30 year term
This is how long your mortgage is for. Any principal that you repay, you will get back upon sale.
You choose the property
Levridge works to find a property investor who is happy to buy your home with you.
You can use your Kiwisaver
Or any cash savings to reduce your mortgage and lower your repayments.
Pay more off your principal and profit
The more you pay off your mortgage, the more you’ll have when you sell. Or it can help you buy out your property investor.
The property is in your name
And the mortgage too. The Co-Ownership Agreement between you and your property investor will protect both of you.
Full support from Levridge
Buying your first home can be a scary business. But we’re here to hold your hand when you need it. And high five you on settlement day.
Minimum 5 year partnership
After that, you can sell the property, buy out your property investor or continue the partnership indefinitely.
The full Process
1. Getting a PROPERTY Investor
- Apply online. Tell us a bit about yourself and what type of property you’d like to buy.
- We match you with a property investor who’s interested in the same type of property.
- We help you apply for a mortgage pre-approval so you know exactly how much you can spend on a home.
- We send your profile to the potential investor (you get to approve this profile before it’s sent).
- The investor can choose whether to meet you before they invest (it’s a good idea to meet them if they want to).
- Great! You have a match.
- You sign an “intent to proceed” and pay a $500 deposit, which Levridge holds till you buy your home. Your investor does this too.
- Now you’re ready to start hitting those open homes.
2. Buying the home
- You’ve found ‘the one’.
- You share the home you want with us at Levridge.
- We check the property meets the property investor’s expectations.
- We set you up with a Sale and Purchase Agreement. This is conditional upon finance, due diligence, Solicitors approval, LIM, building and weather tightness report and registered valuation. The costs will be shared 50/50 with your property investor.
- You and the property investor are both happy with the paperwork.
- You enter into a Co-Ownership Agreement with your property investor.
- The property investor will then pay the deposit (10% of the property’s value).
- You agree on a settlement date (usually four weeks later).
- At settlement, your property investor pays the rest of the deposit (they’ve now paid a total of 20% of the property value).
- The property is now in your name and you have a mortgage with your bank.
- You move into your home sweet home
Still Want to know more?
A simplified version of this process is available over on our buyer overview page.
Buyer FAQs & risks
Got questions? We've got answers. Find the answers to frequently asked questions here.
Buyer Case study
Follow Kate and Jonah through their journey of purchasing their first home with Levridge
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