First Rate Mortgages

Kiwibuild - Buying a home


Our last newsletter talked briefly about the KiwiBuild programme and there has been a lot more in the news about the programme since.

Some mainstream banks have advised already, that they are offering a KiwiBuild package and/or first home buyer packages of some sort.

Our very own Kim Lyons recently wrote to the Honorable Phil Twyford (MP for Te Atatu, Minister of Housing and Urban Development and Minister of Transport) seeking feedback on how we could provide further information to our clients through our newsletters. An insert from this letter is below;

“Thank you for your email regarding information about the Kiwibuild programme that you can put on your website or in newsletters you provide to your clients as a mortgage broker.

Housing is a top priority for this Government and we are committed to making it easier for New Zealanders to own a home. The Kiwibuild programme is a significant initiative which will deliver 100,000 affordable homes for first home buyers over the next 10 years. Kiwibuild homes are new modest, starter homes.

On your point about the income caps for Kiwibuild homes being higher than the Homestart Grant threshold, we considered using the lower income caps for Kiwibuild. However, we chose not to exclude people who earn more than the Homestart Grant threshold but still find themselves unable to afford a home.”

Please go to these links to read the full letter…

KiwiBuild page 1

KiwiBuild page 2