Higher loan limit sought
(N.Z. Press Association)
AUCKLAND, Oct. 2.
The Master Builders’ Federation will make submissions to the Government tomorrow for an increase of $l5O in the State Advances loan limit to match the 6.1 per cent wage increase granted to building Workers this week.
The president (Mr K. L. Williams, of Auckland) said the figure of $l5O was reached after assessing the cost increases on a $12,000 house because of the wage increase.
“We believe the Government must keep to a mortgage system based on facts — and a changing situation. This wage increase will automatically be passed on to home builders and the State Advances loan limit should increase accordingly,” he said. Mr Williams said the executive director of the federation, Mr T. C. L. Symes, of Wellington, would present written submissions to the Minister in Charge of the State Advances Corporation (Mr Holland).
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Bibliographic details
Press, Volume CXII, Issue 33037, 3 October 1972, Page 17
Word Count
146Higher loan limit sought Press, Volume CXII, Issue 33037, 3 October 1972, Page 17
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