The scheme is being delivered and managed by Kāinga Ora – Homes and Communities on behalf of the Crown.

The scheme is to help owners living in their own unit or apartment and who are facing financial hardship, to get support to strengthen their building.

Without financial assistance some owner-occupiers may be forced to sell their home/unit because they can not afford their contribution to strengthening their building.

How it works

A low interest deferred repayment loan of up to $250,000 will be available to eligible applicants to apply for.

To make sure the scheme is targeted to those who need the most support, there is a range of eligibility criteria to be met.

Funding of $10 million has been made available for this financial assistance scheme, loans will subject to availability of that funding.


  • Loans are only for seismic retrofit to achieve seismic performance up to 100% NBS - i.e. no more than 100% NBS;
  • The maximum loan secured against any one unit will not exceed $250,000 (but with limited discretion for the Chief Executive of Kāinga Ora to approve amounts above this level on a case-by-case basis);
  • Loans will become repayable on the unit’s sale, 12 months after the last owner’s death, if the owner is no longer an owner-occupier or if the borrower defaults. Borrower default refers to a situation where there is another mortgage on the property and the borrower defaults on that loan and/or they become personally insolvent or obtain a loan by deception;
  • The loan provides for voluntary loan repayments (with no early repayment fees);
  • Loans will be secured by a mortgage, charge, or another security against the unit’s record of title (or equivalent);
  • Applications to the Scheme will close on 30 June 2027, or when all available funding has been fully allocated.

Interest rate settings for the Scheme

  • The below market interest rate for the Scheme will be set at 50% of the Reserve Bank’s monthly average of five year fixed interest rates;
  • The interest rates will be fixed for five years with rate reviews at loan anniversary and interest rates will be calculated daily and compound annually.

Kāinga Ora discretion

Kāinga Ora’s Chief Executive has limited discretion to consider loan applications where owner-eligibility financial hardship or the cut-off date criteria are not met.  

The first step is to check the eligibility criteria

Expression of Interest form

If you meet the eligibility criteria, or have a query you can fill in the Expression of Interest (EOI) form below.

This is not a formal application, but if you have any questions and would like some advice before submitting an application, the EOI provides us with more information so we can better understand your situation and respond to questions you may have.

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Page updated: 25 November 2022