Banks run scared on Waitara leases

[Marc]

Hi all,

Interesting news...

Uncertainty over the future of Waitara leasehold land is causing heartache and anger for some lessees, who say they are trapped in houses they cannot sell.

The latest blow has been the reluctance of some banks to provide, or extend, mortgages to prospective purchasers or occupiers.

In August, the New Plymouth District Council made a preliminary decision to return to Te Atiawa iwi 179ha of endowment land confiscated by the Crown after the Taranaki war of the 1860s.

Read More->

http://www.stuff.co.nz/stuff/dailynews/0,2106,2755938a6002,00.html

Best Regards

Marc

[tamara]

Hi

There is no doubt that this article highlights the importance of completing thorough due dilligence when making your purchase. Contestable land, as in this instance can be found all over New Zealand.

Tamara