MONEY ON LOAN FOR WORKERS' HOMES.

Horowhenua Chronicle, 20 June 1910, Page 2

MONEY ON LOAN FOR WORKERS' HOMES.

•« Ti 110 "ALREADY IWI'vOTED" THOIMIIiU. AM ftXDM KXT rUGBD BY Ml? I'M ELD, M.P. A deal of disappointment, and. in some cases, loss «nd inconvenience. lms been caused tlir<msj!;h it having recently 'been discovered that under the law a.s it at present .stands it is impossible tor workers to borrow moneys on homes whie>h :<Yive been already erected. The A eftas it stands only provides lor borrowing for tho purpose of erecting homes. This is a defect of the law, foi the legislature fully intended (hat workers should luive the advantage of t'he Act for ilie purpose of buying hou'-t's already built, and for the purpose of borrowing mon/ey on bou«i-\s already built bv them, a.s well is houses about to Le 'built. Mi W. T-r. Kield. M.l\, has recently made <a strong recommendiaition to the Prime Minister, as Minister foi Finance, urir;inlc 'file oil' ■uni'iidinir the l:t*v at the earliest possible date. In some cases leans liave been approved, valuation fees paid, th:' ln.ortjsajTe.s actually signed. and menetarv obligations entered into bv t'he applicants nrinr to (the defect oif tin l law beincc discovered. Tn .sueli t,he aj)nlif*Jiiii + .<? 'hare to face the position of having to pav ela,ims wben t'hev have no funds in hand wherewith to meet the same, t;h-> '' 'u tli ,v v Im'l looked for f'.avinrr fail"d at. the lr».«t moment, for tile rei''nu nieni+ioii"']. Til ') to ri" n .f +,I.;c, 'mnrn:i 1 en <be sub "Uv Fi-V •■'ale'' <I|!it h:> luic little doubt tl'ni l1, (> f' f|"'' vive .n | \\ |')| e.w, 'v ef iufi-vlni-ina: n I>ill +••> r -"t tin* verv early in thr> s.t mori.