TERMS OF MORTGAGES.
PROPOSED LEGISLATION. STRONG CANTERBURY PROTEST. [BY TELEGEArH. —rREPS ASSOCIATION.] CHRISTCHURCH. Friday. Severe criticism of the proposed amendments to the Mortgagors Belief Act was made by Mr. H. D. Andrews, chairman of the Permanent Investment and Loan Association of Canterbury, at the annual meeting. "In view of persistent rumours of the possibility of legislation altering tho terms of existing mortgages and eliminating the personal liability of mortgagors who have accepted liability for both principal and interest under their mortgage," said Mr. Andrews, "it seems expedient that, as chairman of this association, I should protest against the possibility of such legislation being passed. "I find it hard to believe that any responsible Government should contemplate or support the passing 6f such legislation , which would bo inherently dishonest and vicious in principle, and would be found disastrous in practice. It would be productive of many evil consequences and eventually put an end to all lending on mortgage securities'and be generally destructive of credit."
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New Zealand Herald, Volume LXIX, Issue 21118, 27 February 1932, Page 12
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163TERMS OF MORTGAGES. New Zealand Herald, Volume LXIX, Issue 21118, 27 February 1932, Page 12
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