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Beyond the expected

Bond loans easier to get

By johnboy - 10 May 2010 6

Joy Burch has announced that the ACT Government’s Rental Bonds Housing Assistance Program is now going to be available to more people for an interest free hand paying a bond.

ACT Minister for Disability Housing and Community Services Joy Burch said the changes would enable more people to enter the private rental market by increasing the household income thresholds. For a two-income family, or a sole parent, the pre-tax weekly threshold has increased from $1717 to $1908. For a single-income household with no dependents the threshold has increased from $1383 to $1431.

“The loans will cover most of the cost of a rental bond, freeing up funds to assist individuals and families with other expenses associated with moving house,” Ms Burch said.

Let’s hope they can pay the rent.

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6 Responses to
Bond loans easier to get
sepi 11:01 pm 10 May 10

If it can keep people off the public housing waiting lists it is a good thing.

fgzk 9:50 pm 10 May 10

If your interested in applying you need to have less than $40000 in assets.

Housing Assistance Rental Bonds Housing
Assistance Program 2010 (No 1)

http://www.legislation.act.gov.au/di/2010-60/current/pdf/2010-60.pdf

I-filed 8:46 pm 10 May 10

Are they serious? And philbydee it IS a handout, AND it will cost administration. Are they saying that a single person earning $70,000 a year can’t afford to save a rent bond? Or that they can’t take out a standard loan if they’ve been too slack to save, pay interest, and pay it back? This is our rates money they are spending folks!

And a couple on $100,000 a year with no children can’t pay their own way bond-wise?

Is this crazy Greens pressure on Labor at work? The Greens, presumably, regard $100,000 as a hardship income … not that surprising really …

georgesgenitals 7:46 pm 10 May 10

I’d be more concerned about someone being able to pay the rent if they couldn’t raise the bond.

philbydee 4:37 pm 10 May 10

bergamot: $1400/ week is a pretty good wicket, for sure- but don’t forget this isn’t free money. It has to be paid back within a certain time frame (I think 18 months?), and the money is sent directly to the Rental Bond Board- it never actually sees anyone’s pocket. I wouldn’t call it a hand out exactly- just some assistance getting over the expeeeeensive speedbump that is moving house.

bergamot 3:07 pm 10 May 10

Is it just me or is $1400/week fairly good earnings? Damn, I didn’t think I was a low income earner, but hey – maybe I will be eligible for some handouts now!

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