With the support of Trust Horizon and YouOwn Shared Ownership you can make owning a home a reality with as little as a 5% deposit
Since teaming up with BayTrust in September 2020, YouOwn has been a game-changer for families in the Bay of Plenty, helping thirty-two households into home ownership by June 2024.
The programme is designed to solve the deposit gap (particularly for first-home buyers) by taking a small ownership stake in the property at a cost lower than the interest rate on a home loan. The property purchased can be an existing house or new build home.
After five years, homeowners can use their equity to buy out YouOwn’s share, meaning they own their property outright. As money is paid back to YouOwn, it is recycled into the program to assist more -home buyers.
Thanks to an additional $1.5 million investment from TECT and Trust Horizon, even more families in the Bay of Plenty have the opportunity to own their home, making this initiative a resounding success in the region.