STATE ADVANCES
CORPORATION LOANS
MARGIN OF SECURITY
An article :headed, "House Properties" appearing in the "Evening Post" on Saturday, was the subject of a statement by the Acting Prime"Minister and Minister in Charge of the State Advances Corporation (the Hon. P. Fraser) today. ,
"The writer of the article is under a misapprehension as to the conditions applying in respect of ordinary twothirds advances from the State Advances Corporation," said the Minister. "Apparently' he has ' confused the ordinary two-thirds advances with the special ■ loans, section of the Corporation for'the erection.of new houses. Regarding ;the latter the Government has. made provision for. families with incomes not in excess of £6 a week— and' a slight variation of this limit, is permissible—to borrow 'money for building homes at a margin of security in excess, bi US 2-3 per cent; Under the ordinary business section of the Corporation ;no conditions are applicable as regards-salary or income for an'ordinary two-thirds loan." ,'
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https://paperspast.natlib.govt.nz/newspapers/EP19370412.2.140
Bibliographic details
Evening Post, Volume CXXIII, Issue 85, 12 April 1937, Page 11
Word Count
156STATE ADVANCES Evening Post, Volume CXXIII, Issue 85, 12 April 1937, Page 11
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