100 PER CENT. LOANS

Dominion, Volume 37, Issue 121, 17 February 1944, Page 4

100 PER CENT. LOANS

Rehabilitation Board Criticized

(By Telegraph.—Press Association.) CHRISTCHURCH, February 16. Criticism of ’the Rehabilitation Board for not carrying out the Government’s policy and granting discharged . servicemen 100 per cent, loans for the purchase of homes was expressed at a sitting of the Christchurch Urban Land Sales Committee this morning, by Mr. E. A. Lee, who appeared for a discharged soldier purchaser. Mr. Lee eaid his client was a returned man who had been overseas for three years. He had applied for a loan of £1450 and, having been 10 years in the building trade, was perfectly satisfied with the price. The local rehabilitation committee had r«roriimended the application to the board in Wellington. The result was that the board, instead of granting £1450, offered a loan of £l3OO, and at the end of its letter advised the applicant to negotiate with the builder for a reduction for cash. The board claimed that the purchase price was too high, and if this was the ease there was some justification for endeavouring to protect the applicant. His client, however, said flint he had seen a number iff letters received from the board by <»’er applicants and all had the same tag. It was a “stock” letter, but the paragraph asking applicants to get a reduced price had been typed on afterward. , “Extreme dissatisfaction .exists over this practice,” said Mr. Lee. “This purchase has been hold up since December. Tjjc.if>ard has adopted a cheeseparing attitude in an attempt to bring down the price. The Government valuation is £1390, so oven if £1450 were not granted the applicant should get £1390 if the promise of M 100 per cent, loan is true. As the result of this attitude taken by the board a number of men, discharged or returned and anxious to get homes, have lost the opportunity to purchase.