Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search


Mortgage Calculator will inform sound decisions

Hon Ruth Dyson
Minister for Social Development & Employment

5th June 2008
Mortgage Calculator will inform sound decisions

The introduction of a quick reverse mortgage calculator is an important step in assisting older people to assess the implication of taking out an equity loan says Social Development Ruth Dyson.

"Many older New Zealanders are sitting on valuable properties, with their main source of income being their NZ superannuation. Home Equity Conversion schemes allow older people to release some of the capital they have in their homes so that they can improve their lifestyle and age in the comfort of their own home,"said Ms Dyson.

"By putting a calculator on the Sorted Website, the Retirement Commissioner is making a service available to older people that will help them look at the effects of compounding interest, changing property values and different levels of borrowing."

"This is an important step for people to understand how reverse mortgages operate," said Ms Dyson.

The availability of a calculator, on a neutral website, used by many people looking for financial information, ensures that they are able to make their choices and explore their options without any form of pressure.

"The Government has nearly completed the development of minimum standards in a code of practice which will provide protection for older people and give them a degree of confidence in these schemes.

"This is all part of our work to ensure that New Zealanders have the information they require to make good investment decisions and this is particularly important to many older people," said Ms Dyson.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Another Leader Exiting: Statement From Peter Dunne

I have concluded, based on recent polling, and other soundings I have been taking over the last few weeks, that, the volatility and uncertainty notwithstanding, there is now a mood amongst Ōhāriu voters for a change of MP, which is unlikely to alter...

“I have therefore decided that it is time for me to stand aside, so the people of Ōhāriu can elect a new electorate MP. More>>


Gordon Campbell: On Labour’s Campaign Launch

One of the key motifs of Ardern’s speech was her repeated use of the phrase – “Now, what?” Cleverly, that looks like being Labour’s response to National’s ‘steady as it goes’ warning against not putting the economic ‘gains’ at risk. More>>


Lyndon Hood: Social Welfare, Explained

Speaking as someone who has seen better times and nowadays mostly operates by being really annoying and humiliating to deal with, I have some fellow feeling with the current system, so I’ll take this chance to set a few things straight.. More>>


Deregistered: Independent Board Decision On Family First

The Board considers that Family First has a purpose to promote its own particular views about marriage and the traditional family that cannot be determined to be for the public benefit in a way previously accepted as charitable... More>>


Transport Policies: Nats' New $10.5bn Roads Of National Significance

National is committing to the next generation of Roads of National Significance, National Party Transport Spokesperson Simon Bridges says. More>>


Gordon Campbell: On Why Labour Isn’t Responsible For Barnaby Joyce

As a desperate Turnbull government tries to treat the Barnaby Joyce affair as a Pauline Hanson fever dream – blame it on the foreigners! We’re the victims of the dastardly New Zealand Labour Party! – our own government has chosen to further that narrative, and make itself an accomplice. More>>


Rail: Greens Back Tauranga – Hamilton – Auckland Service

The Green Party today announced that it will trial a passenger rail service between Auckland, Hamilton and Tauranga starting in 2019, when it is in government. More>>


Housing: Voluntary Rental Warrant Of Fitness For Wellington

Wellington City Council is partnering with the University of Otago, Wellington, to launch a voluntary Rental Warrant of Fitness for minimum housing standards in Wellington, Mayor Justin Lester has announced. More>>





Featured InfoPages

Opening the Election