SUPERANNUATION
FUNDS
Housing
loans are sometimes available to people who contribute to retirement
or superannuation schemes. Such schemes allocate first house loans
through a waiting list to members. Typical terms and conditions are
as follows:
- term: 30 years
- interest rate:
usually 1 2% below outside rates.
Superannuation
funds also finance large investment developments, existing
properties, and mortgages. They have increased their share of the
property market at the expense of the insurance companies.
See
real
estate finance