Kiwi home loan scheme 'surging ahead'

  • 24/11/2015

KiwiSaver HomeStart loans are "surging ahead" as young families realise significant grants are available, the Government says.

The scheme started on April 1 and in its first three months 2011 loans were issued.

In the second three months, from July to September, there were 4261.

It provides grants of up to $10,000 towards the deposit for the purchase of an existing home and grants of up to $20,000 for a newly-built home.

Building and Housing Minister Nick Smith says the figures confirm the government is on track to meet its target of helping 90,000 people over the next five years to buy their own home.

"It's making home ownership a reality for Kiwis for whom owning their own home may otherwise be out of reach."