CONFIDENTIAL 機密
ANNEX TO XCC(78)58
Assuming that the owner of a flat valued at
$100,000 purchased one for $150,000, he would be entitled
to assistance based on a mortgage of $50,000 made up as
follows:
$
Cost of New Property
150,000
Value of Resumed Property
100,000
50,000
The assistance in this case would amount to
$22,290 made up as follows (based on the assumption that
the average current mortgage rate is 10.5%) :
$
Monthly Cost of Mortgage
of $50,000 at 10.5%
over 12 years
626
Monthly Repayment of $50,000
over 12 years at no interest
347
Additional Monthly Cost to be
279
met by Government
Monthly Cost of Mortgage of
$27,710 (being $50,000
less Assistance of $22,290) at 10.5% over 12 years
347
G.F. 323
CONFIDENTIAL
機密