‘We just wanted a nice house to retire to. At this stage we’re thinking it’s probably gone.’
“It’s still not finished, and now we’re in a state where we can’t really afford to finish it.”The couple has been told it will cost $260,000 to finish their home, but that dream seems even further away after they were dealt a fresh blow over insurance.
Two years ago, the WA government overhauled home indemnity insurance to protect homeowners affected by builder insolvencies and other issues stopping properties from being completed.But in a cruel twist for Hoyland and Radley, their contracts pre-date eligibility for the increased payments. The couple was told they don’t qualify for the new housing insurance scheme because they missed the cut-off date by a matter of weeks.Credit:It means the couple, who are already crippled with financial worry, have been left to find another $160,000 themselves.
“Where we find this money we’re not sure. We might have to tap into our superannuation or see if we can find someone to extend a line of credit to us,” Radley said.“We just wanted a nice house to retire to. At this stage, we’re thinking it’s probably gone,” she said.Tina Hoyland and Steven Radley were told it will cost $260,000 to finish their home.
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