Opposition Spokesperson on Land, Senator Sophia Frazer-Binns, says the National Housing Trust (NHT) should reconsider its plan to require credit reports from its borrowers.
She says some people may have their credit reports negatively affected by factors out of their control.
Senator Fraser-Binns says the credit report is unnecessary. She says the NHT shouldn’t put hurdles in the way of people who’re trying to own a home.
The NHT says credit reports will only be used to verify information from people applying for more than $5.5-million.
Several people have expressed concerns that the NHT’s planned use of credit reports will make it harder for people to access loans. But the NHT says the credit reports will not be used to deny contributors access to loans.