How
Does It Work?
God’s
people donate funds to Liberty Trust and are offered an interest-free
mortgage, five times the total they
have contributed after approximately 10 years.
There are also options to contribute more and receive a loan offer sooner.
As we are a registered charity donations are eligible for a 33% tax credit
through the Inland Revenue.
Loans
are offered by Ark Resources Ltd in the order
participants join Liberty Trust. There
is a $400 administration fee when the loan is provided, subject to normal bank
lending conditions. The standard
seven-year loan term can either be increased by one year for every extra year you chose
to wait to receive your loan, up to a maximum loan term of 15 years, or by
higher contributions.
An
Example
Here’s
an example comparing the cost of contributing to Liberty Trust then receiving
a $300,000 interest free mortgage, compared with borrowing $300,000 from a bank
at 7.5% pa:
|
Liberty
Trust
Contribute
over 10 or more years
Less 33% IRD annual donation tax creditContribute
over 10 or more years
Less 33% IRD annual donation tax credit *
if applicable
Total
Cost to you
|
60,000
-20,000
$ 40,000 |
|
|
Or |
Bank
Mortgage
7.5% Interest on $300,000 mortgage repaid over (say) 25
years
|
$ 365,092 |
|
Difference
= |
$
325,092 |
Note
the 25-year $300,000 bank mortgage above is repaid at $512/ week.
An interest free mortgage would take 11.25 years to repay at $512/ week -
the same repayments but for half the time, saving you almost 14 years of mortgage repayments and over $325,000!
This
is the Bible’s “Sowing and Reaping” blessing in practice.
Imagine
the possibilities for the Kingdom of God if more of God’s people financed
their homes and churches this way!
Your
family
We
spend most of our working lives paying off a mortgage. Then, when we finally
finish, we watch our children commence the same cycle. With rising rents, house
prices and student debt buying a home is becoming increasingly difficult.
This
deadly cycle can be broken by sponsorship. God’s pattern is for parents to
provide for and teach their children by both word and example (Prov 13 v
22, 1
Tim 5 v 4b & 8). Liberty Trust is an ideal way to assist your children
or grandchildren into interest free home ownership, and at the same time
introduce them to the Bible’s method of family support for one another. When
they are able, they can take over the contributions themselves. We have seen great blessing as children continue the
example of their parents. Many will then sponsor their children in turn. You can
establish a biblical blessing and heritage for future generations!
Your
descendants need never pay mortgage interest! What a blessing!
Your
Church Leader Or Overseas Missionary
Liberty
Trust is also an ideal way to bless your pastors, missionaries, and Christian
workers and provide for church buildings interest free. People most deserving of
help are often least able to afford to sow financially and therefore miss out on
the financial blessing. As well as benefiting them you are giving into
God’s Kingdom and helping many others at the same time.
Is
it Safe?
Liberty
Trust is an approved
charity and reports to two
local churches.
All of the Trust’s $6 million capital is invested in short-term mortgages secured over New
Zealand-registered properties. Our trustees are un-paid and our overheads are
minor, enabling your donation to be lent and re-lent interest free to assist
many other New Zealanders* see model.
We have been approved by the Inland Revenue Department in 1989 and the Charities
Commission in 2007 and by a registered actuary
in 2009. We have over 150 testimonies
from grateful participants on our website. Our financial accounts are audited annually and available
to the public.
As we do not borrow we are more secure than
banks. We invest only in people.
Tell
Me More
You
can learn more by viewing our website www.libertytrust.org.nz.
This
includes frequently asked questions, teaching, newsletters,
application forms, endorsements
from Christian leaders and scholars, and over 150 inspiring testimonials
from New Zealanders who have received interest free loans.
For
further information please contact us:
A Better Way to Own a Home
Download Model
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