If your house is leaky and was built within the last 10 years, the clock is ticking … and the wood is rotting, you need to lodge a claim as soon as possible to take advantage of the Government’s leaky homes package.

Under the package the Government and Councils will each pay 25 percent of the total cost of repairing the leaky homes.  The offer is made on the condition that homeowners will forgo their right to sue the Council or Crown.  However, homeowners will have to initially front up with the other 50 percent of the repair bills.

To come up with the other 50 percent of the repair costs, homeowners can either take advantage of the Government’s financial assistance package and borrow the funds backed by a loan guarantee underwritten by the Crown, provided they can meet bank lending criteria.

If litigation is still an avenue worth pursing homeowners can sue the other liable parties such as builders, engineers, roofers, architects and other parties involved in causing the leaky home, for the remaining 50 percent of the cost of repairs.

Most of the big city Councils have accepted the Government’s leaky homes package.  The Government is still to finalise the terms of the package and has indicated that it may be available for leaky home owners in early 2011.

There is a strict 10 year time limit for filing leaky homes claims.  To qualify for the package and to lodge your claim your house must have been built within the last 10 years, regardless of when the leaks or damage were discovered.  So don’t delay!  If you would like to discuss these issues further then give us a call so you can make sure your claim is lodged and you are eligible to receive help with the payment of your leaky home bills.