A Dunedin millionaire is dedicating $25 million of his personal wealth to help people buy homes or make essential improvements.
Roger Fewtrell’s goal is to provide up to 250 first-time buyers with around $100,000 each for deposits on affordable homes he plans to build across the city.
The Otago Daily Times reported that the recipients of Fewtrell’s donation would go through a selection process.
“I’m not doling out food parcels. The aim is to help people who are trying hard to get into their own house,” he said.
He wants to assist those “battling to save for a deposit while the cost of living rises and are capable of servicing a mortgage.”
The amounts given could vary from $50,000 to $150,000 depending on need.
Fewtrell, 75, is also establishing the Dunedin Homes Charitable Trust, inviting people to apply for improvements like new roofs, double glazing, or heat pumps.
NZ Herald
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Roger Fewtrell’s goal is to provide up to 250 first-time buyers with around $100,000 each for deposits on affordable homes
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