Income limit on loans lifted

Press, 13 August 1980, Page 2

Income limit on loans lifted

PA Wellington! The Minister of Housing! (Mr Quigley) has reversedhis decision to impose an income limit on home-im-j provement loans. But hej said yesterday that preference would still be given to those in lower-income' groups who could have diffi-i culty in financing home improvements privately. ■ The criterion that current; Housing Corporation borro-| wers be given preference for home-improvement loans, would also be removed. i The loans limit was im-l posed last week because the Joans were too popular. The Housing Corporation’s! assistant director-general,; lending (Mr J. Ward) saidj then that the corporation’s! budget was limited and that! many of the loans were! going on desirable rather, than necessary improve-' ments. If the trend was) allowed to continue un-j checked it would exclude, highly necessary inner-city I improvements. | In abolishing the limit, Mr; Quigley said that absolutel

i priority would still be given ito neighbourhood-improve-ment areas and to other inner-city areas. I Priority would also be •given to families on low in- , comes seeking to enlarge I their existing, accommodation to meet the needs 'of growing families or to house dependent relatives.