MONEY TO BUILD

Grey River Argus, 14 March 1940, Page 6

MONEY TO BUILD

State Advances READY FOR PEOPLE CHRISTCHURCH, March 13. “We are encouraging persons to make applications for building loans from the State Advances because, for my part, I would rather lend to citizens money to build the.r own homes than build rental homes for them,” said the Minister for 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, as 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.