SUSPENSORY LOANS
PROVISION FOR FORMER SERVICEMEN
(Neto Zealand Press Association) WELLINGTON. August 27. The Government recently approved an extension in the maximum cost limits for assessing suspensory loans, which are available to all sections of the community for home building, and the Rehabilitation Board has now made a similar adjustment in the supplementary interest-free loan scheme, which applies exclusively to former servicemen.
Announcing this to day, the Minister of Rehabilitation (Mr T. L. Macdonald) said that the new extended cost limit provides that the supplementary loan o'. 5 per cent., with a maximum of £lOO, may now be available on a house costing £2200 to build, or where there are three or more children higher cost limits are allowed. Where the cost is in excess of these limits the supplementary loan will taper off by £1 in every £4 in excess of the limit. The minimum supplementary loan that will be granted is £25, and the new policy will apply to houses the building of which had not been completed on February 15, 1951, although it mav have begun before that date.
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Bibliographic details
Press, Volume LXXXVII, Issue 26511, 28 August 1951, Page 2
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182SUSPENSORY LOANS Press, Volume LXXXVII, Issue 26511, 28 August 1951, Page 2
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