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Speaker 1: We've heard over the last couple of days quite a

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Speaker 1: bit about these different grants to try and get people

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Speaker 1: into their first new homes. So a re elected labor

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Speaker 1: government saying that they're going to establish a sixty thousand

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Speaker 1: dollars first home builder grant for territory residents who sign

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Speaker 1: on to build a first new home or buy an

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Speaker 1: apartment or townhouse. Meanwhile, we know that that announcement obviously

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Speaker 1: followed the colp's commitment all the way back in May

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Speaker 1: when they had said that they would commit to fifty

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Speaker 1: thousand dollars to home builders. This home builders plan that's

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Speaker 1: open to first home buyers, thirty thousand available to interstate

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Speaker 1: first home buyers to build a home in the Northern Territory,

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Speaker 1: and ten grant for first home buyers of existing homes. Now,

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Speaker 1: either way, it is a lot of money, but it's

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Speaker 1: aimed at stimulating the housing market and really getting people

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Speaker 1: into their first homes. Now, joining us on the line

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Speaker 1: is someone who speaks to first to home buyers very often.

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Speaker 1: Bliss Home Loans owner and mortgage broker Jeanine Ashmore.

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Speaker 2: Good morning, Jeanine, Good morning Katie.

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Speaker 1: How are you Ye're really good? Lovely to have you

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Speaker 1: on the show, Janine, as someone who's dealing with home

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Speaker 1: buyers on a daily basis, what was your reaction to

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Speaker 1: these announcements.

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Speaker 2: Well, well, firstly, having some sort of stimulus from either

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Speaker 2: side is welcome new to the Northern territory, Like the

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Speaker 2: builders have been doing it hard and first home buyers

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Speaker 2: have been finding it increasingly more difficult to get into

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Speaker 2: the market, So any sort of stimulus has been very welcome,

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Speaker 2: that's for sure.

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Speaker 1: I mean from past experience. Is it simple for people

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Speaker 1: to access grants like this or is it sort of

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Speaker 1: easier announced than actually done.

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Speaker 2: Yeah, I think the second they're Katie, easy and easier announced.

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Speaker 2: Like the last lot of stimulus that the current government

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Speaker 2: lodged with the build bonuses, banks wouldn't even consider those

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Speaker 2: funds when they were trying to help people, you know,

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Speaker 2: finance loans. And I think mainly because there was just

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Speaker 2: no consultations with this side of the community, Like it's

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Speaker 2: all good to put the money out there, but it

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Speaker 2: can't be used. What's the point of the whole thing,

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Speaker 2: you know yet?

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Speaker 1: So right, so last time we had this kind of thing,

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Speaker 1: it just it it really didn't actually help in the

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Speaker 1: way that it was intended no, And.

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Speaker 2: Look, a lot of us reached out to government to

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Speaker 2: try and see if the process could be improved so

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Speaker 2: that banks were more comfortable in considering the funds because

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Speaker 2: banks basically want to be able to control it so

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Speaker 2: that the house gets built all or whatnot. And you know,

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Speaker 2: after it had already been announced, you know, a sort

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Speaker 2: of haphazard meeting was announced at twelve o'clock or four

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Speaker 2: pm on the same day, and we all had to

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Speaker 2: sort of scrabble with our customers and tell them what

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Speaker 2: we couldn't see them that day so we could go

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Speaker 2: and try and represent the Northern Territory to have it,

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Speaker 2: you know, presented in a better way so that the

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Speaker 2: banks would find it palatable. And there was you know

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Speaker 2: a lot of talk and just completely no action and

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Speaker 2: it stayed as it was. So it was frustrating for builders,

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Speaker 2: as our mortgage broker community and the property developers, everybody involved.

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Speaker 2: We just couldn't get any traction with it. Right.

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Speaker 1: So, Janine, with these latest announcements that have been made,

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Speaker 1: what needs to happen differently is so that first home

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Speaker 1: buyers can and builders can actually like that they're actually

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Speaker 1: going to be able to access this money and it's

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Speaker 1: going to be worth their while.

