We know saving enough for a deposit is one of the biggest barriers to buying a first home. That’s why we’re proud to have helped Kāinga Ora to launch First Home Partner, a shared equity scheme designed to bring home ownership within reach for more New Zealanders. First home buyers with a 5% deposit can apply to Kāinga Ora for an equity contribution on a new home (up to 25% or $200,000, whichever is lower), which they’ll be supported to progressively buy back over time. The scheme is available now to Westpac customers.

We also continue to support Housing Foundation shared equity schemes and have worked with iwi partners to help dozens of whānau into new homes. Another 200 customers are in brand new homes thanks to Westpac Prebuilt – our dedicated lending product for prefabricated housing, which can be faster and more affordable than traditional on-site builds.