CBA has backed the creation of a searchable public register of buildings with flammable cladding to ensure potential purchasers know what they are buying
Commonwealth Bank of Australia, which has the nation's largest home loan book, said it backed the creation of a register arguing the health and safety of its customers was paramount.
The Neo200 apartment building in central Melbourne caught fire in February. It is covered in combustible cladding.Westpac, Australia's second largest bank, backed transparency for owners and said it took the "issues" around cladding "very seriously" but stopped short of backing a register. Section 32 clauses and OC certificates in real estate contracts are meant to inform purchasers about potential issues in the property they are purchasing.
Mr Wilmoth said he subsequently discovered the franchisee owners corporation manager for Melbourne Body Corporate Management had failed to inform owners of the problem."That’s going to involve getting information from the franchisee. If there is anything that is wrong, we will certainly rectify any errors made by the franchisee."In NSW, owners of buildings with external combustible cladding are required to register their building at a government-controlled online portal.
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