Shared home ownership is becoming a popular way to buy a first home in New Zealand, but finding a home that is suited to shared equity is not always that easy – but now we have the “Shared Equity tick®” which you will start to see on property listings.
It’s a new concept to solve a common problem.
What Is the Shared Equity Tick?
Put simply, the Shared Equity tick® is a logo applied to properties that meet the lending criteria for one or more of the shared equity providers.
You are about to start seeing houses for sale that carry the Shared Equity tick®, which means those houses can be purchased with as low as a 5% deposit using one of the shared equity models such as First Home Partner, YouOwn and others.
The properties that carry the tick only do so because they fit the criteria of one or more of the shared equity providers.
As a buyer you can save a lot of time and frustration by knowing that you are looking at properties that should be approved by the shared owners like Kainga Ora with First Home Partner, YouOwn and the others like Aera that are about to hit the market. It is designed to take the guesswork out of searching for homes so when you see a property carrying the tick, you know that it has already been pre-approved.
The “tick” gives you a smarter start in the search for your new home.
The Kiwi First Home Buyers Group is all about helping aspiring first home buyers reach their goal and as such, in conjunction with FirstHome.Kiwi website we are helping to introduce the Shared Equity tick® to the New Zealand housing market.
Where Can You Find Property Listings?
To show you how it works, a number of properties have been listed on the FirstHome.Kiwi website.
These properties meet the criteria for at least one shared equity provider in New Zealand.
You’ll see that each property carries the Shared Equity tick®.
Moving forward other property listing sites will start to display the Shared Equity tick® on complying properties also, and the aim is to have this as a standard on hundreds of suitable listings throughout New Zealand.
We’re just getting started, but check out the Real Deals today.
