Boost for Bay home buyers

Some 75 people in Bay of Plenty are receiving help to buy their first home through the government's new $435 million KiwiSaver HomeStart scheme.

Government doubled support for first home buyers through KiwiSaver HomeStart in April, with couples able to apply for grants of up to $10,000 for a deposit on an existing home, and up to $20,000 for a new-build.


Bay of Plenty MP Todd Muller says $305,000 in grants have been paid in the region. Photo: File.

Bay of Plenty MP Todd Muller says: 'This is the most generous support for first home buyers in more than a generation. In the Bay of Plenty alone, there has been $305,000 in grants paid.

'Nationwide, HomeStart is proving to be very popular with almost 6,300 applications approved.

'Buying a first home is a huge step and I am pleased to see so many young families in the Bay are making the most of the support available.

Papamoa's Alyson Bell is one resident who recently purchased a house with support from scheme.

'The KiwiSaver HomeStart process got us into our amazing home a year-and-a-half sooner than we could have otherwise,” says Alyson.

'Getting the first home grant was a straightforward process and took around four-six weeks. I filled out a form and provided the relevant supporting documents to prove we met the criteria.

'This is a brilliant example of what New Zealanders can achieve with the help of this scheme and I congratulate them on becoming homeowners,” adds Todd.

'I would encourage all first-home buyers in the Bay of Plenty to check whether they are eligible.

'Over the next five years, HomeStart is expected to help 90,000 people achieve their dream of home ownership.”

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3 comments

Sweet...

Posted on 24-11-2015 11:09 | By jed

This scheme will push up the value of my house.


Jed

Posted on 25-11-2015 03:48 | By Kenworthlogger

You will pay more rates then.


Well Done

Posted on 25-11-2015 18:29 | By carpedeum

Good to see that the Government scheme is being so effective. Keep up yor good work


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