Kiwibank mortgages below predictions
A pilot project aimed at helping low to modest income earners buy their own homes has approved fewer applications than expected.
Thursday, July 22nd 2004, 8:22AM
by The Landlord
400 people have bought houses under the Kiwibank In Reach home loan scheme and the bank has approved a further 200 loans.
Kiwibank has lent $43 million in the first 10 months of its 24-month trial.
When the government announced the project it expected about 1,800 loans worth $200 million would be approved during the two years.
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