The ACT Government has rejected Opposition calls to release the name of the lending institution involved in its land rent scheme.Govt responds to land rent scheme questions - ABC News (Australian Broadcasting Corporation)
The Opposition says the Government needs to confirm whether the institution is still willing to take part so people considering using the scheme do not miss out on the increased first home buyer's grant.The Federal Government's first home buyers grant is due to expire on the 30 June, 2009.
The ACT Treasurer Katy Gallagher says she does not want to risk losing the lender's involvement by revealing its identity."The scheme is ready, it's there, we're committed to it," she said."And really it's about now for that financial institution to finalise their details. And that remains out of the Government's control but we are certainly working with them, talking with them, providing them with any assistance they need in order to fully commit to the project."
The ACT Greens say they will not be calling on the Labor Government to act before the end of the financial year.
Greens MLA Amanda Bresnan says calls for the lender to be identified are unhelpful. "For this lender to come out and say who they were might actually endanger the scheme," she said. "I guess in talking about housing affordability this is one of the things that will assist towards that. We do need a scheme along these lines to work, we think it's a good scheme and that's why we will stick to the 30th of June deadline which we gave the Government."
First Home Loan Specialists Comment
This is a very innovative scheme if the ACT government can get it up and running. The ACT is very proactive in this area with a detailed Affordable Housing Strategy being implemented. The program that I like is the OwnPlace Program which sells 15% of all new land releases as house and land packages for under $300,000.00.
Check it out on the ACT Land Development Agency website. The link is below in this blog.
Greg Brierley
Principal
T: 130ww0 884 809
E: greg@firsthomespecialist.com.au
W: www.firsthomeloanspecialist.com.au
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