LAND MORTGACES
RATES OF INTEREST (Per United Press Association) WELLINGTON, Dec. 3. Regulations were issued to-night under the Mortgagors and Lessees Rehabilitation Act, 1936, providing for the rate of interest for the first mortgages of land for the purpose of subsection 4, section 43, to be at a rate not exceeding 4J per cent, per annum, the rate for puisne mortgages of land not to exceed 6 per cent., and the rate for mortgages of property other than land not to exceed 6 per cent. Another regulation under the same Act fixes 5 per cent, as the rate at which income is to be capitalised for Ihe purpose of sub-section 3, section 39, of the Act.
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Bibliographic details
Otago Daily Times, Issue 23055, 4 December 1936, Page 13
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116LAND MORTGACES Otago Daily Times, Issue 23055, 4 December 1936, Page 13
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