26 Jul 2021

Govt lending for quake prone apartments not working - resident

From Morning Report, 6:11 am on 26 July 2021

Not a single cent has been cashed out from the Government's $23 million loan scheme for those living in earthquake-prone apartments.

Official figures show only 35 people have registered their interest and no one has even got so far as to apply for a loan since the fund opened in September 2020.

Inner City Wellington spokesperson Geraldine Murphy was one of the people who initially proposed a government lending model for.

She says the current scheme is broken.

The Minister of Building and Construction Poto Williams says a review into whether the set-up is working will be released in September.

She says tweaks are likely, although she isn't ruling out wholesale reform, or even ditching the scheme and setting something new up.