Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Heatley mean spirited about first homeownership

Hon Chris Carter
Minister of Housing

14 August 2006 Media Statement

Heatley mean spirited about first homeownership


National MP Phil Heatley has completely missed the point in arguing the Welcome Home Loan scheme drives people into debt, Housing Minister Chris Carter said today.

"It may be news to Mr Heatley but a house is an asset, and homeownership has been the primary way most New Zealand families have increased their wealth," Mr Carter said.

"To argue that the government is driving people into debt by assisting first home buyers to get on the property ladder is to completely ignore all of the safeguards the Welcome Home Loan scheme contains to ensure people only borrow what they can afford.

"The scheme is specifically designed for those who can meet mortgage repayments but cannot get a mortgage under traditional lending criteria because they do not have a sufficiently large deposit," Mr Carter said.

"Thousands of young families have been stuck in an impossible cycle where they scrimp and save for years to pull together a deposit on a home, only to find that house prices have moved again, and they need an even larger deposit.

"Under the Welcome Home Loan scheme, households like these are given a hand-up into the market. They are screened by banks in the same way all other borrowers are to ensure they can afford to take on a loan. Their borrowings are restricted by their income under the scheme, just like everybody else," Mr Carter said.

"So far, none of 1850 families that have taken up Welcome Home loans have defaulted on their mortgages. These are honest, responsible Kiwi families who deserve a shot at homeownership, and the greater prosperity it can bring, just like everyone else.

"Mr Heatley's mean spirited attacks on them and on the Welcome Home Loan scheme only underscore how out of touch he is with the community, and the difficulties young people face."

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Also, Loan Interest: Productivity Commission On Tertiary Education

Key recommendations include better quality control; making it easier for students to transfer between courses; abolishing University Entrance; enabling tertiary institutions to own and control their assets; making it easier for new providers to enter the system; and facilitating more and faster innovation by tertiary education providers... More>>

ALSO:

Higher Payments: Wellington Regional Council Becomes A Living Wage Employer

Councillor Sue Kedgley said she was delighted that the Wellington Regional Council unanimously adopted her motion to become a Living Wage employer, making it the first regional council in New Zealand to do so. More>>

ALSO:

Scoop Images:
Dame Patsy Reddy Sworn In As Governor-General

This morning Dame Patsy Reddy was sworn in as the New Zealand Realm’s 21st Governor-General. The ceremony began with a pōwhiri to welcome Dame Patsy and her husband Sir David Gascoigne to Parliament. More>>

ALSO:

Ruataniwha: DOC, Hawke's Bay Council Developer Take Supreme Court Appeal

The Department of Conservation and Hawke's Bay Regional Investment Company (HBRIC) are appealing to the Supreme Court over a conservation land swap which the Court of Appeal halted. More>>

ALSO:

With NZ's Marama Davidson: Women’s Flotilla Leaves Sicily – Heading For Gaza

Women representing 13 countries spanning five continents began their journey yesterday on Zaytouna-Oliva to the shores of Gaza, which has been under blockade since 2007. On board are a Nobel Peace Laureate, three parliamentarians, a decorated US diplomat, journalists, an Olympic athlete, and a physician. A list of the women with their background can be found here. More>>

Gordon Campbell: On The Key Style Of Crisis Management

At Monday’s post Cabinet press conference Key was in his finest wide- eyed “Problem? What problem?” mode. No, there wasn’t really a problem that top MPI officials had been at odds with each other over the meaning of the fisheries policy and how that policy should be pursued... More>>

ALSO:

Mt Roskill: Greens Will Not Stand In Likely Post-Goff By-Election

“The Green Party’s priority is changing the Government in 2017, and as part of that we’ve decided that we won’t stand a candidate in the probable Mt Roskill by-election... This decision shows the Memorandum of Understanding between Labour and the Green Party is working." More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news