HOUSING POLICY

Gisborne Times, Volume LXXXIV, Issue 12903, 2 July 1936, Page 4

HOUSING POLICY

GOVERNMENT TO BRING INTEREST RATES DOWN POSITION OF’ BORROWERS WITH SECOND MORTGAGES EQUITY MUST BE IN PROPERTY BEFORE AID GIVEN (Press Association! • WELLINGTON, July 1. Interviewed to-day regarding die housing-scheme, Air'Savage said the improvement of hruru'-s would not increase accominodat on to any extent; but the financial side wanted careful consideration, as it was the object of the Government to get the rates of interest down, not temporarily, but for all time. “Money ha® been: our master Loo long*', said the Prime Min'star. .Asked whether the State would re-finance existing borrowers who are at present in difficulties over second mortgages or - other advances, Air Savage replied that it was-the Government’s desire to re-establish occupiers on a satisfactory basis; provided the equity was- in the .property, hut this wins a question l which would be cons'dered wneri the mortgage legislation was-brought down when Parliament Tesumcd. “The question;often arises: is • there any equ'ty- left?” said the Premer, “but I can say thus; Whatever we- can ado to re-establish people hi their hemes, we will do. There will be no stopping place for our activit