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Retirement Villages Repayment Reform | Wellington News
Retirement village residents are getting a major financial lifeline: the government’s new plan slashes repayment timelines to just nine months — down from 12 — and now requires operators to pay 10% of a resident’s net proceeds instead of charging interest on empty units. This shift, part of a broader reform backed by the coalition agreement, responds to heartbreaking stories like a 97-year-old waiting over a year for her money, forcing her to borrow just to survive. The Associate Housing Minister says the 10% fee (roughly $60K for an average villa) and nine-month window strike a fair balance…
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