Housing (Stage Payments) Bill 2004

Public bill · Private Member · Presented

The Housing (Stage Payments) Bill 2004 would stop contracts for houses in housing estates from requiring buyers to make stage payments totalling more than 10% before the house is finished. It would not affect individually commissioned homes, where payments for completed building work are standard. The aim is to protect buyers from carrying the construction risk, borrowing heavily before they can move in, and paying mortgage costs on an unfinished home; it would take effect 30 days after enactment.

Formal long title

Bill entitled an Act to prohibit stage payments in contracts for certain new houses

Last updated 5 September 2018