23 October 2021
Dodgy developers and bad builders who construct shoddy apartment towers that can lead to heartbreak and financial ruin for home-buyers are set to be driven out of NSW with a ground-breaking new defects insurance scheme.
The DLI advisory panel comprises insurance experts, developers, financiers, strata bodies and the apartments consumer representative, the Owners Corporation Network (OCN).
OCN executive officer Karen Stiles said members were excited by the news of the insurance.
“This will save apartment purchasers enormous amounts of time, money and stress trying to drag wrongdoers through the courts to have defects fixed,” she said. “We’re delighted.”