Minister’s plea brings in $1/2M

Press, 25 August 1986, Page 9

Minister’s plea brings in $1/2M

Almost $500,000 in fixed, low-interest loans has been repaid to the Housing Corporation since a call by the Minister of Housing, Mr Goff, for borrowers to do so.

Figures given by Mr Goff show that to August 7, 421 non-reviewable lowinterest loans, worth $435,161, had been repaid — an average of $1033 a loan.

“Loans repaid since then would take the total to almost 500, worth about $500,000,” Mr Goff said.

The Christchurch share of the money was $44,100, or an average loan of $9OO.

Mr Goff said that the Minister of Finance, Mr Douglas, had agreed that all the money repaid to

the Housing Corporation could be recycled to prosective home buyers rather than going back into the Government’s general funds. “All this money can therefore be recycled to help first home-seekers on modest incomes who would find it difficult to achieve home ownership without Housing Corporation assistance,” Mr Goff said.

“I am grateful to those who have responded to my appeal because in so doing they have given young families the same opportunity to buy a house that they themselves received many years ago from the old State Advances Corporation.”