Game Changer! First Home Partner Scheme

Published on 17 August 2023 at 15:03

Are you a first-time homebuyer struggling to bridge the gap between your deposit and home loan? The First Home Partner program might just be your ticket to homeownership.  In collaboration with Kāinga Ora, this shared ownership scheme offers an innovative solution to help you secure your dream home.


So, what exactly is shared ownership? In this arrangement, you team up with a third party – in this case, Kāinga Ora – to jointly purchase a home. While you hold the majority of the ownership and live in the home, Kāinga Ora retains a share in the home, which you gradually buy out over time.


The size of your deposit, the amount a participating lender is willing to lend you, and Kāinga Ora's contribution toward the home purchase determines the max purchase price you can look at . To illustrate, if you've saved 10% of the home's purchase price, a participating bank is ready to extend a 75% loan, and Kāinga Ora chips in with 15%, they'll secure a 15% share of ownership.  The maximum property value under this scheme is $800,000 (25% ownership share)


Eligibility is assessed on a case-by-case basis

  1. Lending Requirements: Meet lending criteria of participating lander and contributing at least 5% of the home's purchase price.
  2. Ownership Duration: Commit to living in the home for at least three years.
  3. Shared Ownership Agreement: Recognize that your partnership with Kāinga Ora is governed by a Shared Ownership Agreement.
  4. Annual Check-ins: Have annual financial reviews with a Kāinga Ora to help get to full home ownership.
  5. Purchase Goal: Buy back Kāinga Ora's share within the first 15 years of ownership, completing the buyout by 25 years.



  • Be at least 18 years old
  • Hold New Zealand citizenship, permanent residency, or relevant residency visas
  • Maintain a pre-tax total household income of $150,000 or less
  • a favorable credit rating
  • Be a first-time homebuyer
  • Not have previously received shared ownership support from Kāinga Ora


Ready to take the leap towards shared homeownership?  Give us a shout at MortgageMe at our contact here or below. 

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