MORTGAGE INSURANCE ON HOUSING LOANS
_ ^ Ex-scrvicemen who are granted a rehabilitation housing loan up to the loan lirait of £1500 may, in suitable cases, reeeive further assistanee to nieet the single premium payable should they take out raortgage repayment insurance, says a statement from the Rehabilita tion Board. Nornially the board assists in this way where the loan plus the premium together do not exceed £1500; it has now been decided that where £15( 0 has been reaehed for loan pur poses, then an advanee up to £50 should also be made, where desired, for mort gage repayment insurance. The advanee would be made at tlie rate of 3 per cent. and would be re payable over a relatively sliort term appropriate to tlie amount advaneed and to the circumstanees of the ,bor rower. Similar extra loans have pre viously been provided to .assist ex servicemen -meet stamp duty and lega costs on tlieir housing transaction. The board's latest deeision is 11. furtherance of its policy of eneouragmg ex-servicemen to take out mortgage in surance on properties bouglit or ereeted with rehabilitation finance.
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Bibliographic details
Chronicle (Levin), 23 August 1947, Page 8
Word Count
183MORTGAGE INSURANCE ON HOUSING LOANS Chronicle (Levin), 23 August 1947, Page 8
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