A law called the Local Government Act 1974 has a part about mortgages. You can find this part in section 567, but it is no longer valid because it was repealed. It was repealed on 1 July 2003 by section 266 of the Local Government Act 2002, which you can read more about on the legislation website.

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This page was last updated on 10 September 2025

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM422156.

Topics:

Government and voting > Local councilsBanking and loans > Banking and loans

566: Council may guarantee certain replacement mortgages, or

"Council can help guarantee some home loans"

568: Mortgages securing premium instead of interest, or

"Old law about mortgages that doesn't apply anymore because it was replaced in 2003."

Part 32Land development for housing, commercial, and industrial purposes
Advances to financial institutions and guarantees of housing loans

567Provisions affecting mortgages (Repealed)

Notes

Section 567: repealed, on 1 July 2003, by section 266 of the Local Government Act 2002 (2002 No 84).