tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
OCR cut 25 basis points DETAILS HERE Dismiss
Last Article Uploaded: Wednesday, May 28th, 6:18PM

News

rss
Latest Headlines

Leaky Home Insurance Scare

Insurance companies no longer cover building inspectors for "leaky home syndrome," meaning affected home-owners have scant chance of securing compensation from them.

Thursday, April 15th 2004, 9:32AM

by The Landlord

The Building Industry Association has begun a review headed by leaky building expert Don Hunn. He led the government's 2002 leaky building investigation which reshaped New Zealand's building requirements.

Under the Building Act, private and city council inspectors approve buildings by signing off compliance certificates. But if an inspector approves a faulty building, he/she will no longer be insured against negligence claims.

This means if the inspector is proved liable for approving a leaky home, the home-owner has little chance of compensation. Since the leaky building debacle most insurance companies have cancelled "weathertightness" - ie, "leaky homes" - cover or written a raft of exclusions into their contracts


Read More - Opens in a new window
« Better to be safe, but not too safe - Mary HolmARC head explains thinking behind rates system »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
Subscribe Now

Mortgage Rates Newsletter

Daily Weekly

Previous News
Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA - Back My Build 4.44 - - -
AIA - Go Home Loans 6.74 4.99 4.99 5.35
ANZ ▼6.49 5.59 5.59 5.89
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 4.99 4.99 5.29
ASB Bank ▼6.44 4.99 4.99 5.35
ASB Better Homes Top Up - - - 1.00
Avanti Finance 7.15 - - -
Basecorp Finance 7.50 - - -
BNZ - Classic - 5.99 5.69 5.69
Lender Flt 1yr 2yr 3yr
BNZ - Mortgage One 6.79 - - -
BNZ - Rapid Repay 6.79 - - -
BNZ - Std 6.69 5.55 5.29 5.59
BNZ - TotalMoney 6.79 - - -
CFML 321 Loans 5.25 - - -
CFML Home Loans 6.95 - - -
CFML Prime Loans 7.45 - - -
CFML Standard Loans 8.25 - - -
China Construction Bank 6.64 ▼4.99 ▼4.99 ▼5.29
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - 4.89 - -
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Owner Occ 5.95 4.99 4.99 5.39
Co-operative Bank - Standard 5.95 5.49 5.49 5.89
Credit Union Auckland 7.70 - - -
First Credit Union Special - 5.29 5.19 -
First Credit Union Standard 6.94 5.79 5.49 -
Heartland Bank - Online 6.25 5.89 - -
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society ▼7.45 5.95 5.80 -
ICBC 6.50 4.99 4.99 5.39
Kainga Ora 6.44 4.99 4.99 5.35
Kainga Ora - First Home Buyer Special - - - -
Lender Flt 1yr 2yr 3yr
Kiwibank ▼6.35 5.89 5.89 6.15
Kiwibank - Offset ▼6.35 - - -
Kiwibank Special 6.50 4.99 4.99 5.35
Liberty 6.90 6.80 6.50 6.45
Nelson Building Society 7.19 5.24 4.97 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
SBS Bank 6.74 5.59 5.59 5.95
SBS Bank Special - 4.99 4.99 5.35
SBS Construction lending for FHB - - - -
Lender Flt 1yr 2yr 3yr
SBS FirstHome Combo 4.19 4.29 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 8.89 - - -
TSB Bank 7.44 5.79 5.79 6.19
TSB Special ▼6.39 4.99 4.99 5.39
Unity First Home Buyer special - 4.69 - -
Unity Special 6.64 ▼4.99 4.99 -
Unity Standard 6.64 5.79 5.79 -
Wairarapa Building Society 6.95 5.29 4.75 -
Westpac 6.74 ▼5.55 ▼5.55 ▼5.55
Westpac Choices Everyday 6.84 - - -
Lender Flt 1yr 2yr 3yr
Westpac Offset 6.74 - - -
Westpac Special - ▼4.95 ▼4.95 ▼4.95
Median 6.74 5.24 4.99 5.39

Last updated: 28 May 2025 11:14am

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com