Kate Chapman at Stuff reports:
Mana Party leader Hone Harawira wants to offer Maori first-time homebuyers no-deposit, low-interest loans but admits he doesn’t know how much the programme would cost.
So do I have this right?
If you have a Maori great great grand parent you can get a no deposit, low-interest loan, but if you don’t you are not eligible?
And of course it is not costed. That would require someone to actually do some work, rather than just open the mouth.
Housing Minister Nick Smith said the Mana policy would cost more than $3 billion a year and put New Zealand “seriously in the red”.
The Mana policy is outlined here:
- Only Maori first home owners would be able to apply
- There would be no deposit
- Interest rates would be no higher than the rates government pays on money it borrows
- Applicants can either build new or buy an existing property
- Applicants will be able to negotiate mortgage arrangements that suit their circumstances