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Salvation Army calls for govt to co-own houses with first home buyers

Author
Newstalk ZB,
Publish Date
Wed, 17 Oct 2018, 6:51AM
The new report, Beyond Renting, calls for "KiwiBuy". Photo / Getty Images

Salvation Army calls for govt to co-own houses with first home buyers

Author
Newstalk ZB,
Publish Date
Wed, 17 Oct 2018, 6:51AM

The Salvation Army is calling for the Government to stump up some of a house mortgage, to help lower income people get into homes.

The new report, Beyond Renting, calls for "KiwiBuy" - a shared equity scheme to help 50,000 New Zealanders buy homes, when they would otherwise be renting.

The Government would pay for up to a third of a house deposit up front, with the owner paying that amount off over time.

Spokesperson Major Campbell Roberts told Kate Hawkesby it would help many who can't afford the mortgage on a $600,000 home.

"It would enable people to buy about 40 or 50 or even 60 percent of the house and the Government would hold onto the rest until they are at the point where they could actually buy."

Housing Minister Phil Twyford already has a work underway on a shared equity scheme.

LISTEN ABOVE AS CAMPBELL ROBERTS SPEAKS WITH KATE HAWKESBY 

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