Breaking News! First Home Loan Cap Increase
Breaking News for First home buyers !
There will no longer be house price caps on First Home Loans, which are designed to help first home buyers with their deposits if certain criteria is meet from May 19 this year.
Woods said it would allow first home buyers a greater choice of homes.
The loans are issued by selected banks and other lenders, and underwritten by Kāinga Ora to allow the lender to provide loans that wouldn't otherwise fall within their lending standards.
House price caps on First Home Grants have also been increased in Christchurch for existing homes from $500K to $550K and new builds from $550K to $750K
These changes would kick in from June 1, 2022.
So, if your plan is still to buy or sell in 2022 but you’ve been reluctant to make a start based on what you’re seeing or hearing about the market, let us help by providing you with the information and power to make it happen!