MORTGAGE INSURANCE
RESIDENTIAL LOANS REHABILITATION HOUSING Ex-servicemen who are granted a rehabilitation housing loan up to the loan limit of £1,500 may, in suitable cases, receive further assistance to meet the single premium payable should they take out mortgage repayment insurance, says a statement from The Rehabilitation Board. Normally the Board assists in this v>ay where the loan phis the premium together do not exceed £1,500; it has now been decided that where £1,500 has been reached for loan pur poses, then an advance up to £SO should also he made, where desired, for mortgage repayment insurance. The advance would be made at the rate of 3 per cent, and would be repayable over a relatively short term appropriate to the amount advanced and to the circumstances of the borrower. Similar loans have previously been provided to assist exservicemen to meet stamp duty and legal costs on their housing transaction. The Board’s latest decision-is furtherance of its policy of encouraging ex-servicemen to take out mortgage insurance on properties bought or erected with rehabilitation finance.
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https://paperspast.natlib.govt.nz/newspapers/OPUNT19470822.2.21
Bibliographic details
Opunake Times, 22 August 1947, Page 3
Word Count
174MORTGAGE INSURANCE Opunake Times, 22 August 1947, Page 3
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