STATE ADVANCES

Wairarapa Times-Age, 12 August 1939, Page 7

STATE ADVANCES

EXPANSION OF HOUSING LOANS. LAST YEAR'S OPERATIONS. (By Telegraph—Press Association.» WELLINGTON. This Day. Nearly 70.000 loans, aggregating more than £57,000.000, are being administered by the State Advances Corporation. This is shown in the annual report of the board of management of the corporation for the year ended March 31, which was presented in Parliament yesterday. "A keen demand for loans has been experienced,” the report says, and in view of the policy of giving building loans preference, particularly during the latter part of the year, advances to applicants for the erection of new dwellings have shown a steady increase, and number no fewer than 2120 loans, aggregating more than £2.060.000 compared' with 997 building loans, amounting to approximately £825,000. the previous year. . “Mortgage advances authorised toi all purposes numbered 4712. aggregating £4.260,391, compared with 3187 advances. amounting to £3,004,546, in the previous year. It should be mentioned in passing that the board has difficulty at times in reconciling the rental value with the cost of the project, which, of course, has an important bearing on the amount that can be lent in individual cases. The total number of loans under "administration is 69.8.33. in addition to the rental administration of the Stale housing scheme.’