7 Jun 2017

United Future announces rent-to-own policy

8:59 pm on 7 June 2017

United Future has a new rent-to-own housing policy that would help people buy homes built under the government's affordable housing scheme in Auckland.

United Future leader Peter Dunne.

United Future leader Peter Dunne. Photo: RNZ / Alexander Robertson

The policy would allow people to use part of their rent as a payment towards a mortgage.

Leader Peter Dunne said this would specifically target people who were struggling to save for a deposit and pay rent at the same time.

"United Future is advocating for opening an additional avenue for home ownership that targets those who are currently locked out of a market that is seeing too few young families able to achieve the security of home ownership.

"Our plan is simple. We would allocate half of the affordable houses being constructed under the government's building programme in Auckland to be included in a new rent-to-own scheme that would provide a new opportunity to people who have difficulty in meeting the financial requirements around buying a house"

He said a generation of New Zealanders faced the prospect of renting for the rest of their lives and the policy would put them on a pathway towards home ownership.

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