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Thursday, 21 May 1970


Mr Whitlam asked the Minister for the Interior, upon notice:

(1)   What was the (a) maximum loan, (b) minimum deposit, (c) interest rate and (d) maximum repayment term In respect of houses financed by bis Department in the Australian Capital Territory 20 years ago.

(2)   What has been the (a) date and (b) extent of subsequent changes.


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

There are two separate Commonwealth housing assistance schemes.

The Commissioner for Housing Loans Scheme

(1)   (a) The maximum loan amount under the Commissioner for Housing Loan Scheme in 1950 was $4,000.

(b)   The Commissioner could at that time tend up to 90% of his valuation of a house.

(c)   41/8%.

(d)   Brick house 35 years.

Timber house 25 years.

(2)   Changes in loan conditions since 1950 have been as follows:

On 19th May 1955 the scheme was amended to provide that the Commissioner may lend 95% of the Commissioner's valuation where the valuation does not exceed $4,000 and where the valuation exceeds $4,000 the Commissioner may lend 95% of the first $4,000 and 90% of the balance up to a maximum of $5,500. These conditions have remained constant and subsequent amendments have increased the maximum loan to $8,000.

Sale of houses to tenants

(1)   (a) The maximum mortgage amount in 1950 was $4,000.

(b)   A minimum deposit of 5% in respect of houses valued less than $3,600 and 10% deposit in respect of houses valued above $3,600.

(c)   3i%.

(d)   Brick house 35 years.

Timber or fibro house 25 years.

(2)   Changes in sale conditions since 1950 have been as follows;







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