Latest / 360 with Katie Woolf / Katie Woolf spoke with Elders Home Loans Director Katrina Parrington

Transcript

Katie Woolf spoke with Elders Home Loans Director Katrina Parrington · 360 with Katie Woolf

• 0:00
  Speaker 1: Mix one O four point nine dot com for all
• 0:03
  Speaker 1: the latest news and information. Now three sixty with Katie Wolf.
• 0:07
  Speaker 1: Everyone is listening Mix one oh four point nine, one
• 0:11
  Speaker 1: hundred percent.
• 0:12
  Speaker 2: Well, like we always say, we certainly rely on you
• 0:15
  Speaker 2: guys to let us know what's going on around the
• 0:18
  Speaker 2: community and the issues that are important to you. And
• 0:21
  Speaker 2: yesterday we spoke to one of our listeners about a
• 0:23
  Speaker 2: concern that she's got when it comes to building building
• 0:26
  Speaker 2: a new home. We know that there's plenty of grants
• 0:28
  Speaker 2: or there's a couple of different grants available at the
• 0:30
  Speaker 2: moment two territorians who are building. I understand that there's
• 0:34
  Speaker 2: a federal one. I also think that there is a
• 0:37
  Speaker 2: territory one. But one of these one of these grants
• 0:40
  Speaker 2: at the moment people are having a few issues with
• 0:43
  Speaker 2: because it's.
• 0:44
  Speaker 3: Being impacted by the weather.
• 0:46
  Speaker 2: Now that may sound ridiculous, but as we know up
• 0:49
  Speaker 2: here in the top end, when it comes to our
• 0:51
  Speaker 2: wet season, it certainly puts a bit of a hold
• 0:54
  Speaker 2: or a bit of a delay, no doubt about that
• 0:57
  Speaker 2: to some of the construction work that gets under. Now,
• 1:01
  Speaker 2: joining us on the line to give us a little
• 1:03
  Speaker 2: bit of a better idea about the way in which
• 1:05
  Speaker 2: this is impacting some territorians is Katrina Parrington. She's the
• 1:09
  Speaker 2: director of Elders' Home Loans. Good morning to you, Katrina.
• 1:14
  Speaker 4: Good morning Katie. How are you going?
• 1:16
  Speaker 3: Yeah, really good. Thank you so much for joining us
• 1:18
  Speaker 3: this morning.
• 1:20
  Speaker 2: Can you tell us a bit more about the concerns
• 1:22
  Speaker 2: that some territorians have got at the moment when it
• 1:25
  Speaker 2: comes to these schemes and well and the different bonuses
• 1:29
  Speaker 2: that are currently around.
• 1:32
  Speaker 4: Currently, we've got two bonuses in play, the Northern Territory
• 1:35
  Speaker 4: Government's build bonus and the Federal government's home Builder. So
• 1:41
  Speaker 4: we were only advised as brokers about a week ago
• 1:44
  Speaker 4: that unless we had certificate of titles issued to these
• 1:47
  Speaker 4: particular grants that People's Choice credit Union and no disrespect
• 1:51
  Speaker 4: to People's Choice by the way, because they're a brilliant
• 1:53
  Speaker 4: credit union yep. But they actually accept most of the
• 1:56
  Speaker 4: grants towards people's deposits for their homelands and are the
• 2:01
  Speaker 4: only banking fact that do except all the grants. So
• 2:05
  Speaker 4: it's really helped territorians who are renting, trying to pay rent,
• 2:08
  Speaker 4: trying to save a deposit to get into the market,
• 2:11
  Speaker 4: and it's also helped a lot of people who are
• 2:13
  Speaker 4: permanent residents or new citizens getting into the market establishing
• 2:17
  Speaker 4: themselves in the territory. So it's been a bank that
• 2:20
  Speaker 4: we've heavily relied on to assist us in placing these
• 2:23
  Speaker 4: particular clients. PCSU have been advised by Tertiary Revenue Office
• 2:28
  Speaker 4: that if they didn't have applications in as of last Monday,
• 2:33
  Speaker 4: and the applications had to be obviously puty completed and
• 2:36
  Speaker 4: for titled land, that they would no longer be processing
• 2:40
  Speaker 4: those grants for those applications. So unfortunately, with our wet season,
• 2:44
  Speaker 4: we have land subdivisions that are now months behind this
• 2:50
  Speaker 4: look this fact may have been in the ether and
• 2:52
  Speaker 4: we just weren't aware of it back in the process,
• 2:55
  Speaker 4: but it was only brought to our attention in the
• 2:57
  Speaker 4: last week and a half. Our clients have gone through
• 3:01
  Speaker 4: the process, not just mine, but other client arether brokers,
• 3:04
  Speaker 4: other bank clients around the territory gone through this process
• 3:07
  Speaker 4: to put their names down on blocks, get themselves preapproved,
• 3:10
  Speaker 4: do what they can to get in their own homes,
• 3:12
  Speaker 4: signed contracts for land and for build land hasn't titled
• 3:16
  Speaker 4: and now all of those people that are in this
• 3:18
  Speaker 4: Limbo area are going to be disadvantage ss of the
• 3:21
  Speaker 4: end of this month.
