SOLDIERS' MORTGAGES.
HOUSES DIFFICULT TO SELL. INJUSTICE COMPLAINED OF. (By Telegraph.—Press Association.) BLENHEIM, Friday. The curious disability under which returned soldiers are placed if it should become necessary for them to dispose of houses subject to soldiers' mortgages, was referred to at. the annual meeting of tho Marlborough Patriotic Association by Mr. W. J. Girling, M.l'. He said that if a soldier desired to eell his house, he had first to endeavour to find another soldier as a purchaser, and, failing that, could sell to au ordinary civilian, but then the department raised the rate of interest from 4i per cent paid by soldiers to the current advances rate of 51 per cent. The result was that, as plenty of houses carrying, the ordinary State Advances mortgaged at 4£ per cent Were on the market, soldiers were being unduly penalised and naturally found extreme difficulty in findihg purchasers for their homes.
He had taken tho question up with tho Department, but had received no satisfaction so far.
The association decidcd to write to the Minister of Lands pointing out the injustice of the system from the discharged soldiers' point of view.
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Bibliographic details
Auckland Star, Volume LIX, Issue 123, 26 May 1928, Page 10
Word Count
191
SOLDIERS' MORTGAGES.
Auckland Star, Volume LIX, Issue 123, 26 May 1928, Page 10
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