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2 • NEWS

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Haven for homeowners By SHARON KEMP

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HOME TRUTHS

Bendigo Weekly – Friday, June 15, 2018

A SCHEME that is the brainchild of Bendigo-based Community Sector Banking and housing provider Haven; Home, Safe will start this month as a pilot program in two Australian states setting 100 people up to buy their own homes. Community Sector Banking, a joint venture of Bendigo and Adelaide Bank and 38 not-forprofit shareholders, is the sole lender for the Unpack for Good program that will be trialled for a year with Haven and New South Wales-based Housing Plus. Bendigo Bank is also involved in a separate shared equity scheme, also launched this year, in which the Victorian government plans to lend to 400 people otherwise unable to afford their own home. Bendigo Bank is on the lending panel for the HomesVic project. Community Sector Banking chief executive Andrew Cairns said he was not surprised Bendigo Bank would work in the shared equity sector. “You would expect Bendigo Bank with its community minded approach, looking at building societal outcomes not just financial outcomes, this is totally in line with our values,” Mr Cairns said. It is also good business given

HELPING HAND: A new scheme will allow easier access to home ownership. the mortgages will not differ from the normal product and the bank will share the risk with housing providers, including Haven and New South Wales-based Housing Plus in one scheme, and the state government in the other. Mr Cairns said the Unpack for Good pilot differed because it affected the release of 80 per cent of the capital that housing providers have wrapped up in rental homes that are currently fully

owned by Haven. Mr Cairns said the release of that money should allow providers such as Haven and Housing Plus to build new housing stock. Essentially, the program is a three-way mortgage between CSB, the aspiring home owner who takes out the mortgage, and the housing provider who provides the deposit and retains a 20 per cent stake in the property. “It would be a better out-

come to get five families into five homes and Haven owning a portion of each, rather than Haven owning one home outright and renting it,” Mr Cairns said. The HomesVic model includes the state goverment as the equity partner in a loan arrangement. Bendigo is a preferred location for the scheme, and the HomesVic website says the local provision was filling.

Thank you Greater Bendigo Dai Gum Loong to debut Easter 2019 Our fundraising goal to purchase the new Imperial Dragon Dai Gum Loong and restore the much-loved Sun Loong has been reached. Thank you for your generous support. A new Imperial Dragon is created every 50 to 100 years, so you have helped to make history and continue Bendigo’s proud tradition of celebrating our city’s Chinese heritage during the Bendigo Easter Festival, Australia’s longest-running community festival. The fundraising campaign also attracted the support of the City of

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Greater Bendigo and Victorian and Commonwealth governments. Dai Gum Loong will be approximately 120m long and is expected to have about 6,500 scales. He is currently being built by celebrated Hong Kong dragon maker Master Hui. A separate dragon maker will soon be appointed to start work on restoring Sun Loong’s scales. Sun Loong’s head, neck, tail and frame will be restored locally. Please join us for Easter 2019 as Sun Loong parades one final time and hands over the streets to Dai Gum Loong.

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