1 juill. 2005 - Welcome Home Loan - starts

Description:

With a Welcome Home Loan people can borrow most or all of the cost of a house. For houses up to $150,000, eligible borrowers do not require a deposit. For houses costing more than that, they need to contribute a 5 per cent deposit. Depending on their ability to meet repayments, people can borrow up to $280,000 to purchase their new home.

Welcome Home Loans will be available for households earning up to $85,000 a year, or up to $120,000 if there are three or more borrowers in the household (these thresholds have been raised from $65,000 and $100,000 respectively). Loan applicants need to have a good credit history, not already own a home and must live in the house they buy.

While the pilot scheme was available only through Kiwibank, Welcome Home Loans will now also be offered by other home loan providers. Two new lenders – TSB Bank and the Nelson Building Society – have already signed on with Housing New Zealand to deliver Welcome Home Loans. Discussions are now underway with several other lenders to offer the loans.

Source: https://www.beehive.govt.nz/node/23540

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