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Tuesday, 14 October 1975
Page: 2094


Mr McLeay asked the Minister for Urban and Regional Development, upon notice:

(1)   What is the delay for applicants seeking first mortgage finance through the Defence Service Homes Scheme for home building or home purchase.

(2)   What is the upper limit of these mortgages.

(3)   How many applications were approved for less than the maximum loan during 1974-75 and for the months of July and August 1 975, and what were the reasons.


Mr Uren - The answer to the honourable member's question is as follows:

(   1 ) The waiting period for assistance under the Scheme in respect of applications to purchase a home lodged on or after 1 August 1975, is eleven months. There is no waiting period for assistance to build a home.

(2)   815,000.

(3)   The numbers of applicants assisted during 1974-75 and for the months of July and August 1975 where the amount of the loan was less than the statutory maximum were:

1974-75-1814

July 1975-314 August 1975-264

The main reasons why some loans were less than the statutory maximum were: where the applicant requested a loan of less than the maximum statutory amount. where the amount of advance which could be made available in accordance with the Defence Service Homes Act having regard to the value of a property, was less than the maximum statutory amount.







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