Co-Ownership Housing Update: 3 Families Now First Home Owners

Three families have now moved into their Co-Own homes

Last week saw the third family move into their new 4-bedroom home at Kirkbride Rd, Mangere Bridge.  Congratulations to the new home owners!

This is a result of the Co-Ownership Housing initiative we launched last year in association with Co-Ownership Housing Ltd.  Since then several more first home buyer families have been able to buy their own home using Co-Own as their stepping stone

Alfred and Fleur moving into their first home

More Co-Own homes to come

Following on from the success of this trial, Co-Own has managed to secure one more opportunity at Kirkbride for a four-bedroom house and a three-bedroom terrace townhouse. More details below.

About Co-Ownership

Co-Own is a shared equity solution to help first home buyers own their own home.

In basic terms it is a way of lowering the deposit required for a home to 5% of a property’s value.  Your deposit is topped up by an investment by Co-Own to enable you to purchase the property.

Key Information:

• You purchase a 75% share of the property, Co-Own invests the other 25% of the purchase price.
• You get all the benefits of ownership without having to fund the entire purchase price.
• Your house is on its own title.
• There is a charge for the Co-Own share, this is payable monthly and does not change for five years
• After 5 years you are able to refinance and buy more of the house

Criteria for Co-Ownership:

• Combined household income of $110,000+
• Deposit from savings and/or KiwiSaver of at least 5% of the purchase price.
• Be a New Zealand Citizen or Permanent Resident.
• Have a clean credit history.
• Little or no debt (less than $5,000)
• Comfortable with repayments on a mortgage of $500,000 or greater (we can help you determine if you are able to should you decide to proceed with the opportunity).
• Be buying the property to live in.

More information on Co-Ownership

4-bed | 188m² | 2 Bathroom | Ensuite | Garage

35 Tapuwae Way, Mangere Bridge

Brand new 4 bedroom stand alone home in a sought after Auckland location. The home boasts modern finishes, 2 bathrooms, a master with an ensuite and a single garage.

• First Home Buyer’s Savings / KiwiSaver: $44,250
• First Home Buyer’s Mortgage: $619,500
• Weekly cost for Co-Own investment: $191

View Floor Plans

3-bed | 153m² | Bathroom and Ensuite | Garage

38 Tapuwae Way, Mangere Bridge

Brand new 3 bedroom terraced townhouse, single garage, bathroom and ensuite. This property will come with high-end specifications including a granite bench top, carpets, blinds and a heat pump.

Sale Price – $760,000

• First Home Buyer’s Savings / KiwiSaver: $38,000
• First Home Buyer’s Mortgage: $532,000
• Weekly cost for Co-Own investment: $165

Apply For Co-Ownership:

To register your interest in either of these homes, please complete the below application.