Earthquake-Prone Building loan scheme eligibility criteria

Owner-occupiers of unit and apartments living in earthquake-prone buildings will have certainty about the financial support they’ll be eligible for with the release of criteria for an upcoming assistance scheme, Minister for Building and Construction Jenny Salesa says.

The Residential Earthquake-Prone Building Financial Assistance Scheme will help unit owners facing financial hardship over earthquake strengthening costs.

“Fixing an earthquake-prone building where there are many unit owners can be a complex initiative to undertake. Getting the finance to do this work can prove difficult if not impossible for some people in this situation.”

“Without the support of low-interest loans like these, some unit owners may be forced to sell if they’re not able to earthquake strengthen their home.”

“We’re pleased we can now give these unit owners some certainty by releasing the criteria for this important financial lifeline,” Jenny Salesa says.

You can read the full criteria for the Residential Earthquake-prone Building Financial Assistance Scheme here