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Parliamentary Questions

Question Without Notice No. 683 asked in the Legislative Council on 24 June 2020 by Hon Charles Smith

Minister responding: Hon P.C. Tinley
Parliament: 40 Session: 1

Answered on

HOUSING — KEYSTART — HARDSHIP ASSISTANCE

683. Hon CHARLES SMITH to the minister representing the Minister for Housing:

I refer to question without notice 657, asked yesterday, regarding hardship assistance approvals. With respect to the standard and COVID hardship approval home loan customers, how many of these loans were previously sold to NAB Bendigo in 2017, which, I note, Keystart still services?

Hon STEPHEN DAWSON replied:

I thank the honourable member for some notice of the question. The following answer has been provided to me by the Minister for Housing.

Keystart does not sell home loans to other financial institutions, but has equitably assigned a number of loans to Bendigo Bank and Adelaide Bank. There were no equitable assignments to the National Australia Bank. Of the 335 approvals for standard hardship assistance between 1 January 2020 and 22 June 2020, a total of 71 have been equitably assigned. Of the 2 129 approvals for COVID hardship assistance between 1 January 2020 and 22 June 2020, a total of 283 have been equitably assigned. The hardship program is not a separate home loan product, but is assistance available to all existing Keystart customers experiencing financial difficulty.