Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search


Agreement to help Tauranga families into Homes

Agreement to help Tauranga families into Homes

Treaty settlement tribe Ngā Potiki a Tamapāhore Trust formally signed an agreement today with Westpac NZ that will mean more homes for Tauranga families. The Ngā Potiki Housing Shared Equity Scheme will assist Ngā Potiki families realise their dream of home ownership. The signing marks the culmination of over twelve months work for Ngā Potiki with their advisers to design the scheme, and over eight months of negotiations with Westpac NZ to finalise the agreement.

The scheme is one of only three shared equity housing schemes in New Zealand designed to assist first time home buyers into home ownership and the property market.

“We are very pleased to be able to deliver this opportunity to our tribal members and provide real and direct benefits through our treaty settlement. We welcome Westpac as a long-term partner to Ngā Potiki.” said Ngā Potiki Chairman, Colin Reeder.

“The scheme will see Ngā Potiki contributing equity as a co-owner with tribal members to buy their first homes and get them on the property ladder. Westpac NZ will provide lending to the member, who will need to satisfy the bank’s normal criteria. As equity builds in the property, the member will be able to buy Ngā Potiki out of the arrangement", explained Victoria Kingi, Ngā Potiki Housing Project Co- Ordinator.

Westpac NZ CEO David McLean said Westpac is delighted to partner with Ngā Potiki.

“We’re committed to growing New Zealanders’ financial wellbeing and keen to contribute to innovation that helps more New Zealanders into affordable homes.

We think this is a great initiative from Ngā Potiki that helps their members overcome the barrier of needing a large deposit and lowers their loan servicing costs. As the owner’s income or equity rises they can then take on a greater stake until they own the whole property.

With housing increasingly unaffordable in many areas we think shared equity is a solution that has strong potential,” said Mr McLean.

“The provision of quality affordable housing is a critical post treaty settlement strategy for Ngā Potiki, the benefits of which will positively impact many other areas such as health, education, employment, general wellbeing and whanau wealth.

Ngā Potiki has approved the first 21 families who will benefit from the scheme, with construction to commence in October this year,” said Victoria.

Ngā Potiki a Tamapāhore Trust are the owners of housing development, Manawa, in Papamoa, now in its second stage, and are recognised for their literacy and numeracy programmes provided to many schools in Tauranga, including all five Papamoa primary schools, as well as supporting Papamoa College raise Māori attainment of NCEA Level 2. Ngā Potiki is also a foundation member of the Māori and Pasifika Trade Training Consortium that delivers trade training opportunities into the Bay of Plenty region and South Waikato in partnership with industry and Toi Ohomai Institute of Technology, as well as many other initiatives that improve social and economic outcomes for their members. The Ngā Potiki a Tamapāhore Trust is also committed to the protection and preservation of its environmental heritage and sees this as benefiting the wider community as well.

© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines


Gordon Campbell: On Reforming Parliament’s Toxic Culture

It would be nice to think Parliament was a forum where rationality ruled – and where policies are raised and evaluated in terms of their contribution to the greater good. Obviously, it isn’t like that... More>>

Historic Assualt Allegation: Parliamentary Service Staff Member Stood Down
Rt Hon Trevor Mallard said today: “I do not want to cut across any employment or possible police investigations, but I am satisfied that the Parliamentary Service has removed a threat to the safety of women working in the Parliamentary complex." More>>


Fatal 2018 Crash: Police Officer Should Not Have Engaged In Pursuit

The Independent Police Conduct Authority has found that a Police officer should not have tried to stop or pursue a car thought to contain young people in Palmerston North on 28 May 2018. More>>


New Poverty Targets: Goals Overlook 174000 Children In Worst Poverty

Child Poverty Action Group is pleased to see the Government set ambitious 10-year targets for child poverty reduction, but we are disappointed not to see a target set for improving thousands of young lives where the worst of poverty is found. More>>


Study: Guidelines Needed To Avoid Risks In Government AI

New Zealand is a world leader in government algorithm use – but measures are needed to guard against their dangers. This is the conclusion of a New Zealand Law Foundation-funded report from the University of Otago’s Artificial Intelligence and Law in New Zealand Project. More>>


Pike River: Families Welcome Opening Of Drift

The group representing 29 of the Pike River Families - the Pike River Family Reference Group - has welcomed the unsealing of the mine at a private family event this morning... More>>


Auckland Harbour Bridge: New Design For Walking And Cycling Crossing

The NZ Transport Agency has released plans for its preferred option for a shared path over the Auckland Harbour Bridge which will transform walking and cycling not only across the harbour, but throughout the city. The Transport Agency says its preferred ... More>>



Shaw First Reading Speech: Climate Change Response Bill

Madam Speaker, today we begin the task of amending the Climate Change Response Act [2002], to fulfil the commitment that we have made, as a country, to limit global warming to no more than 1.5 degrees Celsius above pre-industrial levels. More>>


Housing: More Unsold Kiwibuild Houses Bought By Govt

The Crown underwrite for unsold Kiwibuild homes has been triggered for a second time. Now lack of sales in Mike Greer's development in Canterbury and Auckland means the government has had to buy back seven more homes. More>>





InfoPages News Channels