Shared Ownership could help you into your first home

We’ve teamed up with YouOwn to help New Zealanders get on the property ladder with Shared Ownership.

How Shared Ownership works

With Shared Ownership^ you buy as much of a house as you can afford. The ownership of the house is split between you and a third party, YouOwn. Initially, Shared Ownership will be limited to certain new-build houses in Auckland.

Check out our video to find out more about Shared Ownership and how it works.

What’s different about Shared Ownership

Here are a few key differences between Shared Ownership and owning a home outright.

shared ownership

Shared Ownership

  • Applies to new-build homes in certain locations in Auckland.
  • Generally, you have 75-95% home ownership share, and YouOwn has the rest.
  • As well as loan repayments, you pay a separate monthly charge to YouOwn for their investment^.
  • Capital gains or losses are shared relative to ownership^.
  • You’ll need agreement from YouOwn to sell your house, and YouOwn may charge you a fee^.
owning outright

Owning a home outright

  • You can buy any property type in any location.
  • You have 100% home ownership share.
  • You’ll make loan repayments.
  • You receive all capital gains or losses.
  • The sale of your house is up to you.

Steps to Shared Ownership

1. What you’ll need

You’ll need to have at least a 5% deposit, minimal debt, and a household income of more than $120,000.

2. Explore your options

Find out more about Shared Ownership at the YouOwn website and see if it might be right for you, or if owning a home outright could also be a possibility.

3. Find a house

Work with YouOwn to find a suitable new-build home in specific locations throughout Auckland.

4. Get financing with BNZ

Your 5% deposit and an investment from YouOwn will make up a portion of the home’s value. For the remainder you’ll need a BNZ home loan.

5. Sign an agreement

You’ll need to sign a Co-Ownership Agreement with YouOwn to confirm your obligations and rights as a co-owner^

6. Increase your ownership

Move in, and after five years you can buy out all or part of YouOwn’s share.

Talk to us about your options