After being a member of KiwiSaver for three years you can apply to withdraw all or part of KiwiSaver savings (however you must leave a minimum balance of $1,000 plus any amount transferred from an Australian superannuation fund in your KiwiSaver account) and use it towards the purchase price of your first home.
You are eligible for a first home withdrawal if you:
If you have owned a property or land before and your financial position is considered the same as a first home buyer you may be able to apply to Housing New Zealand to be considered for a withdrawal as a 'second chance' home buyer. Visit Housing New Zealand's website for more information.
All documentation needs to be with us at least 10 working days before your settlement date.
The funds will be transferred to your solicitor's trust account prior to settlement and will be paid to the vendor as part of the purchase price for an unconditional sale, or as the deposit (or part of it) if that is a condition of your sale and purchase agreement. If the agreement is not completed then your solicitor will pass the funds back to Fisher Funds to be reinvested in your KiwiSaver account.
If you have been contributing to your KiwiSaver account (or a complying superannuation fund) for at least three years, you might also be eligible for a Housing NZ KiwiSaver HomeStart grant of up to:
Eligibility criteria apply; including minimum contribution requirements, limits on your income and the value of the house you want to buy or build.
Please contact Housing NZ directly for more information:
Disclaimer: Fisher Funds Management Limited ("Fisher Funds") is the issuer of the financial products referred to on this website. A PDS for each of the financial products is available here and also on the relevant scheme's offer register entry at companiesoffice.govt.nz/disclose. The information, calculations and any opinions on this website are based upon sources believed reliable, but Fisher Funds, its officers and directors make no representations as to their accuracy or completeness. All opinions reflect our judgment on the date of communication and are subject to change without notice. Professional investment advice should be taken before making an investment. Past performance is not a reliable guide to future performance. A disclosure statement is available from your financial adviser, on request and free of charge.
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