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The Pamphlet Collection of Sir Robert Stout: Volume 16

Power to Redeem

Power to Redeem.

53. Any Member desirous to redeem his property from a mortgage to the Society before the expiration of page 21 the full term for which it was given, shall be allowed to do so on the payment of all arrears then due to the Society, and of the present value of the future repayments, calculated to the end of the term, and discounted after the rate of five pounds per centum per annum, together with a redemption fee of twenty shillings per cent, on the balance so due.