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Home loans excellent - one more step needed

Monday, 4 July 2005

Hon Matt Robson MP, Progressive Deputy Leader

Welcome Home loans excellent - one more step needed

The Labour Progressive government has taken another important step to meeting the housing needs of low- to middle-income families with the Welcome Home policy announced today.

But Progressive are pushing for one more step to help families into their first homes, said Progressive deputy leader, Matt Robson MP.

Our coalition government has now brought in two significant steps to help low to middle income families into their first home - the Kiwibank In Reach loans and the latest Welcome Home loans.

The Progressive partner will build on these achievements with our policy of enabling families to capitalise their family financial support payout for the first child for a period of six years (or more) where necessary) to finance a deposit.

The Progressive scheme would operate from the 1st of April 2007 when the full "Working for Families" package is implemented, so that families are able to afford the capitalisation scheme.

"Some families would be better off paying a mortgage rather than rent. Other families may be a little worse off but choose their own home to gain financial security and to settle into a community without the threat of having to move on when a landlord sells the house or increases the rent.

"Our Family Support capitalisation scheme will bridge the deposit gap for thousands of low income families," Matt Robson said.

ENDS

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