Kiwi Mortgages



Kāinga Ora is discontinuing the acceptance of new applications for the First Home Grant.

Pre-approved applicants can still use the First Home Grant and pre-approvals are valid for six months from the date of application approval.

The Government has declared its decision to remove the First Home Buyer Grant and allocate some of the funds saved to support the construction of more social housing through private providers.

The First Home Grant was first introduced in 2010. It had specific eligibility criteria laid out and many Kiwis took advantage of this scheme. 12,000 people were granted First Home Grants only last year. The Ministry of Housing and Urban Development (HUD) said that 87,000 grants had been disbursed since June 2017.

Chris Bishop, the Minister of Housing, has announced the discontinuation of the First Home Grant. By eliminating the grant, the government expects to save around $245 million over the next four years, and a portion of these savings will be allocated to the establishment of 1,500 social housing units through partnerships with private and community organizations.

The government would keep the First Home Loan Scheme, stating that the data they had reviewed indicated it was a more efficient method of assisting first-time home buyers.