The Member for Nelson has been caught misrepresenting the truth for political point-scoring regarding a highly successful Government housing initiative.
Allegations levelled by Ms Webb at the My³Ô¹ÏÍøÕ¾ Shared Equity Scheme, while citing no solid evidence is disappointing, as we continue to pull every possible lever to help more Tasmanians achieve their dream of home ownership.
Ms Webb claims that My³Ô¹ÏÍøÕ¾ recipients are locked into monthly repayments. This is incorrect, repayments can be made daily, weekly, fortnightly, or monthly.
The My³Ô¹ÏÍøÕ¾ program allows Tasmanians to purchase a home with a 2 per cent deposit, with the Government chipping in up to 40 per cent of the price on a new home or land package.
Ms Webb was also remiss to add that My³Ô¹ÏÍøÕ¾ recipients don’t pay a cent of interest on the Government’s stake in their home, meaning participants pay drastically lower mortgage repayments than on the open market.
Over 1,000 Tasmanians have benefitted from the successful program already and are now paying their own mortgage instead of some else’s.
That’s 1,000 Tasmanians who may not otherwise have had the opportunity to secure the dream of home ownership.
Bank of Us have an obligation to ensure their interest rates are competitive, and an analysis of comparable shared equity schemes show that they are, while offering nation-leading accessibility.
The fact of the matter is Ms Webb is comparing apples to oranges in a cheap attempt at relevance during her election year.
