Sharechat Logo

Harcourts' fantastic plastic

By Campbell McIlroy

Friday 28th April 2000

Text too small?
Real estate firm Harcourts is launching a credit card that will give homeowners up to 100 days' interest-free credit.

The Harcourts Card, a venture with finance company AGC, allows homeowners to borrow $500 to $10,000 to put toward marketing campaigns or making improvements to the property before sale. An average marketing campaign in Auckland can cost $2000-4000 and $1000-2000 in other centres.

The scheme is based on an Australian model which Harcourts says has enjoyed great success.

Research shows most properties sell within 100 days, after which the vendor can either pay back the debt, avoiding any interest charges, or pay off the balance in instalments.

The card has an application fee of $35, with approval taking as little as an hour and funds available within 48 hours. After 100 days, interest is charged at 21% with a minimum monthly repayment of 3% of the balance.



Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.
Bookmark and Share   Printable version
Related News

MARKET CLOSE: NZ shares down, Air NZ and Vector fall, as markets mixed ahead of May's Brexit speech and Trump inauguration
NZ, Israeli business relations seen as sailing through sour diplomatic affairs
NZ dollar little changed before dairy auction as futures fall, traders await May speech
IRD follows IRS lead, audits Microsoft NZ over transfer pricing
Postr raises $3 million from NZVIF, Singapore-based investors to fund expansion into Asia
Powerco eyes price hikes to pay for $1.4 billion network upgrade
NZ Oil & Gas takes control of Cue Energy almost two years after launching full takeover offer
NZ median house price slips 0.8% in December from November's high
ANZ New Zealand, NZOG join early 2017 executive reshuffle
NZ firms stay upbeat in December on building boom, rural recovery

IRG See IRG research reports