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Housing finance: lending terms and conditions

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Housing Finance: Lending Terms and Conditions

The Commonwealth Department of Housing has just released

a new issue of Housing Finance — a booklet giving details of the

terms and conditions on which financial institutions and government

authorities in Australia lend money for housing purposes.

The information covers the maximum loan, minimum deposit,

interest rate and maximum repayment terms.

Because many home seekers want to borrow a high pro-portion of the total cost, the booklet refers to the two institutions

willing to insure high ratio loans. The lenders who make use of

these services of these insurers are identified throughout the

publication. Some of these lenders have indicated a willingness

to lend more than 90 per cent of the value of the home, provided

the home is insured.

Information on the Home Savings Grant Scheme under which

the Commonwealth offers a gift of up to $500 to young home seekers

is also included.

This publication is for sale at 50c per copy from the

Commonwealth Government Printer and the offices of the Commonwealth

Department of Housing.

Department of Housing, Canberra, A.C.T.

28 January 1970