BUILDING LOANS
STATE ADVANCES STILL AVAILABLE fPer United Press Association.] WELLINGTON, March 13. “We are encouraging ipersons to make applications for building loans from the State Advances because, for my part, I would rather lend citizens money to build their own, homes than build rental houses for them,” said the Minister of Housing (Hon. H. T. Armstrong) to-day. If persons wanted finance for the building of their homes, the State Advances Department was available, said Mr Armstrong. The number of applications for loans fell off shortly after the outbreak of war. The decline for the period was not as heavy as was anticipated, and, so far as he could see, the amount which would be lent this year would compare favourably with the figure for the previous year. No reduction in the amount which was available for State Advances loans would be made, the Minister said when it was suggested to him that the need of finance for war purposes might have an effect. “ Approximately £2,000.000 is returned annually to the department as repayment of principal, and that money will go out again to help people to buy their homes,” he said.
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Bibliographic details
Evening Star, Issue 23525, 14 March 1940, Page 6
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192BUILDING LOANS Evening Star, Issue 23525, 14 March 1940, Page 6
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