❓ A member of parliament questions the Minister for Housing and Works about potential increases to minimum income levels for shared equity home loans. The Minister clarifies there are no minimum income levels, but rather maximum levels, based on loan repayment ability.
AnsweredQoN 274Legislative Council
QuestionView source ↗
SHARED EQUITY HOME LOANS
I refer to the conditions for qualification for all shared equity home loans, including the Access Home Loan Scheme. (1) Is the minister planning to increase the minimum income levels imposed as a condition of qualifying for shared equity home loans, including the Access Home Loan Scheme? (2) If yes to (1), what minimum income levels will be required, particularly with reference to the Access Home Loan Scheme? (3) If yes to (1), what is the reason for the increase in the minimum income level? (4) If yes to (1), by what rationale would a minimum income level be imposed? Hon KATE DOUST
I refer to the conditions for qualification for all shared equity home loans, including the Access Home Loan Scheme. (1) Is the minister planning to increase the minimum income levels imposed as a condition of qualifying for shared equity home loans, including the Access Home Loan Scheme? (2) If yes to (1), what minimum income levels will be required, particularly with reference to the Access Home Loan Scheme? (3) If yes to (1), what is the reason for the increase in the minimum income level? (4) If yes to (1), by what rationale would a minimum income level be imposed? Hon KATE DOUST
AnswerView source ↗
I thank the member for some notice of this question. (1) There is no minimum income level as it is more related to an applicant’s ability to repay the loan; however, there is a maximum level. (2)-(4) Not applicable.
(1) Is the minister planning to increase the minimum income levels imposed as a condition of qualifying for shared equity home loans, including the Access Home Loan Scheme? (2) If yes to (1), what minimum income levels will be required, particularly with reference to the Access Home Loan Scheme? (3) If yes to (1), what is the reason for the increase in the minimum income level? (4) If yes to (1), by what rationale would a minimum income level be imposed? Hon KATE DOUST replied: I thank the member for some notice of this question. (1) There is no minimum income level as it is more related to an applicant’s ability to repay the loan; however, there is a maximum level. (2)-(4) Not applicable.
(2) If yes to (1), what minimum income levels will be required, particularly with reference to the Access Home Loan Scheme? (3) If yes to (1), what is the reason for the increase in the minimum income level? (4) If yes to (1), by what rationale would a minimum income level be imposed? Hon KATE DOUST replied: I thank the member for some notice of this question. (1) There is no minimum income level as it is more related to an applicant’s ability to repay the loan; however, there is a maximum level. (2)-(4) Not applicable.
(3) If yes to (1), what is the reason for the increase in the minimum income level? (4) If yes to (1), by what rationale would a minimum income level be imposed? Hon KATE DOUST replied: I thank the member for some notice of this question. (1) There is no minimum income level as it is more related to an applicant’s ability to repay the loan; however, there is a maximum level. (2)-(4) Not applicable.
(4) If yes to (1), by what rationale would a minimum income level be imposed? Hon KATE DOUST replied: I thank the member for some notice of this question. (1) There is no minimum income level as it is more related to an applicant’s ability to repay the loan; however, there is a maximum level. (2)-(4) Not applicable.
Hon KATE DOUST replied: I thank the member for some notice of this question. (1) There is no minimum income level as it is more related to an applicant’s ability to repay the loan; however, there is a maximum level. (2)-(4) Not applicable.
I thank the member for some notice of this question. (1) There is no minimum income level as it is more related to an applicant’s ability to repay the loan; however, there is a maximum level. (2)-(4) Not applicable.
(1) There is no minimum income level as it is more related to an applicant’s ability to repay the loan; however, there is a maximum level. (2)-(4) Not applicable.
(2)-(4) Not applicable.
(1) Is the minister planning to increase the minimum income levels imposed as a condition of qualifying for shared equity home loans, including the Access Home Loan Scheme? (2) If yes to (1), what minimum income levels will be required, particularly with reference to the Access Home Loan Scheme? (3) If yes to (1), what is the reason for the increase in the minimum income level? (4) If yes to (1), by what rationale would a minimum income level be imposed? Hon KATE DOUST replied: I thank the member for some notice of this question. (1) There is no minimum income level as it is more related to an applicant’s ability to repay the loan; however, there is a maximum level. (2)-(4) Not applicable.
(2) If yes to (1), what minimum income levels will be required, particularly with reference to the Access Home Loan Scheme? (3) If yes to (1), what is the reason for the increase in the minimum income level? (4) If yes to (1), by what rationale would a minimum income level be imposed? Hon KATE DOUST replied: I thank the member for some notice of this question. (1) There is no minimum income level as it is more related to an applicant’s ability to repay the loan; however, there is a maximum level. (2)-(4) Not applicable.
(3) If yes to (1), what is the reason for the increase in the minimum income level? (4) If yes to (1), by what rationale would a minimum income level be imposed? Hon KATE DOUST replied: I thank the member for some notice of this question. (1) There is no minimum income level as it is more related to an applicant’s ability to repay the loan; however, there is a maximum level. (2)-(4) Not applicable.
(4) If yes to (1), by what rationale would a minimum income level be imposed? Hon KATE DOUST replied: I thank the member for some notice of this question. (1) There is no minimum income level as it is more related to an applicant’s ability to repay the loan; however, there is a maximum level. (2)-(4) Not applicable.
Hon KATE DOUST replied: I thank the member for some notice of this question. (1) There is no minimum income level as it is more related to an applicant’s ability to repay the loan; however, there is a maximum level. (2)-(4) Not applicable.
I thank the member for some notice of this question. (1) There is no minimum income level as it is more related to an applicant’s ability to repay the loan; however, there is a maximum level. (2)-(4) Not applicable.
(1) There is no minimum income level as it is more related to an applicant’s ability to repay the loan; however, there is a maximum level. (2)-(4) Not applicable.
(2)-(4) Not applicable.
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