How will it effect new and long-term mortgagors/owners?
Those who have, not long prior to the changeover, taken on a mortgage over a residential or commercial property may feel ill-served by such a site rent for revenue system as they will be obliged to pay both the mortgage repayments, and at the same time be liable for the community site rent. They are no worse off though and in fact are probably better off, because; • Employment conditions & wages will greatly improve due to the increase in small business. Other spin offs include a safer society, better public transport and reduced overall household debt pressures. • The long-standing mortgage payer has been liable for a comparatively similar amount, but over a longer period, but will never the less still be liable for the same site rent. • For the newer mortgagor, in all likelihood interest rates in the new system would decline dramatically, due to both a decline in site values and therefore demand for finance, making the mortgage effectively cheaper. On top of this, both the above mort
