Couple win lottery while waiting for loan

A well-timed lottery win means one lucky Morrinsville couple won't have to take out a hefty bank loan to renovate their house after all.

New Zealand Lotteries' chief executive Todd McLeay said the couple had won $50,000 on an Instant Kiwi ticket, the same week the bank was processing their application for a loan of about the same amount.

The lucky man said he and his partner had been applying for a loan to build extensions to the house and shed. "It worked out it was going to be about $45,000 all up - so this covers all of that, and we've got a bit left over for a car and perhaps some treats."

They have said they would cancel their bank loan.

The couple bought a $3 watermelon crossword ticket at Paper Plus Morrinsville.

- NZPA