PHOTO: PHIL DOYLE/STUFF – Sharing the burden of a mortgage might be possible with the Government or other entity in the near future.
If you don’t earn enough for a Kiwibuild house and don’t qualify for a state house, what do you do?
For low to medium-income earners, their only hope of home ownership might be shared equity.
That’s a scheme where a big player – the Government, a council or a charity – takes on a share of the mortgage, and the aspiring home owner raises the rest. They then share the capital gain that comes when the home owner sells.
Housing Minister Phil Twyford is working on just such a plan, although the details could take months to sort out.
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