• 3:23
  Speaker 3: Wow.
• 3:23
  Speaker 2: So Katrina, for you know, for those people that are
• 3:26
  Speaker 2: in this situation, you know, like what capacity have we
• 3:29
  Speaker 2: got here? Obviously, you know it's sounding like it's a
• 3:33
  Speaker 2: really difficult situation for them. Is there? I mean, is
• 3:36
  Speaker 2: there going to be any opportunity for us to try
• 3:39
  Speaker 2: and sort of extend this.
• 3:41
  Speaker 4: What we'd like to see And I don't know if
• 3:43
  Speaker 4: it's possible, And that's perhaps on the federal side of
• 3:46
  Speaker 4: things where Senator McMahon and mister Gosling might be able
• 3:49
  Speaker 4: to step up and help local territories. Is we'd like
• 3:53
  Speaker 4: to see people who have entered into contracts for building
• 3:56
  Speaker 4: their homes and purchasing land for land that hasn't yet
• 4:00
  Speaker 4: but they have entered into a contract for those applications
• 4:03
  Speaker 4: to be on it. I'm not asking tro or the
• 4:06
  Speaker 4: federal government or ANTIGUAV to extend this to the process
• 4:11
  Speaker 4: of when land is titled in the never Knew It,
• 4:13
  Speaker 4: but applications received up to the thirty first of March
• 4:17
  Speaker 4: to be honored so that when those lands do title,
• 4:19
  Speaker 4: those people, those territorians can get into their home like
• 4:23
  Speaker 4: We're in a very difficult market for young Territorians and
• 4:25
  Speaker 4: young families right now. Rents are going through the roofs.
• 4:30
  Speaker 4: These people are feeling the pinch in so many ways,
• 4:32
  Speaker 4: and yet they're willing to make a commitment to Darwin,
• 4:35
  Speaker 4: to Catherine, to Alice brings a commitment to be in
• 4:38
  Speaker 4: the community, to build the community, a part of a
• 4:40
  Speaker 4: vibrant community, and where sort of well, the government, federal
• 4:44
  Speaker 4: and NT is saying the thirty first March game over.
• 4:47
  Speaker 2: Katrina, do you have any idea how many Territorians this
• 4:51
  Speaker 2: might impact.
• 4:53
  Speaker 4: Look, I can only speak for myself, and we have
• 4:56
  Speaker 4: quite a number on our book and I would I
• 5:00
  Speaker 4: don't think i'd be I wouldn't be the largest broker
• 5:03
  Speaker 4: in Darwin, Catherine or Alice. I'm sure that there are
• 5:06
  Speaker 4: many others that have a number on their books, but
• 5:09
  Speaker 4: it is quite a number. There are obviously some other
• 5:12
  Speaker 4: schemes open to us that we can certainly use, but
• 5:17
  Speaker 4: some people will still remain disadvantage at the end.
• 5:19
  Speaker 2: Of the day.
• 5:19
  Speaker 4: There are some people that no matter what we do,
• 5:21
  Speaker 4: we will not be able to get them into their
• 5:24
  Speaker 4: own homes in the current environment.
• 5:26
  Speaker 2: Katrina, can you break this down for me, so that
• 5:28
  Speaker 2: I totally understand because I'm about to have Luke Gosling
• 5:32
  Speaker 2: on the show, and no doubt I will have some
• 5:34
  Speaker 2: of our territory ministers on the show at some point
• 5:37
  Speaker 2: next week. But I'm about to speak to Luke Gosling.
• 5:40
  Speaker 2: So really, what you're keen to find out at this point,
• 5:44
  Speaker 2: or what you'd like to see, is people who've entered
• 5:47
  Speaker 2: into those contracts for those contracts to be honored.
