EQC Responds To On-sold Policy Feedback

Owners of on-sold homes still have just under six months to register their interest in receiving an ex-gratia payment to repair earthquake damage to their homes. EQC is encouraging homeowners of on-sold properties who think that they may be eligible, to contact them to start the process.

Deputy Chief Executive, Renée Walker says that they are making good progress implementing the policy, having agreed settlement on 50 on-sold properties since the policy was launched.

“We have received 625 expressions of interest to date, with 561 of these qualifying for the package. We have reached settlement agreements on 50 of these,” says Walker.

“This means that 50 families who haven’t previously had a way to fund repairs to earthquake damage have been able to get on with the repair of their homes. Feedback from these families has unsurprisingly been very positive”.

Walker says that EQC is regularly reviewing their implementation of the policy, looking for any opportunities to improve the process and outcomes. This week the organisation made a key change to the application of the policy to recognise the uncertainty involved in earthquake repairs and enable variations to be submitted by contractors for payment.

“Early feedback indicated there were some improvements that could be made to the implementation of the policy, the key one been the ability for contractors to submit variations during construction”.

“We have listened to this and have updated the process and documentation to enable this”.

On 15 August 2019, the Minister responsible for the Earthquake Commission, Grant Robertson, and the Minister for Greater Christchurch Regeneration, Megan Woods announced a policy that enables owners of on-sold over-cap properties in Canterbury to apply for an ex-gratia payment from the Government to have their homes repaired.

EQC is administering this policy on behalf the Government. To be eligible for a payment under the policy homeowners must meet certain criteria.

If you think this may apply to you, register your interest now at www.eqc.govt.nz/on-solds. You can also contact us on 0800 DAMAGE or email info@eqc.govt.nz. Expressions of interest must be lodged before August 14 2020.

Read more about what you could consider when buying a house after a natural disaster at: https://www.consumerprotection.govt.nz/help-product-service/buying-or-renting-a-house/buying-after-natural-disasters/

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