CREDIT SUPPORT FOR QUEENSLAND HOMEBUYERS

Breaking into Queensland’s housing market just got easier, thanks to a new Consumer Credit Campaign from the Beattie Government.

Fair Trading Minister Margaret Keech today launched an online Home Buyer’s Guide offering independent advice to help Queenslanders buy and pay off their first home.

She also announced a funding grant of more than $100,000 towards research by the Centre for Credit and Consumer Law (CCCL) at Griffith University.

Mrs Keech said the Beattie Government was committed to protecting credit consumers and helping Queenslanders break into the housing market.

“With growing demand and increasing house prices, people are borrowing more to achieve their dream,” she said.

“The Government’s Consumer Credit Campaign is targeting people with information and resources to help them buy and keep their own home.

“The Office of Fair Trading’s online Home Buyer’s Guide aims to prepare people for their biggest financial decision.

“It helps them understand how they can manage their credit arrangements and avoid the potential pitfalls when they buy real estate.

“The online guide takes potential home buyers step-by-step through the process from planning to buying and paying off their own home.

“A great feature of this website is a budget planning tool which helps people work out what they can afford to borrow. It also provides information about how to save a deposit, get finance and research the property market.

“Informed consumers make better financial decisions and are better equipped to protect themselves against unfair or deceptive practices.”

Mrs Keech said the CCCL funding would produce high-quality research, generate ideas and provide a source of independent advice about credit and consumer issues and their impact on Queenslanders.

Director of the Centre for Credit and Consumer Law Nicola Howell said the Beattie Government funding highlighted the importance of the Centre’s work.

“The CCCL works with consumers, industry and government and acts as a voice, particularly for low income and vulnerable people, in Queensland policy development and legal debate,” Ms Howell said.

“The Centre is focused on helping develop a consumer advocacy sector in Queensland by working with community and consumer organisations across the state.”

Visit the Office of Fair Trading’s online Home Buyer’s Guide at www.fairtrading.qld.gov.au or phone call 13 13 04 to order a Free Home Buyer’s Kit.

Media Contacts:

Joanne Gibbons (Minister’s Office) - phone 3224 2007

Tim Goodwin (Office of Fair Trading) - phone 3119 0062 or 0439 714 326