captain kirk wrote:murchr wrote:captain kirk wrote:washiku wrote:captain kirk wrote:This is a white elephant. Anyone who has worked in civil service knows it cannot be implemented.
Explain...
In the Ministry of housing, there has always been Civil Servants Housing Scheme. They give civil servants morgages at 5% p.a. It sounds reasonable rate. The TRICK is you will never get this facility as the STORY they give you is that the fund has NO MONEY. They then put you in a long queue of waiting list.
I thot you get it from a bank? I know several ppl who have
Ask yourself why a bank will offer a mortgage or car loan at a lower rate without being compensated? This idea works only if limited to a few people. If open to every civil servant, the cost of implementation will be too high. The devil is in the details
Not everyone gets their loans at the same rate. Even at 5% the bank is still getting their money, my understanding is that the judiciary employees get their loans at 3%, what about the bankers? I guess what matters is the risk. The Civil Service is the most "secure" employment we have in this country.
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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