PHOTO: 123RF – The scheme is aimed at owner-occupiers.
BNZ is preparing to launch a scheme that will help first-home buyers into houses – in return for a slice of the equity.
The shared ownership programme, involving an as-yet-unnamed third party, will not launch until next year.
If people identify a house they want to buy, they will be apply to the bank for a mortgage for part of the price. BNZ gave the example of buyers with the deposit and ability to service a loan for 85 per cent of a property.
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