Login
ISCOVER
The Tasmanian government has revealed the uptake for its recent financial support package for home buyers left in the lurch after two construction companies went under.
In February, the Tasmanian state government rolled out a financial support package for customers of recently failed construction companies Inside Out Constructions and Tasmanian Constructions, which traded as Hotondo Homes.
To continue reading the rest of this article, please log in.
Looking for more benefits? Become a Premium Member.
Create free account to get unlimited news articles and more!
Looking for more benefits? Become a Premium Member.
Eligible customers with incomplete building projects were able to claim for their loss up to 20 per cent of the contract price, up to $200,000; and those who had paid deposits but were yet to see work commence were able to claim up to 5 per cent of their contract price.
Anyone who had been approved for HomeBuilder grants were also still able to access the funds in the same way as if their build had not become insolvent.
Since the package was launched, 18 applications have been approved and more than $600,000 in payments have been sent, while a further 23 applications are being assessed.
The government has also now committed to providing further assistance of up to $10,000 each, for a small number of customers who paid for services with Hotondo Homes prior to entering into a building contract.
Around 50 property buyers had been left stranded by the two companies going into administration.
The state government has also signalled that it is working to reintroduce a home warranty insurance scheme in Tasmania.
[Related: Fresh flood support, as Prime Minister declares national emergency]
JOIN THE DISCUSSION