Leaky building assistance
The Weathertight Homes Financial Assistance Package is now law. This means owners of leaky buildings now have two ways of getting help through the Ministry of Business, Innovation & Employment (MBIE):
- The new Financial Assistance Package; or
- Dispute Resolution through the Weathertight Homes Tribunal
If you meet the eligibility criteria, it is your choice as to which option would suit you best, and you should seek legal advice as soon as possible.
What are owners of leaky homes entitled to under the Financial Assistance Package?
Under the Financial Assistance Package, qualifying homeowners will receive:
- 25% of approved repair costs from the government; and
- 25% of approved repair costs from the local council if they are a participating territorial authority and signed off on the original building work.
The homeowner will then need to fund the remaining 50% of the approved repair costs themselves, or through a bank loan.
What should you do if you have a leaky building?
We recommend that you talk to the MBIE claims department in the first instance. You must lodge a claim within 10 years of the completion of building work to access the Financial Assistance Package.
How do I know if I qualify for the Financial Assistance Package?
You will need to get in touch with the MBIE. There is a lot of useful information on their website MBIE. Alternatively, you can give them a call on 0800 116 926 for further assistance.
How can ASB help you if you discover you have a Leaky Building?
You should firstly get in touch with us through your Personal Banker, or by calling our Contact Centre, on 0800 803 804.
We will then put you in touch with one of our Leaky Building specialists who will discuss your situation and needs with you. At this point, we will be able to give you an indication of whether you meet our lending criteria and how much you may be able to borrow for repairs.
We realise this is a very stressful situation, and we will work to assist you in repairing your leaky building.
