National has expressed disappointment with a $23 million fund designed to help owners of earthquake-risk apartments.

Just one loan has been granted conditional approval so far, and only after the scheme's eligibility criteria was widened last May. At least 56 potential applicants have expressed interest in receiving access to this fund. 

Despite this, $1 million out of the fund has been spend on administration costs, and a further $1000 has been spent on marketing and promoting the scheme to Wellington apartment owners.  

National's Chris Bishop says the idea behind the fund is sensible, but the limited impact of the scheme is another example of the Government failing to deliver on a promise.

LISTEN ABOVE

National has expressed disappointment with a $23 million fund designed to help owners of earthquake-risk apartments.
Just one loan has been granted conditional approval so far, and only after the scheme's eligibility criteria was widened last May. At least 56 potential applicants have expressed interest in receiving access to this fund. 
Despite this, $1 million out of the fund has been spend on administration costs, and a further $1000 has been spent on marketing and promoting the scheme to Wellington apartment owners.  
National's Chris Bishop says the idea behind the fund is sensible, but the limited impact of the scheme is another example of the Government failing to deliver on a promise.
LISTEN ABOVE

Don't miss a thing while you're on holiday, with Newstalk ZB Holiday Breakfast. We deliver the best in news, views and opinion to keep Kiwis informed and entertained while you're on the road, at the bach, or relaxing at home.

Don't miss a thing while you're on holiday, with Newstalk ZB Holiday Breakfast. We deliver the best in news, views and opinion to keep Kiwis informed and entertained while you're on the road, at the bach, or relaxing at home.

Don't miss a thing while you're on holiday, with Tim Dower and Newstalk ZB Holiday Breakfast.

Holiday Breakfast

Don't miss a thing while you're on holiday, with Tim Dower and Newstalk ZB Holiday Breakfast. Tim delivers the best in news, views and opinion to keep Kiwis informed and entertained while you're on the road, at the bach, or relaxing at home.