Some of these societies, notably the Abbey Road and Woolwich
Equitable, offer exceptional advantages to those who wish to become owner-occupiers. The process of obtaining an advance is comparatively simple, but though the policy of all the societies is drawn up on the same lines, there is variation in details. Therefore, any person who wishes to borrow money, should exercise care _and thought in selecting his society. It is, for example, useful for those who have not much capital available to go to a society that makes advances by instalments during the progress of building. It should also be noted that certain societies advance a larger proportion of the value of houses than others, if they adopt. the help given them by Mr. Neville Chamberlain in his 1928 Act. By that Act local authorities may give guarantees to building societies, which enable them to lend up to 90 per cent. of the value of a house, instead of the more usual 70 per cent.
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