Maori loans for building approved
PA Wellington The first loans and mortgage contracts under a Government scheme to boost house building on Maori multiple-owned land were approved yesterday by the Minister of Housing, Mr Goff. Announcing the approvals at Panguru, in Hokianga, Mr Goff said the scheme provided loan security allowing Maori people to build on ancestral land.
It would remove longstanding obstacles that had stopped many families from improving their housing, such as tenure and financial difficulties and town-planning constraints.
The scheme was set up by the Government last year to help remedy substandard rural housing. A special contract is drawn up between the borrower, the lender, and the trustees of multipleowned land. The trustees give the applicant a licence to occupy a piece of tribal land and the house built has to be removeable as security for the loan.
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Press, 22 March 1986, Page 2
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141Maori loans for building approved Press, 22 March 1986, Page 2
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