Mr. Buswell inquires about the First Start Shared Equity Loan Scheme's performance, including application numbers, property values, equity shares, and participant demographics. The Department of Housing and Works provides detailed figures.

AnsweredQoN 2382Legislative Assembly
Asked
12 June 2007
Portfolio
Housing and Works

QuestionView source ↗

(a) how many applications were received for participation in the First Start Shared Equity Loan Scheme;
(b) how many applicants were approved for participation in the First Start Shared Equity Loan Scheme;
(c) what was the average value of the properties approved as part of the First Start Shared Equity Loan Scheme;
(d) what was the value of the highest value property approved as part of the First Start Shared Equity Loan Scheme;
(e) what was the average value of the property shares purchased as part of the First Start Shared Equity Loan Scheme;
(f) what was the average percentage of the property share purchased as part of the First Start Shared Equity Loan Scheme;
(g) how many participants left the First Start Shared Equity Loan Scheme; and
(h) how many -
(i) applicants; and
(ii) approved applicants,
fit into the following categories -
(A) families with incomes under $60,000;
(B) couples with incomes under $50,000; and
(C) singles with incomes under $35,000?

AnswerView source ↗

Answered
28 August 2007
Responded by
Minister for Housing and Works
Response time
77 days
The Department of Housing and Works advises
a) 3530 expressions of interest received.
b) 768 were forwarded a loan application.
c) $330,000
d) $350,000
e) $198,000 (borrowers equity)
$132,000 (Department's equity)
f) 60% (borrowers %)
40% (Department's %)
g) Nil
h) (i) Applicants forwarded a loan application for those categories:
(A)504
(B) 99
(C)165
(ii) Applicants approved or pre-approved for the First Start Scheme for those categories:
(A)61
(B) 5
(C)5
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