EQC receives approximately 6,000 applications for a sold support package

Monday, December 7, 2020 10:15 a.m. Press Release: Earthquake Commission

The Earthquake Commission (EQC) has received nearly 6,000 requests from Canterbury homeowners for a government support package upon sale, with more than half of them arriving in the month leading up to the October 14, 2020 deadline.

EQC is now working through a process with homeowners to review their eligibility.

Pip Andrews, EQC’s Head of Sales on Sale, says EQC has written to all applicants who request documents to verify their eligibility before December 14, such as sales and purchase agreements and pre-purchase building reports.

“We are fast approaching two months since the application closed and we have requested this information from homeowners. Once we review their eligibility, every eligible homeowner will be matched with a settlement specialist to take them through the appraisal and settlement process,” says Ms. Andrews.

Managed by EQC on behalf of the government, the $ 300 million on-sale support package targets eligible Canterbury homeowners who purchased a home prior to August 15, 2019 claiming a stable EQC, but have since discovered missed earthquake damage that exceeds the EQC cover for repair.

EQC sent out a mailing in August to more than 44,000 homes in Canterbury purchased since 2011, as well as ads on radio and newspapers, resulting in more than 3,000 applications being placed in the last month.

“We knew when we mailed this large number of people that there would be homeowners who would file their interests register to make sure they had the option available to them. Our first step is to determine how many of those homeowners meet the criteria to apply,” Andrews says.

At this point, just over 2,400 applications were received for registration only and EQC acknowledges that homeowners have likely submitted these applications to avoid missing the application deadline.

“Homeowners who want to keep the support package at sale must act. We asked them to provide eligibility information before December 14th, so we can prove their eligibility, and if they qualify, then move into their homes that are being repaired,” says Ms. Andrews. .

Homeowners who have provided eligibility information can expect to know if they qualify within 30 business days. EQC expects the majority of applicants to be informed of their eligibility before the end of January 2021, if they provide their information in 2020.

“This will spark a lot of work in the residential building industry in Canterbury early next year. Along with qualified and licensed building practitioners, homeowners will oversee their repair process.

“This starts with an assessment phase to determine earthquake damage and necessary repairs to their property, before progressing to construction and repair work,” Andrews says.

“We will provide detailed information to homeowners, as well as building contractors hired by homeowners and other professionals to assist them through the process.”

Homeowners can call 0800 DAMAGE or visit www.eqc.govt.nz to learn how to apply for the Support Package for Sale.

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