When we found what we wanted, I went to the ANZ Bank, of which I had been a customer from the age of 18, and asked for an 80 per cent mortgage. I was turned down flat.
So I walked down Queen St to a Countrywide Bank branch, and left half an hour later with a guarantee of a mortgage of 90 per cent of the cost of the house.
Naturally, I transferred all our banking affairs to Countrywide until, when it was bought by the National Bank, all our funds went there. And I must say that the service we received from both institutions for decades was always superb.
However, resentments being what they are, when the National Bank was finally absorbed last year by ANZ, I promptly moved all our banking to Kiwibank.
And while I'm on that subject, what a wondrous thing is internet banking. I can't remember the last time I wrote a cheque, and the only time I have to go near a bank branch is to get some cash from its money machine.
Now if you're beginning to wonder what all this rambling is about, it seems to me that next year's general election is going to be fought mainly on the subject of home ownership.
If you don't believe me, then ask yourself why Prime Minister John Key devoted two-thirds of his 3100-word address to last weekend's National Party conference to the subject of house prices and the plight of first-home buyers, particularly in Auckland, Tauranga, Hamilton, Wellington, Nelson, Christchurch and Queenstown.
Rotorua, of course, does not feature because the housing market here has been relatively stable, if torpid, for several years and continues to be. It remains one of the most inexpensive cities in which to buy a home - and long may that remain.
Because sooner or later a lot of people are going to wake up to the fact that house prices in some cities are obscene and start looking for somewhere more affordable and convenient. Tauranga, with its marvellous beaches, glorious sea views and temperate climate is already a beneficiary.
Meanwhile, the Government, Labour, the Greens and the Treasury are all beavering away trying to outdo one another on finding answers to this vexed question. And as far as I can see none is addressing the main problem - that house prices in much of the country are out of control.
My heart goes out to those folk who are lumbering themselves with massive mortgages on overpriced properties and chaining themselves to decades of hefty repayments.
Because there are few events in life which bring such joy and relief as the day the last mortgage payment is made.
garth.george@hotmail.com
