Shared ownership programmes

We’ve teamed up with organisations that partner with first home buyers who are finding it hard to save a deposit for a home that meets their needs.

Buying your first home with a low deposit

You could buy your first home with as little as 5% deposit, by partnering with a shared ownership provider, to buy a house together. Initially, the shared ownership provider would own part of your home. This means you need a smaller deposit upfront.

How your home ownership is made up

With shared ownership, a third party provider contributes money towards the purchase of your home. How much they contribute can vary by provider, but you’ll always be the majority homeowner and occupier.

Let’s say that you own 90% of your home and a provider owns the other 10%. 

Your deposit

Your deposit is how much you’ve saved up to put towards your home. That might be 10% of the total purchase price.

Your home loan

You borrow 80% from a bank and pay off your mortgage over a number of years.

Provider’s share

The provider’s share is 10%, which you would eventually buy back yourself. 

Becoming a full owner

You’ll buy back shares from the provider (there’s usually a time limit on this) until they no longer have a stake in your home. Shared ownership providers will usually allow you to do this either in a single lump-sum payment, or in smaller increments over time. You can use savings or apply for a home loan top-up for this.

You may need to get permission to do renovations or if you want to sell your home while your provider still owns a share in it. When selling, any proceeds will usually be divided according to your ownership shares.

How it works

If you’ve researched the options and decided shared ownership is right for you, here are the next steps.

1. Check your eligibility

Find out which shared ownership programmes you might qualify for. Income caps typically differ by provider.

2. Apply directly to a shared ownership programme

Submit an application to your chosen provider.

3. Apply for a home loan

Once approved by a programme, contact us about getting conditional approval for a BNZ home loan under a shared ownership scheme.

Our shared ownership partners

BNZ’s role is as a lender only. Make your own enquiries and seek independent legal advice about any arrangement with a shared ownership organisation that you might chose to partner with.

Kāinga Ora – Homes and Communities

Kāinga Ora is a government agency focused on delivering public housing and affordable home ownership options.

kaingaora.govt.nz

Housing Foundation

Housing Foundation is a not-for-profit, charitable trust that helps lower-income households into homeownership.

nzhf.org

Ngāi Tahu

 Ngāi Tahu offers support to whānau on their home ownership journey.

ngaitahu.iwi.nz

Explore other options

Shared ownership

We’ve teamed up with organisations that provide shared ownership programmes to help first home buyers with a low deposit.

More about shared ownership

New builds

If you’re buying a new build, or buying a property off plans (still under construction), deposit requirements can be flexible.

More about buying a new build

Help from parents

Your parents might be able to help by gifting or loaning money towards a deposit, or acting as guarantors or co-borrowers.

More about getting parental help

Get in touch

Talk to a Mobile Mortgage Manager

Mobile Mortgage Managers cover both city and rural areas across New Zealand. We’re available seven days a week, and can come to you, where and when it suits.

Find a mortgage manager

Get a call back from a home loan expert

One of our loan experts can give you a call to talk you through your options. Contact us online, or through Internet Banking or the BNZ app.

Arrange a call back

Home loans help and support

If you need some help call 0800 275 269.