Once you get the Government involved in commercial enterprises like banking you just know it won’t be able to resist meddling to favour the enterprise they own.
Following on from the $40 million additional taxpayer funds put into Kiwibank, the Government is now guaranteeing $106 million to mortgage seekers.
However this is not just for anyone. Two big conditions. To get this government guaranteed mortgage you must:
1) Borrow off Kiwibank
2) Generally be a criminal or a beneficiary
Another great triumph for the average kiwi.