Few rush for new house loan
The Government's latest moves, raising the cost limits for Housing Corporation loan money, have had little effect on the demand for finance. In the last Budget, the Minister of Finance (Mr Muldoon) increased from $16,000 to $20,000 the maximum value for a new house for which the corporation would lend money. The value of sections on which buyers can get corporation funds was also increased, to $lO,OOO. The corporation says that these changes do not mean that people can get up to $20,000 for the house and $lO,OOO for the land. The maximum lending limit is still $13,000 to $14,000, plus supplementary finance for people on low incomes. The corporation is receiving applications for loans at a steady rate, and has “a fair number in the pipeline." The latest Budget measures concern houses which were not started until after July 31.
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Press, 14 August 1976, Page 4
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147Few rush for new house loan Press, 14 August 1976, Page 4
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