Increase access to the 5% deposit home load scheme

National says it will broaden access to the First Home Loan Scheme, which gives first-time homeowners access to loans with a 5% deposit, rather than the usual 20%.

The scheme is currently accessible only to singles earning $95,000 or less and couples earning $150,000. National says it will raise the cap to $300,000 for everyone.

“National is sending a clear signal to ambitious young Kiwis that we back them to stay in New Zealand and get into a home of their own,” the party’s housing spokesman, Chris Bishop, said.