BNZ’s ambition to turn the home ownership dream into a reality for as many New Zealanders as possible has inspired its approach to KiwiBuild.
“We’re getting in behind our Kiwibuild customers by making it simpler and easier for them,” says BNZ’s Consumer and Wealth Chief Customer Officer Paul Carter. “Simpler, with conditional pre-approved loans that can last for up to 12 months. Easier, with smaller deposits,” says Mr Carter.
Qualifying KiwiBuild customers about to buy their first home must already have finance sorted with their bank. BNZ’s KiwiBuild customers can rely on that arrangement for 12 months, rather than the typical 60-to-90 days.
“It means our KiwiBuild buyers can take their time,” says Mr Carter. “We’re absolutely focused on our customers’ best interests and always check to make sure our loans are still affordable before final settlement,” says Mr Carter.
“As BNZ backs the government’s KiwiBuild programme we’re actively looking for new ways to help more of our customers into their first homes. Building on the $1.07b we have already made available to first home buyers in 2018. Our extended conditional loan approval term and loans on five per cent deposit make us a great option for those looking for a KiwiBuild home loan,” says Mr Carter.
KiwiBuild is turning the home ownership dream into a reality for many New Zealanders and there’s lots to talk about. BNZ is encouraging anyone considering a KiwiBuild home to get in touch with the bank on 0800 275 269 or head in and see them at one of their branches. They’ll walk through what’s required and talk through the terms and conditions.
The 12-month conditional approval period and lending up to 95% LVR terms are also available to home buyers of new build homes off the plan outside of the KiwiBuild scheme, as long as they meet BNZ’s usual lending requirements.
* All home loans are subject to our lending criteria (including minimum equity requirements), terms and fees.