❓ Hon. Ken Travers asks the Minister for Housing about the performance and characteristics of Keystart loans, including average length, loan duration distribution, arrears, defaults, foreclosures, and reserve usage.
AnsweredQoN 199Legislative Council
QuestionView source ↗
KEYSTART — LOANS
199. Hon KEN TRAVERS to the Minister for
Housing:
(1) What is the average length of a Keystart
loan?
(2) How many Keystart loans have
been held for more than —
(a) one year;
(b) five years; or
(c) 15 years?
(3) In 2014–15 —
(a) how many Keystart loans were in
arrears at 30 June;
(b) how many Keystart loans defaulted;
(c) how many Keystart loans were
foreclosed; and
(d) did Keystart have to draw on its
reserves to cover any loans?
199. Hon KEN TRAVERS to the Minister for
Housing:
(1) What is the average length of a Keystart
loan?
(2) How many Keystart loans have
been held for more than —
(a) one year;
(b) five years; or
(c) 15 years?
(3) In 2014–15 —
(a) how many Keystart loans were in
arrears at 30 June;
(b) how many Keystart loans defaulted;
(c) how many Keystart loans were
foreclosed; and
(d) did Keystart have to draw on its
reserves to cover any loans?
AnswerView source ↗
I thank the honourable member for
some notice of the question.
(1) Based on
loans closed over the four years to 30 June 2015, the average age of a loan at
closure was approximately six years and five months.
(2) At 30 June 2015 —
(a) More than one year but less than
five years, 3 575.
(b) More than five years but less
than 15 years, 7 357.
(c) Over 15 years, 3 445.
(3) (a) Sixty-nine loans were more
than 30 days in arrears.
(b) � Seventy-six loans defaulted, leading to
recovery processes.
(c) Forty-eight loans were
foreclosed, being loans that closed following default.
(d) No.
some notice of the question.
(1) Based on
loans closed over the four years to 30 June 2015, the average age of a loan at
closure was approximately six years and five months.
(2) At 30 June 2015 —
(a) More than one year but less than
five years, 3 575.
(b) More than five years but less
than 15 years, 7 357.
(c) Over 15 years, 3 445.
(3) (a) Sixty-nine loans were more
than 30 days in arrears.
(b) � Seventy-six loans defaulted, leading to
recovery processes.
(c) Forty-eight loans were
foreclosed, being loans that closed following default.
(d) No.
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