15 Oct 2012

Scheme now easier to develop land for houses

6:53 am on 15 October 2012

Ngati Whatua Orakei Trust Board in Auckland says changes which the Government has made to the Kainga Whenua Loans Scheme, are timely and pragmatic.

The scheme which enables houses to be built on Maori land in mutiple ownership, has been broadened to include all borrowers who can service a mortgage, rather than only first home buyers. The income cap on borrowers has also been substantially increased.

Board trustee Sharon Hawke said they found the original scheme too restrictive, and had lobbied the Government for changes which would open the doors to home ownership for Maori.

She said the new scheme will make it much easier for the board to increase the rate of housing development for its people and help them fulfil their dream of owning a home on their own land.

Ms Hawke said along with other iwi, Ngati Whatua Orakei has a need to house whanau and land to provide housing.

She says the missing link has been the ability for people to raise their own finance.