Financial Assistance Package
The Financial Assistance Package (FAP) was introduced in July 2011 to help owners fund repairs to leaky homes. The package essentially promises that the government and the council who issued the Code Compliance Certificate will each contribute 25% towards repair costs. The government will then guarantee any bank loan taken out by the claimant for the remainder.
Time Limit
Even if liable parties have been identified, their liability is not limitless. Although the Building Act clearly defines the responsibility of the builder, the developer, and the council to ensure a building is built in conformance with the building code, just because it is not, and leaks, does not automatically mean they must pay for the repairs.
Choices
Leaky home owners have different choices to make regarding their future. Some of these choices are "Do I claim for compensation before, or after repairing my home?", or "Where will I get the money?". The only way to decide which choice is right for you is to understand what choices are available to you.
