The Premier has announced an insurance lifeline for a third of the Porter Davis victims after criticising the builder’s actions as “shameful”.
criticised for reportedly slashing prices of homes to bait new customersThe Victorian government announced the $15 million support scheme to help secure partial deposits - up to five per cent - for homeowners that had contracts with the builder but found out they had no coverage with insurer VMIA.
Mr Andrews described the actions of the builder as “heartbreaking” for Aussies as it tainted the “biggest purchase of their life”.“People who have worked hard. People who have saved up their money, they’ve gone to the bank, they’ve got all their approvals. This is years in the making for a lot of people.
The Premier said he could not rule out strengthening laws for builders to take out insurance to reduce the practice of not taking out cover until a building permit is issued.Mr Andrews said investigations into Porter Davis allegations were ongoing and that he hoped Victorians with homes under construction would have their properties eventually completed with other companies.
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