apr 21, 1947 - Extension of mortgage period for Maori

Description:

Department of Maori Affairs increased the period of borrowing to thirty years, thus lowering the payments on mortgages. This lending period had been available to Pakeha since the 1894 Advances to Settlers Act. The minimum amount that a Maori borrower could borrow through the Department of Maori Affairs was also made equal to those offered to Pakeha through the State Advances Corporation.

Source: https://ir.canterbury.ac.nz/handle/10092/4352

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