Housing loan lifeline plan

Families facing a temporary loss of income would qualify for a Federal Government loan to meet housing bills under a proposal to be introduced at the Liberal Party's national conference on June 6. The “housing lifeline” would extend a line of credit of up to $10,000 over two years in weekly payments of up to $200. The loan would be available to households where the breadwinner is suddenly incapacitated or becomes unemployed. Repayments would be deducted from income in the same way as tax, once the main breadwinner resumed work. The conference, to be held in Adelaide, will also hear about plans for a shared housing equity scheme, under which banks and other lenders would own a stake in the homes on which they lent money.

Advertisement