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Concessions to Large Families Special provision has been made for the needs of large families. In such cases the cost limit is adjusted in accordance with the following table :
More Loans for Homes There lias been a significant increase in borrowing for home building since the loan limit was raised from £1,500 to £2,000 and the suspensory loan scheme was introduced. This year, as compared with last year, loans have more than doubled in number for the comparable six-monthly and monthly periods, as is shown in the following table : Building Loans Applied For Number. Amount. £ April-September, 1949 .. 1,348 1,948,345 April-September, 1950 .. 2,813 5,583,721 September, 1949 .. .. 220 317,255 September, 1950 .. .. 472 944,951 Building Loans Authorized Number. Amount. £ Aj)ril-September, 1949 .. 1,313. 1,849,999 April-September, 1950 .. 2,385 3,904,288 September, 1949 .. .. 225 322,400 September, 1950 .. .. 423 790,920 Loans to Employers Loans are available for employers who wish to build homes for their employees, and employers are encouraged to take advantage of this provision. The terms and conditions of these loans follow closely those for ordinary home builders. To encourage housing in the country loans are made to co-operative dairy companies and lime companies at an interest rate of 3 per cent. Local Bodies The Government is enlisting the aid of local authorities in providing homes for people, and liberal provision is made for loans at 3 per cent, through, the State Advances Corporation. To obtain those loans local bodies must plan schemes to relieve the housing shortage. Every scheme must provide for at least six houses for sale or lease to local residents other than employees of the local authority.
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Cost Limit for Cost Limit for Number of Children. Maximum Minimum Suspensory Suspensory Loan of £200. Loan of £50. 1 £ £ Three 2,150 2,450 Four 2,300 2,600 Five or more 2,500 2,800
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