12 set 2020 ano - Progressive Home Ownership Fund - starts

Descrição:

Progressive home ownership (PHO) can help people into their own homes through arrangements like rent-to-buy, shared ownership or leasehold schemes.

Rent-to-buy
An eligible household initially rents their home from an approved PHO provider. Within a 15-year period the household puts aside savings and buys the home from the provider.

Shared equity
An eligible household becomes a part-owner in a home, along with an approved PHO provider. Within a 15-year period, the household buys out the PHO provider and becomes the sole owner of the property.

Leasehold
The eligible household buys a registered leasehold interest in a home from a PHO provider with the right to occupy the property over the long-term, such as 100 years. The freehold interest in the property is retained by the provider and the leaseholder pays a modest ground rent, as well as servicing any mortgage commitment.

Freehold home ownership is not achieved using a leasehold model, but the leaseholder has secure tenure in their own home and the opportunity to build savings over the term of the lease.

About the Progressive Home Ownership Fund
The $400 million Progressive Home Ownership Fund offers approved PHO providers funding via a 15-year interest free loan. The PHO providers then use that money to fund homes that are then used to partner with individuals, families and whānau in a rent-to-buy, shared equity or leasehold arrangement.

Source: https://www.hud.govt.nz/our-work/progressive-home-ownership-fund/

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