On the 15 August 2019 the government announced a new package for owners of on-sold over-cap properties in Canterbury. This means that if you’ve brought a home in Canterbury and discovered that it is damaged over the EQC cap, you may be eligible for an ex gratia payment to cover the cost of repairs. This new policy is only available until the 14 October 2020. After that the policy will not be available.
You may be eligible to receive the payment under the support package if you meet all of the following:
- You must be the current owner of the property.
- Your application must have been made on or before 14 October 2020.
- You must have purchased the property within the specified time period. To meet the requirement, you must have:
a) made your offer to purchase the property after the natural disaster damage arising from the Canterbury Earthquake Sequence occurred to the property; and
b) made your offer to purchase the property on or before 15 August 2019. - If your Offer was subject to a Building Condition, you must have satisfied or waived that Building Condition on or before 15 August 2019.
- The original owner(s) of the property must have lodged at least one claim with EQC.
- Before you made your offer to purchase the property the claim(s) lodged by the original owner(s) to which an ex gratia payment relates must have already been assessed by EQC and determined to be under-cap.
- For more information you can also visit the EQC website On-sold over cap properties using the below link
- find out more now
Do you have any unrepaired damage or repairs that have not been fixed correctly? You might qualify as an EQC On-Sold property.