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Speaker 2: Well, you know, firstly consult is good. Then there's a

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Speaker 2: housing alliance, but no, there's no one that I'm aware

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Speaker 2: of from our community on it. The second thing is

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Speaker 2: is that if they want it to be processed in

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Speaker 2: that way, they need to do it in a way

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Speaker 2: that the banks control it now like they do with

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Speaker 2: the current first Home OWNUS grant, and it needs to

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Speaker 2: be exactly the same process. If the banks can control

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Speaker 2: the funds, then it can be used as part of

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Speaker 2: the funds to complete for a purchaser. But if they're

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Speaker 2: doing it like they did before, where it's processed in

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Speaker 2: the government here locally and it goes to somebody's bank

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Speaker 2: account that could go missing from there, banks aren't going

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Speaker 2: to consider it. So they just need to do it

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Speaker 2: in very much the same process so the banks can

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Speaker 2: control the funds.

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Speaker 1: Yeah, right, And so I mean, obviously you're having a

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Speaker 1: chat to me about this now on air, but has

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Speaker 1: there been sort of any discussion do you know, from

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Speaker 1: either the government or the opposition in terms of trying

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Speaker 1: to nut this out so that you know, so that

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Speaker 1: they can get it right. So Territorians really are able

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Speaker 1: to get into their first times and take advantage of

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Speaker 1: these grants.

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Speaker 2: And to my knowledge known, they've not not reached out

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Speaker 2: to any of us in the community that are more

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Speaker 2: well known at all.

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Speaker 1: And so I suppose you know, from what I can gather,

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Speaker 1: it sounds as though what it means is that the

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Speaker 1: number of people who are sort of able to access

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Speaker 1: the grants and could be quite limited.

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Speaker 2: Yeah, it's basically like it will create more interest in

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Speaker 2: the building industry. So don't get me wrong. They do

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Speaker 2: really need it, and people will see that money and

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Speaker 2: perhaps consider that where they weren't going to. But it's

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Speaker 2: more probably just going to give people that could already

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Speaker 2: afford to get in just a better house really than

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Speaker 2: they were probably going to get anyway. And it's not

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Speaker 2: going to tap that part of the market that they're

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Speaker 2: trying to attract, which is new people to enter it,

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Speaker 2: or from people to move up from interstate or whatever

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Speaker 2: it is they're trying to drive. It's not going to

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Speaker 2: do that. It's definitely going to stimulate the industry, so

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Speaker 2: we don't want them to not do that, but it's

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Speaker 2: not really going to have as much of the desired

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Speaker 2: effect as they think it.

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Speaker 1: Will, I mean to put it out in real layman's terms.

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Speaker 1: What could they do to make this difference so it

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Speaker 1: is more useful to the intended target audience.

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Speaker 2: Well, as I said, they need to treat it exactly

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Speaker 2: the same as the current first home owners grant all

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Speaker 2: of them where the bank is processing and approving the grant,

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Speaker 2: and that way then people can use that as funds

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Speaker 2: to complete the purchase and the banks can control the

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Speaker 2: money in full. And if they do that and liais

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Speaker 2: like in the Northern Territory, the broker group up here,

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Speaker 2: we are quite a tight knit community. We all know

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Speaker 2: each other and help each other, believe it or not. Yeah,

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Speaker 2: and we have much more direct line to state managers

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Speaker 2: and even spedual ones in the banks than other states

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Speaker 2: do because we have such a tight knit community and

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Speaker 2: we could get it nutted out pretty quickly if they

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Speaker 2: just allowed us to get that process in place.

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Speaker 1: It sounds like they need to do it because fundamentally,

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Speaker 1: we want to see people putting down their roots in

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Speaker 1: the territory. We want to see them building their homes,

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Speaker 1: and it would you betefit not only those trying to

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Speaker 1: enter the housing market, but also as we've touched on

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Speaker 1: the construction industry, those home builders and you know all

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Speaker 1: the Subby's and everybody else that they employ for those jobs.

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Speaker 2: Absolutely, like that's just a flow on. It stimulates jobs,

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Speaker 2: and it stimulates spending in town, and you'll see you

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Speaker 2: establishments more busy. It's just a flow on, a flat

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Speaker 2: effect all around.

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Speaker 1: Yeah.

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Speaker 2: So yeah, but they just need to do it in

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Speaker 2: the right way and consult with the community that does

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Speaker 2: it on a daily basis.

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Speaker 1: Yeah. Well, Bliss home loans owner and also mortgage broke

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Speaker 1: a Jeanine Ashmore, really appreciate your time this morning. Thanks

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Speaker 1: for having your chat with us and raising that. It's

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Speaker 1: not something that I would have been aware of otherwise. No, thanks,

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Speaker 1: thanks for talking, no worries, Thank you,