1 August 2003

Jim Anderton MP, Progressive Leader

Home loans a progressive step

A pilot scheme to provide deposits for people to buy their own homes through a Kiwibank mortgage guaranteed by a Government scheme is an important step in restablishing home ownership for people on modest incomes, says Jim Anderton.

“Features like not needing a deposit if the house is valued under $100,000 and a 5 per cent deposit for homes over $100,000 is an excellent option for people unable to afford the deposit on a house.

“Kiwibank has given the people of New Zealand significantly more banking options including lower fees through competition, lower interest rates, more branches and the choice to invest in a bank where the profits stay in New Zealand,” said Jim Anderton.

ENDS