual payment of £65-6-8 will completely repay a loan of £IOOO in 25 years. The total commitment for both principaL&nd jnterest, is thus approximately 6£% of the amount borrowed. . HOW DOES A LOAN OF £IOOO REDUCE? Amount owing after 5 years have elapsed £875 »» »» »» 10 m » » 719 »» m M 15 n ip ip 528 » »* a 20 n a a ■ 292 „ „ 25 „ „ „ Repaid in full F- ; ' y CAN INTEREST RATE BE INCREASED? No —interest remains at 4£% throughout the whole term of 25 years. CAN ADDITIONAL AMOUNTS BE REPAID? Yes. Up to a maximum of £2OO per £IOOO of the original loan may be repaid each year. The borrower would then have the option of paying a reduced instalment or the original instalment for a shorter period. JL.M.P, SOCIETY (Incorporated in Australia) FOR FARM FINANCE GENEROUS ADVANCES - EASY PAYMENTS YOUR NEAREST OFFICE - VICTORIA STREET. HAMILTON A. E. Carrington—District Manager. N. C. Crozier— Manager for New Zealand.