Territory Stories

Annual Report 2000/2001 Territory Housing



Annual Report 2000/2001 Territory Housing

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Tabled paper 154


Tabled Papers for 9th Assembly 2001 - 2005; Tabled Papers; ParliamentNT






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Maximising Territorians home ownership opportunities. Future strategies for adding value to the outcome 'maximisingTerritorians' home ownership opportunities are identified below, against appropriate outputs. Strategy Output Continued focus on reducing arrears. Loan Portfolio Management. Harmonisation of existing loan products. Loan Portfolio Management. Develop and implement a communication strategy. Loan Portfolio Management. Introduce a standard building contract for construction loans. Loan Portfolio Management, Property Sales and Acquisitions. Monitor and manage shared equity properties. Property Sales and Acquisitions. Review Assist Interest Subsidy scheme. Grant Management, Policy Advice. Sum m ary of Hom eNorth home purchase assistance products. (implemented 4 September 2000) HomeStart The HomeStart Loan is a scheme designed to help first home buyers in theTerritory buy between 70% and 100% of a property. HomeShare The HomeShare Loan is a scheme to help Northern Territory public housing tenants buy the home they are renting, or a share in that home utilising HomeNorth finance. Early Start Deposit Assistance Grant The Early Start Deposit Assistance Grant is designed to assist Territorians buy or build their first home, by providing them with a lump sum payment received at the time of purchase or commencement of construction to contribute towards their deposit. Assist Interest Subsidy The Assist Interest Subsidy scheme is designed for applicants who are obtaining a home loan from a bank, or other lending institutions excluding the HomeNorth loan schemes, to buy their first home.The subsidy is paid directly to the applicant's lender every month to keep the cost of mortgage repayments down. Purchasing with Private Finance (previously referred to as CashSale) For public housing tenants using private finance to purchase a public housing dwelling, HomeNorth will give financial assistance in the way of a 5% reduction in the sale price based on the market value of the property. This incentive ceased 30 June 2001.