UDIA supports the objective of ensuring appropriate administrative accountability and participant protections under the Help to Buy scheme. We recognise that providing recourse to review builds confidence for eligible participants and supports the integrity of the program. There are several matters that should be considered to enhance the regulations:
- Delivery Timeframes and Administrative Certainty – provide clear protocols and service standards be established to ensure ART reviews are resolved quickly and do not impede property transactions.
- Consistency Across Jurisdictions – ensure that ART review processes do not create inconsistencies or conflicts with State-based conveyancing or housing assistance processes.
- Safeguards Against Strategic or Vexatious Reviews – provide safeguards or guidance be developed to limit the potential for vexatious or strategic challenges that could undermine the financial sustainability of the scheme.
- Transparency and Accountability – commit to regular public reporting on the volume, nature and outcomes of ART reviews under the scheme, and to review the operation of the Regulations after an initial implementation period.
Our full submission can be found at the Download Button below: