PRIVATE MORTGAGES

Poverty Bay Herald, Volume LXIII, Issue 19098, 20 August 1936, Page 14

PRIVATE MORTGAGES

REVIVAL OF DEMAND AUCKLAND EXPERIENCE The demand foe private mortgage money, which declined materially when changes were made in the ISlortgagi Corporation under the State Advafnce.Corporation Act, has revived considerably according to Auckland solicitois. Whether it is that the department was not prepared to handle tne positiy deluge of applications which it expend enced, said one solicior, or whether ,jj is that certain restrictions imposed m respect of State advances are not popular, the fact is indisputable that applications are once more coming fieelj to solicitors. It. was stated also that applications to raise- rentals are much more nuniei ous than thev were, although many agreements are being arrived at between landlords and tenants for higher rentals Some landlords are said to be taking tin view that as wages have been restored to the 1931 standard a corresponding in crease in rentals is justified. One agent pointed out that in many instances rents were reduced on a depression basis, and with increased taxation and a higher cost of living several men he represented were taking to improve their return from rentals n respect of business premises. An agent stated that the land tax proposals would affect some owners by as much as 1 pci cent on their investment.