You are eligible to apply for a loan if you are Anglican clergy, a widow or widower of Anglican clergy, an employee or other worker of an Anglican organisation, a member of the Christian KiwiSaver Scheme, a member of AFC’s The Retire Fund or a member of the Baptist Union Superannuation Scheme (which AFC administers).

You must have the right to live on the Māori land. For example, you hold a licence to occupy from the landowner.

No. The Māori land must be freehold, and owned and managed by an administration structure under Te Ture Whenua Māori Act 1993 (such as an ahu whenua trust or a Māori incorporation). We cannot provide a loan for a house on land held by multiple individual owners.

You can use the loan towards purchasing, building or relocating a house on Māori land. However, there are some restrictions. The house must:

• be constructed on piles so it is capable of removal;
• be at least fifty (50) square metres;
• have reasonable road access; and
• be located on the mainland of Te Ika-a-Māui or Te Waipounamu.

The loan can also be used for repairs and maintenance for an existing house.

We will lend up to the lower of 90% of either the registered valuation or purchase price (including relocation costs if applicable) of the house. The maximum term of a loan is 25 years. You must meet our standard lending conditions, including affordability requirements.

We will only allow loan repayments and repayments on other debts to be a maximum of 33% of your gross income. If you have a student loan, hire purchase or other loan payments then these will be factored in and will limit the amount we will lend.

Instead of offering a mortgage over the underlying land, we will take security over the house itself and the security interest will be recorded on the Personal Property Securities Register (PPSR).

Before you apply for a loan we will need to talk with the landowner to get their agreement that you can live on the land.

To apply for a loan you will need to provide us with the following:

• a completed application form;
• proof of your income;
• bank statements for the last two months;
• credit card and loan statements for the last two months;
• evidence of your deposit (if not shown in your bank statements);
• a sale and purchase agreement if you have made an offer to purchase the property;
• a valuation of the property; and
• proof of your identity and address.

If your application for lending is accepted by us then a Whenua Māori Housing Agreement will be prepared. This sets out the terms on which we will provide a loan. This Agreement must be signed by AFC (as lender), you (as borrower), and the landowner.

You will also need to sign our loan agreement before we advance any funds.

No, our lending is for a house that you will live in.

There is no application fee. You must cover the legal costs for AFC and yourself. Our legal costs are estimated at $7,000 + GST. This covers preparing, negotiating and finalising a Whenua Māori Housing Agreement, liaising with the landowner, preparing a Term Loan Agreement, liaising with your lawyer, arranging settlement of the loan funds and registering the security on the Personal Property Securities Register.

The interest rates offered are the same as for our mortgage loans. The current rates at angfincare.nz/mortgage-interest-rates

Under the Anti-Money Laundering and Countering the Finance of Terrorism Act 2009 we are required to obtain information about your identity and residential address. We cannot accept funds from you, or pay funds to you, until both your identity and your residential address have been verified.