The Government has just announced a financial assistance package for leaky home owners, that will be available from today.

What this means is that the Government will give 25% of the repair costs with the Local Council that signed the work off providing another 25% of the costs.

This will leave 50% of the costs up to the home owners to come up with.  To assist with this the Government have said that they will underwrite the loans with the banks, although it is uncertain at this point by how much.

The banks that have agreed to lend under this deal are: ANZ, ASB, BNZ, HSBC, Kiwibank, SBS, TSB and Westpac.

The down side to this is that by taking the Government and Council up on this offer they waive the rights to take any further legal action against the Government or Local Council.

The good side to this deal is that it aides in getting the works completed so that people can move on with their life and helps the country to get past the leaky building issue that we have.

The question is will people take the offer and waiver their rights to legal action? There has been an article published today advising caution on taking the offer up and to seek legal advice and independent quotations for the work first.  For full details you can read the article here.  It seems that the offer is not a straight forward one and comes with a few fish hooks.

What would you do?