asked the Minister for Local Government if he will state the capital sum now required to pay off a loan of £800 advanced in 1939, under the Small Dwellings Acquisition Acts; and whether he will further state the capital sum which would have been so required on the 1st day of April, in each of the years 1942, 1943, 1944, 1945 and 1946.
Ceisteanna—Questions. Oral Answers. - Finance of Small Dwellings Acquisition Acts.
It would not be possible to answer the Deputy's question specifically unless particulars were available as to the period of repayment and the rate of interest charged.
If the Deputy's object in asking the question is to ascertain how much would now be required by a local authority to pay off a loan advanced in 1939 by the Commissioners of Public Works for the purposes of the Small Dwellings Acquisition Acts, the question should have been addressed to the Minister for Finance.
The amount required on any given date to pay off a loan advanced by a local authority in 1939 under the Small Dwellings Acquisition Acts is the amount of principal outstanding on such date together with any sums due on account of interest. Where the repayment of the loan is being made by an annuity of principal and interest combined, the local authority is required to show by a table annexed to the mortgage the amount of principal due after each payment.