Since 1 September 2024, Te Maru Mihinare – Anglican Financial Care (AFC) has begun offering lending for housing on freehold iwi Māori title land.  

General Synod - Te Hīnota Whānui member for Te Hui Amorangi o Te Waipounamu, Archdeacon Hannah Pomare is pleased to welcome the new lending, which she has advocated for over the last two years through both Te Hīnota Whānui, and with the backing of Kāhui Wāhine, directly with Anglican Financial Care.

"I am very happy that AFC took my complaint seriously and have produced changes very quickly to enable Māori to access funding to build on Māori owned land."

"It's a great start ... so heads up to AFC for their prompt response." 

Currently only one other provider, (Kiwibank in partnership with Kāinga Ora) offers nationwide loans for building, purchasing or renovating homes on Māori land. The benefit of the AFC loans is that as lenders they will favour Māori clergy and laity in AFC schemes. And while Kiwibank earnings and fees stay with the bank, the interest paid on AFC loans help grow funds across AFC’s schemes which include a Fund to support Anglican clergy in need and the Christian KiwiSaver Scheme. 

AFC's new lending criteria are open to Māori Anglican clergy, surviving spouses of Anglican clergy, employees and other workers of Anglican organisations, members of the Christian KiwiSaver Scheme and members of the AFC 'Retire Fund'.  

“We are very excited to be able to contribute in a meaningful way to alleviating housing needs for those who can live on their ancestral lands," said Rev Lawrence Kimberley, Chair of the AFC Board as the new lending option launched.

Anglican Financial Care CEO Margaret Bearsley reported that AFC mortgage manager Bruce Dutton and the team at Wellington-based Māori legal firm Kāhui Legal have done significant work to get the new loan offer across the line.

She explained that to be eligible, borrowers need to show they have the right to live on the whenua, for example, with a 'license to occupy' from the iwi landowner, which 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).  

AFC will lend up to 90% of the purchase price (including relocation costs if applicable) with a maximum loan term of 25 years.  

“As a responsible lender, we must ensure our clients meet our lending conditions and affordability requirements," said Margaret. "But we are sympathetic and we strike a good balance between protecting our lending assets for all our beneficiaries and meeting our clients’ needs.” 

Bruce Dutton explained that instead of offering a mortgage over the land, AFC takes security over the house and that security interest is recorded on the Personal Property Securities Register, so that none of the land can be lost in case of default. However, the evidence from the Kiwibank and Kāinga Ora scheme shows that's an unlikely scenario. 

"I made an Official Information Request to Kāinga Ora and was told that since its establishment in 2010, no Kāinga Whenua loans had defaulted," said Bruce Dutton from AFC.

For more information and eligibility details on the new loans, Māori Anglican clergy, clergy widows/widowers, church workers and Māori members of AFC’s other schemes can email admin@angfincare.nz.  More detailed information is also available on AFC’s website angfincare.nz.