What fees apply to the Shared Equity loan?
Housing New Zealand will not charge you any application fees for the Shared Equity loan. You are, however, responsible for all other costs. This includes any Kiwibank fees, legal fees, builders' reports, market valuations, real estate fees, and moving costs.
Administration fees
There are no monthly or annual administration fees payable on a Shared Equity loan, applications for top-ups or improvements, and for making any repayment on your loan.
Default fees
In the event you fail to meet your loan conditions (default on your loan agreement), Housing New Zealand may:
- charge a nominal default administration fee. These will vary
- pass on any incurred expenses (for example, if Housing New Zealand has had to pay insurance premiums, valuation, or rates on your behalf) to enable Housing New Zealand to recover any costs involved
- charge interest on default fees, incurred expenses, and any debt which is unpaid at end of the term, or after the sale of the property.
