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On-sold over-cap properties

On 15 August 2019 the Government announced a programme so that owners of on-sold over-cap properties in Canterbury are able to apply for financial help to have their homes repaired.   

If you’ve bought a home in Canterbury before 14 August 2019 and discovered that it is damaged over the EQC cap, you may be eligible for an ex gratia payment to cover the cost of repair.  

The deadline for homeowners to apply for the ex gratia payment has been extended by two months. You now have until 14 October 2020 to register. After that time, the programme will not be available.

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Find out if you qualify and how to apply

Depending on when you purchased your property and how it was settled you may be able to receive an ex gratia payment equal to the agreed cost of repair.

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You may be eligible to receive the payment under the support package if you meet all of the following:  

  1. You must be the current owner of the property.
  2. Your application must have been made on or before 14 October 2020.
  3. You must have purchased the property within the specified time period. To meet the requirement, you must have:
    1. made your offer to purchase the property after the natural disaster damage arising from the Canterbury Earthquake Sequence occurred to the property; and
    2. made your offer to purchase the property on or before 15 August 2019.
  4. If your Offer was subject to a Building Condition, you must have satisfied or waived that Building Condition on or before 15 August 2019.
  5. The original owner(s) of the property must have lodged at least one claim with EQC.
  6. 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.

If you would like to register your interest for the ex gratia payment please use this online on-sold property register of interest form
Alternatively use our printable register of interest PDF form

You can also call us on 0800 DAMAGE (326 243) or email info@eqc.govt.nz  

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What is payable under the policy

If you qualify, payment will be based on how the property was repaired and a new scope of works.

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The scope of works that takes into account: 

  • the work required to repair the natural disaster damage in accordance with the EQC Act, and  
  • any other reasonable cost of that repair work.  

We may have settled the original homeowner’s claim by a managed repair (where we undertook the entire repair process), cash payment (where the homeowner receives a cash payment and manages the repair themselves), or a combination of the two.  

If a previous homeowner received a cash payment for some or all of the repairs, and those repairs need addressing, you will need to find out who did the work, and what warranties are in place. You can read about warranties on the Ministry of Business, Innovation and Employment’s building website 

If you find that the repairs have not been carried out, you may need to find out more from the person you bought the home from, and the real estate agent you used to buy the property.  

It’s important that any payment you receive is used for repairing or replacing damaged property. Any future insurance claims or cover may be affected if the payment is not used for this purpose.  

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Has the EQC claim been assigned to you?

For the benefit of an EQC claim to be paid to you, the right to the claim needs to be transferred to you. This process is called ‘assignment’.

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