BUILDING SOCIETIES
EXTENSION OF ADVANCES
Per Press Association. AVELLINGTON, Oct. 29.
Arrangements whereby building societies will in future be able to extend from 65 per cent, to 80 per cent, their financial advances to approved clients for the purpose of building new dwellings were announced to-night by the deputy-chairman of the Unemployment Board (Air AV. Bromley). Air Bromley said that, although the plan had been made possible only by the Unemployment Board agreeing to share with the building societies the potential liability on account of any losses which might occur, due to more’ liberal building loans being made available, such assistance from the Unemployment Fund would not prevent the homeseeker from obtaining the advantage of some assistance under the No. 12 subsidy scheme. However, the maximum subsidy under that scheme in such cases would be reduced from 8 per cent, to 6 per cent. Home-owning would thus be brought within the reach of a larger number of citizens.
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https://paperspast.natlib.govt.nz/newspapers/MS19341030.2.12
Bibliographic details
Manawatu Standard, Volume LIV, Issue 285, 30 October 1934, Page 2
Word Count
158BUILDING SOCIETIES Manawatu Standard, Volume LIV, Issue 285, 30 October 1934, Page 2
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