Many home owners in Victoria are losing life savings due to dodgy builders walking off the job – mid construction.
Our Partner Alex Martin was recently featured in an Article by ABC news, and provides his comments on how governments should be doing better.
Legal loopholes need to be closed, says property law expert
Taurus Legal Management property lawyer Alexander Martin said the trend showed there had been a lot more litigation between home owners and their builders in tribunals around the country.
He said changes need to be made.
“On the insurance front, there are definitely some loopholes that could be closed and the maximum amount that is paid out to home owners needs to increase,” he said.
“The $300,000 limit in Victoria, and similar limits in other states, is sometimes not enough to pay for the financial loss consumers suffer.”
He has also called on governments to better fund the tribunals that deal with building disputes to speed up processes for home owners.
“If a builder just abandons a site and stops working, typically they are not covered by insurance and the home owner needs to pursue someone through the courts, which is a difficult and onerous position to be in and I don’t think that’s very fair ,” he said.
“One of the biggest problems in the industry is the delay.
“Sometimes it takes 12-18 months for proceedings to be heard in tribunals around the country, all while you are paying interest on your loan or your land is sitting there open to the elements. You really need an outcome much quicker.”
Click here to read the full article by ABC political reporter Bridget Rollason.