ASSISTING SOLDIERS

Southland Times, Issue 18833, 28 May 1920, Page 7

ASSISTING SOLDIERS

NEW REGULATIONS GAZETTED,

Ainendinc: regulations under the Discharged Soldiers’ Settlement Act have been gazetted. In order to encourage the early payment of the instalments of the principal and interest payable for any advance under section 2 of the Discharged Soldiers’ Settlement Act. 1917. it is provided that if the mortgagor is not in arrears and pays an instalment on or before its due date, or not later than the 14th day thereafter, lie is to he entitled to a rebate of one-tenth of the amount due as interest.

Another important decision has been come to in regard to case-- where the senility offered for advances is not sufficient to warrant loans being granted for a term of 30 j years or ‘Jo’A years. The land boards have frequently been faced with propositions for the purchase of houses, for instance. which obviously would not provide good security for the full te-ni, and m Hie past they nave had no option but to reject the applications. By the new regulations, however, advances may he made in Voeh rases as the Minister may approve, repayable by half-yearly instalments over a period of 10, to or 20 years as may he deemed suit; iilc in the circumstances.