Could KiwiBuild home loans be at risk?
Hamish Patel, of Mortgages Online, fears borrowers who have received pre-approvals for KiwiBuild homes could be at risk.
He has spoken to would-be KiwiBuild homeowners who are unaware their pre-approvals could technically run out, or be taken away.
People are signing up for developments that are a year to two years away from completion, leaving them in a high-risk situation.
"Even relying on a one year approval is risky," Patel says. "If you lost your job in eight months, six out of ten times, a bank could pull the plug, and your KiwiSaver is on the line."
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
![[The Wrap] What the heck is happening at the FMA?](https://goodreturns.publit.io/file/c_fill,w_300,h_200/a6c3bc06-6401-44de-96e2-286c090e132d.jpg)
