$l00 level for P.O. loans?
PA Wellington People seeking home loans from the Post Office would be disqualified if their Post Office' account fell below $lOO at any stage in the 12 months before they applied, said Labour’s Shadow Minister of Housing, Mr M. K. Moore, yesterday. Mr Moore made the assertion in a statement circulated to Parliament’s press gallery. But a spokesman for the Post Office Loans Board said it was’not the policy of any lending institution to publish its lending criteria, and he would neither confirm nor deny the truth of the allegation. Mr Moore said that it was the sixth change he knew of in a year. “First we had a situation where no savings history was required, then one month, three months, six months, 12 ■months — now if an account has dropped below a minimum balance of $lOO at any stage in the 12 months, we
are told, a home-seeker will not qualify.” He said that about eight or nine of every 10 applicants would not qualify for the loans. There was no reason why the full criteria should not be announced, said Mr Moore.
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Press, 18 November 1981, Page 6
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189$l00 level for P.O. loans? Press, 18 November 1981, Page 6
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