MORTGAGE RELIEF
AGREEMENTS DESIRED
"■ MINISTER'S COMMENT
(By Telcip-aph—Press Association.)
AUCKLAND, March 1.
It would greatly facilitate the work of everyone connected with mortgage relief administration if the parties would endeavour .to come, to amicable agreements, according to the AttorneyGeneral (the Hon. H. G. R. Mason), who commented on the position before' leaving for Wellington. Mr. Mason said these agreements would-require to be submitted to the Court for approval, and to "secure its sanction they 'should conform to the requirements of the Mortgagees and Lessees Rehabilitation Act, particularly in regard to tlie rates of interest provided for an extended term, and should not exceed the .respective rates specified by Order in Council or the Act.
Mr. Mason added that these maximum rates.of interest were 4$ per cent, for first mortgages on land, and 6'per cent, for other mortgages.
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https://paperspast.natlib.govt.nz/newspapers/EP19370302.2.124
Bibliographic details
Evening Post, Volume CXXIII, Issue 51, 2 March 1937, Page 15
Word Count
137MORTGAGE RELIEF Evening Post, Volume CXXIII, Issue 51, 2 March 1937, Page 15
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