Great news for those looking to use KiwiSaver and Housing NZ HomeStart subsidy to get into their first home!
From Monday the 1st of August the house price caps and income thresholds will increase.
Income thresholds will increase from $80,000 to $85,000 for singles and $120,000 to $130,000 for couples.
House price caps will increase by $50,000 for existing properties while new build properties price cap will increase by $100,000. Click here to view the total lending for your specific area
The caps will also apply to Welcome Home loans, which enable first home buyers to buy with a 10% deposit. Due to the WHL being government guaranteed this means they are exempt from the new RBNZ proposed LVR restrictions (loan-to-value) – click here to see if you are eligible for the WHL grant