STATE ADVANCES
INCREASE OF LIMITS,
The Hon. Arthur Myers, ActingMinister of Finance, informed a reporter yesterday that at a Tecent meeting of the State Advances Board, it wis decided to extend the limits for lending to local authorities and to settlers, who desire to procure homes.
The board proposes tfiat the limit to local authorities should be extended to *£10,000 instead of .£5090 in any year, and that tne' limit to settlers who desire to procure homes should be extended to J3ICOO instead of ,£450 as hitherto. This extension would not include loans for repayment of mortgages unless especially authorised by the board. The object of the board is to assist people to procure homes, but it does not desire to take over a large number of mortgages, which would undoubtedly bo the result if it did not make- the restriction mentioned. Tho existing condition with regard" to taking over mortgages not in excess of .£450 will still continue to hold good."The following limits," 6aid "M'r. Myers, "will, therefore, in the future, be observed Local authorities ... .£IO,OOO in any year Settlers .£I,OOO for obtaiping homes or for improvements ,£450 for repayment . of mortgages Workers 1 The full statutory limit of : .£459."
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/DOM19190520.2.21
Bibliographic details
Ngā taipitopito pukapuka
Dominion, Volume 12, Issue 201, 20 May 1919, Page 4
Word count
Tapeke kupu
201STATE ADVANCES Dominion, Volume 12, Issue 201, 20 May 1919, Page 4
Using this item
Te whakamahi i tēnei tūemi
Stuff Ltd is the copyright owner for the Dominion. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in