land rent scheme

Hi there,
I have just read ACT's new Land rental scheme and want some advice on it, as in will the banks still lend money for the house etc or does it pose problems.
Seems a great way to get into the market and save a little bit. The best way of describing it is.. instead of buying land you rent it from the Government for 4%, you still pay all the duties and taxes and if at any point you want to buy it you can at the going rate. if you want to sell your house the buyer gets to choose whether they rent it or buy the land also. My partner thinks its silly but i think if the banks are ok with it it has its merits.

experts…. put your thoughts here.