PHOTO: ROSS GIBLIN/STUFF Housing Minister Phil Twyford, pictured with fellow minister Julie Anne Genter, has raised the price cap for the programmes outside of the main centres.
The Government is upping the price cap for two housing programmes outside the main centres to bring them in line with KiwiBuild price caps.
The Welcome Home Loan and HomeStart Grants can now be used to buy newly-built homes for up to $500,000 over the entire country, not just in the main areas. This is a shift from a $450,000 cap previously.
The Welcome Home Loan allows first-home buyers making up $130,000 a year as a couple or $85,000 or less as an individual to buy a house with a 10 per cent deposit instead of the industry standard 20 per cent. The HomeStart grant gives buyers up to $20,000 of help in getting that deposit.
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