Loans for Building Might be More Liberal
STATE ADVANCES TO BE APPROACHED.
Four remits came before the annual conference of the N.Z. Builders’ Federation in Palmerston North yesterday recommending more liberal government valuations on new dwellings to enable applicants to secure more substantial loans from the State Advances Department.
The secretary, Mr W, J. Mountjoy, announced that the department had decided to advance up to 90 per cent, of the value of the security. Mr W. B. Young (Hamilton) urged that government valuations should be kept in line with rising costs. Very often applications were returned by the department with the statement that tenders were too high. Mr J. Johns (Christchurch) was of opinion that much of the trouble lay in the boosting of rents with the hope of getting larger advances from the department.
Mr J. H. Meyer (Wellington) thought there was too much legistative restriction in applying for loans. The conference decided to ask th« department to keep a close watch on aad take fully into consideration tho rise in cost of building when valuations are being made for advances to owners..
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Bibliographic details
Manawatu Times, Volume 63, Issue 41, 18 February 1938, Page 8
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184Loans for Building Might be More Liberal Manawatu Times, Volume 63, Issue 41, 18 February 1938, Page 8
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