Housing Finance Institutions model memorandum and articles of association for a housing finance company incorporated under the law relating to companies

Abstract

To advance money to any person (not being a member of the company) upon security by way of mortgage of land (including any building or other structure or improvement erected or constructed thereon) situate in or upon other marketable security, and in particular (but without derogation from the generality of the foregoing) to advance money upon the security of, or for the purpose of enabling the person borrowing the same to erect or purchase or enlarge or repair, any house or building, or to enable such person t o acquire any estate or interest in any land upon such terms and conditions as the Company may think fit.