Rough deal for mortgage-holders
New administrators of Landcorp mortgages charging high interest rates on late payments
Wednesday, February 11th 2004, 9:51PM
by The Landlord
Agricultural enterprise Landcorp, has sold 418 mortgages for residential, commercial and rural properties to Mortgage Holding Limited, which is run by a group of Auckland lawyers.
However, some of the mortgage-holders, who are mostly superannuitants, have struck problems with late payments. Most of the affected people bought property from Landcorp some years ago on a lease-to-own basis.
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| « BNZ, Kiwibank join others in hiking floating mortgage rates | Lianne Dalziel: Address to Master Builders » |
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