GOVERNMENT MORTGAGE
(To the Editor.) :: Sir,—l read the letter in .'your .paper, under the above heading yesterday with considerable interest. What "Builder" says is perfectly true. There is'no doiibfc. j whatever that cheap Government money; - is extensively used by people ti'ading -inhouse • property and making large profits in doing so. Most buyers prefer a;Government mortgage, and anyone having a property'for sale carrying one will be abla to sell at least 10 per cent, higher than: without. This, I can hardly think, is the intention of the Advances Department. There is only ono way to stop this, by; restricting .the transfer of State mortgages^ j save under exceptional circumstances, for,, say, five "years from the date of the individual loan. In the case of soldiers' mortgages being transferred to civilians each case is decided on its merits. Why not treat the other State advances in the same way? There is no doubt at all that the above abuse of Government money is restricting private building efforts.—l aijt etql^''' ' MORTGAGOR, ,
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Bibliographic details
Evening Post, Volume CVII, Issue 9, 11 January 1929, Page 6
Word Count
168GOVERNMENT MORTGAGE Evening Post, Volume CVII, Issue 9, 11 January 1929, Page 6
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