25 Aug 2009

Jones backs Govt move on Maori housing loans

6:38 am on 25 August 2009

Labour MP Shane Jones has leant his support to Government moves to help Maori get loans to build on multiple-owned land.

Last week, Housing Minister Phil Heatley announced the Government will underwrite such loans so banks are not exposed to the risk of default where borrowers don't own the land.

Mr Jones who was Labour's Building and Construction Minister, says any Government that makes advances on Maori housing has his support.

He told Waatea News the difficulty is obtaining access to capital, so it's got to be good if the if the Government is prepared to be the lender of last resort.

Mr Jones said a lot of Maori are moving back to provincial towns where the transition is difficult, so having a modern home will help greatly.