Q 1 – What does Liberty Trust do? Q 2 – How does it work? Q 3 – Is the loan really interest-free? Q 4 – Can anyone join? Q 5 – What happens to my contribution? Q 6 – How soon can I be offered a loan? Q 7 – What about the loan repayments? We ask that the loan is repaid within 7-12 years, so you can become debt-free and the funds can be re-lent to help others as soon as possible. The loan repayments are arranged based on your situation at the time of lending. Q 8 – Can you provide an example? Contributions for a $350,000 interest-free mortgage = $50,000 to LT charity Here's an alternate example where $50,000 is used as an (approx) 15% deposit for the bank: Contributions for a $350,000 interest-free mortgage = $50,000 to LT charity
Q 9 – How much deposit will I need? Q 10 - How much should I contribute? For a loan in our standard time we recommend you contribute $30 per week per $100,000, eg $90 per week (or $400 per month) for 9 years for a loan of $300,000. Sometimes we are able to lend our standard loans in 8 years not nine. If you don't want to wait 8 or more years you can contribute more for faster memberships:
Q 11 – Can I contribute a little now and increase later? Q 12 – Do I have to wait before buying a home? No, if you want to buy your property immediately then don’t wait for us. We can replace your mortgage with an interest-free mortgage when it is available. Q 13 – How safe is Liberty Trust? Liberty Trust is a New Zealand charitable trust, operating since July 1989, and we report to two local churches. We have been approved by an independent qualified actuary and our financial accounts are audited annually and available to the public. Unlike the banks, we don’t borrow or leverage. As we have no debt we are not subject to interest rate or credit fluctuations and so you have the certainty of knowing from the outset what your cost will be. Interest rates can rise or fall but your contribution and repayment rate will not change. Q 14 – Would Liberty Trust be suitable for my children? It’s particularly suitable for them. Many parents start memberships for each of their children (minimum is $20 per week). As each child begins earning they can take over the membership and add to the contributions themselves. Your children and young people can be debt free decades sooner than their peers and save paying many hundreds of thousands of dollars in interest. By joining the Liberty Trust community they can help others and be invited to borrow for their home without interest following principles laid down in the Bible over four thousand years ago. Q 15 – Would Liberty Trust be suitable for my church? Yes! Instead of paying hundreds of thousands in rent or interest at commercial rates your church can borrow interest-free while supporting God’s Kingdom. To borrow $600,000 from a bank you would need a $400,000 deposit plus you would usually pay over $300,000 in interest. To borrow $600,000 from Liberty Trust you would just contribute $100,000 to help others, no deposit is required, and no interest is charged, saving $300,000 for God’s Kingdom! If you decide not to go ahead with the project your contributions can be requested back by the church. See Interest-free Church Buildings for more information. Q 16 – How can I join? You can download our joining form and set up your contributions to the Liberty Trust bank account 38 9020 0768106 00. Or send us an email to info@libertytrust.nz or call us on 0508 Liberty (which is 0508 542 378) should you have any questions. Our website includes teaching, videos, endorsements from Christian leaders and scholars and over 250 inspiring testimonials from New Zealanders who have received interest-free loans.
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