BORROWERS.

A member desiring to effect an immediate
purchase of a house or property may borrow the
money required by depositing the title deeds
with the society as security, and repaying the
loan by instalments, monthly or quarterly.
Or if he elect to build a house himself; he
deposits the deeds of the land with the society
and takes up a loan by instalments as the work
proceeds. In this case an architect or surveyor
would have to give a certificate from time
to time to the effect that so much money could
be advanced upon the work actually done; and
the repayment of the loan would only begin
when the house was finished. The following
table shows the repayments required, including
interest for each £100 advanced:-

--------------------------------------------
| Term of years. | Monthly. | Quarterly. |
|----------------|------------|------------|
| | £ s. d. | £ s. d. |
| 1 | 8 14 0 | 26 4 6 |
| 2 | 4 10 0 | 13 11 4 |
| 3 | 3 3 0 | 9 9 11 |
| 4 | 2 8 9 | 7 7 0 |
| 5 | 2 0 3 | 6 1 4 |
| 6 | 1 14 7 | 5 4 3 |
| 7 | 1 10 6 | 4 12 0 |