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

UPDATE: Stride says 'stapled structure' protects PIE status while funds management grows
Major investor Devon slashes stake in Tower Insurance
Tiwai Point smelter's earnings plunge in second half of financial year
3pm embargo: NZ sharemilking farmers, pressured by low prices, are least happy with their bank, survey shows
Fat Prophet's Hot Stock: Sonic Healthcare (SHL.ASX)
Good NZ directors too wary of joining SME boards, FMA's Everett says
Speirs Group calls special meeting to vote on Unlisted move as NZAX winds down
RMA reform bill delayed two months as select committee seeks extension
US private equity firm Blackstone takes minority stake in Partners Life with $200 mln investment
UIL buys shares in wave technology developer Carnegie Wave Energy

IRG See IRG research reports