REDEMPTION OF MORTGAGES
USE OF GOVERNMENT LOANS Early in 1926 the State Advances Department announced that in future the practice of granting loans for the purpose of discharging existing mortgages would be discontinued. Mr. W. J. Jordan, member for Manukau, has now taken the matter up, and yesterday wrote to Sir Joseph Ward, as Minister of Finance, stating that a considerable number of people are in difficulties because of having to renew mortgages, entailing much trouble and expense, and. at the s*ame time, being compelled to pay higher rates of interest than those fixed for Government loans.
Mr. Jordan has asked the Prime Minister if he will empower the State Advances Office to again entertain applications for loans to redeem existing mortgages, as was the practice prior to 1926.
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Bibliographic details
Sun (Auckland), Volume III, Issue 668, 21 May 1929, Page 18
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129REDEMPTION OF MORTGAGES Sun (Auckland), Volume III, Issue 668, 21 May 1929, Page 18
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