VPRS 12013 Home Finance Trusts Interest Calculations on Mortgages

This series consists of five volumes of interest calculations on first and second mortgages of the Home Finance Trust.The Home Finance Trust was established under the Home Finance Act 1956 in order to assist low-income earners in acquiring a home by providing successful applicants with low interest loans. The Trust was empowered to make housing loans on the security of first and second mortgages. The Director of Housing assumed responsibility for the Home Finance Trust in January 1984.Under the provisions of the Home Finance Act 1962 the accounts of each fund and the other accounts of the Trust were to be audited by the Auditor-General. Although as a routine financial record this series ceased to have significance after the audit of the accounts, it documents a core function of the Home Finance Trust. It also importantly lists the interest rates charged. From these figures it is possible to contrast the interest figures that were being offered to low income earners in comparison with the figures that higher income earners were being charged over the period 1962-1965.Information in the records includes: first or second mortgages; the names of borrowers in alphabetical order; their payment to date; the balance; arrears; instalment figures and the interest calculated quarterly.