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Thursday, 5 December 1974
Page: 4824

Mr Snedden asked the Minister for Housing and Construction, upon notice:

(   1 ) On what dates have he and the Treasurer had discussions with lending institutions to plan the introduction of the promised deferred payment housing loan plan.

(2)   When will the plan begin to operate.

Mr Les Johnson (HUGHES, NEW SOUTH WALES) - The answer to the right honourable member's question is as follows:

(   1 ) Discussions at officer level have been held between officers of the Departments of the Treasury and Housing and Construction and representatives of the permanent building societies and savings banks.

(2)   It is understood that a scheme for the deferment of housing loan interest through this adjustment of payments on a housing loan in relation to the rising income of the borrower is already in operation by some permanent building societies. Formal advice is till awaited on the attitude of the savings banks to this kind of arrangement.

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