MORTGAGE BANK PROPOSED
PRIMARY PRODUCTION LOANS IN AUSTRALIA Canberra, Sept. 26. The establishment of a mortgage bank as a department of the Commonwealth Bank is authorised by a Bill introduced in the House of Representatives. The bank will lend only to persons engaged in primary production, and loans will not exceed 60 per cent, of the value of the property or £4OOO, which ever is the less. Repayment periods range from three to 35 vears, and interest rates will be fixed by the bank. The Government hopes, however, that the interest rate will be about 4 per cent.
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Bibliographic details
Wanganui Chronicle, Volume 86, Issue 228, 28 September 1942, Page 3
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98MORTGAGE BANK PROPOSED Wanganui Chronicle, Volume 86, Issue 228, 28 September 1942, Page 3
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