Latest News

Government boosts assistance for First Home Buyers using Kiwisaver

1 August 2016

From Monday 1 August 2016, income caps will increase from $80,000 to $85,000 for a single person and from $120,000 to $130,000 for a couple wanting to use the Kiwisaver HomeStart scheme.

The Government is adjusting both the income caps and house price caps to allow first home buyers access to homes in a more realistic price range when using the Kiwisaver scheme.

HomeStart Grant

The HomeStart programme helps first home buyers put together a deposit by granting them up to $10,000 for an existing house and $20,000 for a new home, on a joint basis.

House price caps will increase by […]

Latest News, Property Finance|

Reserve Bank tightens rules for property investors

21 July 2016

What’s happening?

The Reserve Bank of New Zealand (RBNZ) is tightening the rules for property investors, with a requirement to have a maximum LVR* of 60% nationwide.

The RBNZ has kept the LVR threshold for owner-occupied the same at >80% LVR, but has replaced current regional volume limits (10% Auckland, 15% rest of NZ) with a nationwide limit of 10%.

*LVR is Loan to Value Ratio – it refers to the amount borrowed versus the value of the property.

What is changing and when?

These changes are effective 1 September, but the banks are starting to adopt them now.

All property investor applications will be […]

Latest News, Property Finance|