Payment of deposit subsidy
- Can the deposit subsidy be paid to me directly?
- When will the deposit subsidy be paid?
- Can the deposit subsidy be paid to my solicitor before I find a house to buy?
- What happens if the house sale falls through?
- Does the deposit subsidy have to be repaid?
- What happens if I can’t live in the house for six months?
Can the deposit subsidy be paid to me directly?
No, Housing New Zealand is required to pay the deposit subsidy direct to your solicitor.
When will the deposit subsidy be paid?
The deposit subsidy will be paid to your solicitor on the day the purchase of the property is settled.
Can the deposit subsidy be paid to my solicitor before I find a house to buy?
No. Housing New Zealand requires a copy of a sale and purchase agreement to assess your eligibility.
What happens if the house sale falls through?
Any deposit subsidy payments made to your solicitor will be returned to Housing New Zealand. You will need to make a new application if you find another house.
Does the deposit subsidy have to be repaid?
No, as long as you live in the house you bought using the deposit subsidy for at least six months. If you don’t live in the house for at least six months, the deposit subsidy must be paid back and penalties will apply.
What happens if I can’t live in the house for six months?
You can apply to the Housing New Zealand for an exemption to the condition to live in the house for at least six months. Housing New Zealand will consider each application on a case by case basis.
