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Leaky homes have been a prevalent issue in the New Zealand housing market, often faced by prospective homeowners and investors. However, obtaining a home loan for such properties can be a daunting task.
Banks and non-banks are all similar in their reluctance to fund a leaky home and this tends to drive the demand, and therefore price, down. But, as always, one man's trash is another man's treasure.
Leaky houses refer to properties plagued by water2004. If you're buying a property that was built in this time, you can be sure the bank is likely to ask more questions.
