Government Home Loan scheme

[Singel]

House prices soaring
http://www.nzherald.co.nz/section/st...ectID=10397124

Not sure whether this new scheme will help or make thing worse

[lattner]

Thanks for the infor jess.

Hi Singel, regarding the soaring house prices, I have read in a book that the house prices in Auckland are overvalued and the prices does not reflect the real worth of the property and is predicted that the property market will go bust. However his prediction is well over 2 years late and the housing market in Auckland is leveling. But as he says it goes in a constant cycle from boom to bust.

[katandbob]

Yes, I read that too, but thinking about it, I'm presuming that the 'life of the loan' will mean the period of time it takes to repay the loan, so that would therefor include the selling of the property and repaying any outstanding monies still owed on the property.

In other words, you can't use the scheme in a proposed 'buy to let' situation.

But, I'll stand corrected...........

Julie

xx

No your correct, you can only use this to buy a house to live in yourself and also you can not have any savings....and also the banks may charge a small set up fee...as usual!

kat