• 5:51
  Speaker 3: Basically, yeah, correct.
• 5:53
  Speaker 4: We've got a lot of these people. These people are
• 5:55
  Speaker 4: already pre approved, so they've gone through the process of
• 5:58
  Speaker 4: getting their approvals done, they've been accepted, but now they're
• 6:02
  Speaker 4: being knocked back because they don't have titles. And that's
• 6:05
  Speaker 4: a peculiarly Darwin top end Catherine issue. You're not going
• 6:10
  Speaker 4: to see that. In Sydney, Melboyn, Adelaide and Perth, those
• 6:13
  Speaker 4: developers were able to release their land, get it titled
• 6:15
  Speaker 4: and do what they needed to do. But up here,
• 6:18
  Speaker 4: preeople on this big Web have been pretty much hamstrung
• 6:21
  Speaker 4: since December and nothing has much has much gone on
• 6:24
  Speaker 4: in that titled space. And in fact, my understanding speaking
• 6:27
  Speaker 4: to a couple of the developers in town is that,
• 6:31
  Speaker 4: and they're actually expecting titles to be delayed a little
• 6:33
  Speaker 4: bit longer.
• 6:34
  Speaker 3: Goodness me.
• 6:35
  Speaker 2: So really, you know, we've been quite reliant or certainly
• 6:40
  Speaker 2: these bonuses as well, these schemes have really helped our
• 6:43
  Speaker 2: construction sector and really helped you know, our builders, our
• 6:46
  Speaker 2: subbi's a lot of.
• 6:48
  Speaker 3: Different trades people.
• 6:49
  Speaker 2: If we then have a situation where there's a big
• 6:51
  Speaker 2: number of these applications that cannot go through, excuse me,
• 6:56
  Speaker 2: because they're unable to get these grants some people, it
• 7:00
  Speaker 2: may be the decision for some people whether they do
• 7:03
  Speaker 2: or do not go ahead and get a new home.
• 7:05
  Speaker 3: Bilch won't it.
• 7:06
  Speaker 4: I certainly will. When I believe you spoke to a
• 7:08
  Speaker 4: young lady yesterday, I didn't hear that. Unfortunately, I'm working
• 7:11
  Speaker 4: in others friends at the moment, so I didn't hear
• 7:13
  Speaker 4: that particular exchange. But there are, and I know in
• 7:16
  Speaker 4: my book, there are certainly a number of people we
• 7:18
  Speaker 4: will not be able to help into their own into
• 7:21
  Speaker 4: home ownership. It just isn't going to happen for them.
• 7:23
  Speaker 4: They don't have family who can step in and supply
• 7:26
  Speaker 4: security guarantees, they don't have funds for extra deposit, and
• 7:30
  Speaker 4: some of these. We're talking teachers, nurses, police officers, shop assistants,
• 7:35
  Speaker 4: single parents. These are people that really do want to
• 7:38
  Speaker 4: get out of the public system and into their own home,
• 7:41
  Speaker 4: and we're handstrang we're hamstring them at the last moment.
• 7:44
  Speaker 2: Well, Katrina, I, as I say, I'm about to catch
• 7:47
  Speaker 2: up with Luke Gosling. But what we're going to do
• 7:49
  Speaker 2: as well is we'll make sure that we might try
• 7:51
  Speaker 2: to catch up with Senator Sam McMahon on Monday as
• 7:54
  Speaker 2: well to see if we can talk a little bit
• 7:56
  Speaker 2: further about this, because you know, the last thing that
• 7:59
  Speaker 2: we want to see here is Territoryan's disadvantage just because
• 8:02
  Speaker 2: of the weather, you know, like because of delays obviously
• 8:05
  Speaker 2: due to our wet season, and if other Aussies is
• 8:08
  Speaker 2: still able to you know, to get into their first homes,
• 8:12
  Speaker 2: we want to make sure that Territorians are able to
• 8:14
  Speaker 2: do that as well.
• 8:15
  Speaker 4: Thanks, Curtie, appreciate any assistance you can provide.
• 8:18
  Speaker 3: No worries.
• 8:19
  Speaker 2: We appreciate you having a chat to us and making
• 8:21
  Speaker 2: it a bit easier for us to understand.
• 8:25
  Speaker 3: Time you too.
• 8:26
  Speaker 2: Katrina Parrington there now, as I said, she is of
• 8:29
  Speaker 2: course South the director at elder's home loans,