Got Maori Land? Got income? Can you get a house? If you've had any experience with the process, your answer is probably no.
But with new changes announced last week to the Kainga Whenua loan and Kainga Whenua infrastructure grants, it may now be possible. The changes mean land received from Treaty settlements is included under the loan and grant criteria, and Maori trusts and other collectives can develop housing on ancestral Maori land.
Kiwibank is supporting the initiative and houses will no longer have to be relocatable if additional security is available on the loan. Funds borrowed via the scheme can be used for a new build or repairs and maintenance.
But I wonder if there are still more people who wish they could borrow against Maori land to buy into urban areas. Especially as we have seen Maori home ownership rates fall 16 per cent on average between 2001 and 2008 alone.
There are 27,000 Maori freehold land titles holding 5 per cent of NZ's land mass. And I can see why with 2.3 million ownership interests in Maori land - about 85 owners per title - it can be complicated for banks to lend on. Especially if it's possible that half of these interests are held by deceased persons, and some don't even know they are shareholders.