Partner with Kainga Ora to buy your first home



Are you a First Time Home Buyer who doesn’t quite have enough to buy a home that meets your needs? Well, we have news for you. Kainga Ora – Homes and Communities have launched a new shared-ownership product called First Home Partner which may help you buy your first home.

The purpose of this scheme is to help first home buyers who have part of a deposit and earn enough to cover a standard home loan but just need that extra financial support to enable them to purchase a new home in today’s market.

If you are eligible for the scheme, Kainga Ora will contribute an agreed amount towards the purchase (this is determined on a case-by-case basis) and in return they will own a share of your property.  Essentially, you will be the majority homeowner and occupier of the property and Kainga Ora will only own a share which is determined on how much Kainga Ora contribute towards the purchase.  The maximum contribution Kainga Ora will make towards a purchase is 25% or $200,000.00, whichever is lower.

To be eligible for the First Home Partner Scheme, you must:

  • be over 18 years old
  • be a New Zealand citizen, permanent resident, or resident visa holder who is ordinarily a resident in New Zealand OR be applying with someone who meets the citizenship requirements
  • have a total household income before tax of no more than $130,000.00
  • have a good credit rating
  • be a first home buyer
  • not previously received shared ownership from Kainga Ora

In addition to the above eligibility criteria, applicant/s will need to:

  • be buying a brand-new home, or home off the plan
  • contribute a minimum of 5% towards the deposit
  • meet the lending criteria of a participating bank in the scheme
  • commit to living in the home as your primary place of residence for the duration of the shared ownership
  • Endeavour to purchase the shared ownership in full within the first 15 years of ownership.

If you think this scheme is suitable for you and you meet the eligibility criteria or simply wish to find out more, please visit Kainga Ora’s website for further information and how to apply.