Buying a home with KiwiSaver

    How you can use your KiwiSaver savings to help you buy your first home.

    First home buyers and KiwiSaver

    If you are looking to use your KiwiSaver investment as a deposit towards your first home, first off, congratulations, buying your first home is a huge milestone that we are excited to help you achieve.

    After being a member of KiwiSaver for three years you can apply to withdraw all or part of your 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.

    Are you eligible?

    You are eligible for a first home withdrawal if you:

    • have been a KiwiSaver member for at least three years;

    • have not made a withdrawal from your KiwiSaver account for the purchase of a home before;

    • intend to live in the property; and

    • are buying your first home (or have confirmation from Kāinga Ora that you are eligible to apply for a second home purchase).

    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 Kāinga Ora to be considered for a withdrawal as a 'previous home owner' home buyer. Visit Kāinga Ora's website for more information.

    How do you apply?

    1. Once you have found a home you want to buy, let your solicitor know you want to use funds from your KiwiSaver account to help with the purchase.

    2. Most banks or mortgage brokers require a First Home Buyer's Letter, which you can generate in Fisher Funds Online

    3. Take our withdrawal form to your solicitor to complete then return it to us with:

      • a copy of your certified ID;

      • your Sale and Purchase agreement;

      • your Solicitor's letter; and

      • a deposit slip for your Solicitor's trust account.

    All documentation needs to be with us at least 15 working days before your settlement date.

    How will the payment be made?

    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.

    How do I get my first home buyer's letter?

    It's really easy to get a copy of your first home buyer's letter (this shows how much you can potentially withdraw from your KiwiSaver account for a first home purchase and is usually what most banks and mortgage brokers require). You are welcome to generate these as often as you need to via your Fisher Funds Online account. To download your letter online:

    1. Head to fisherfunds.co.nz and click on the Login button on the top right corner of the page.

    2. If you've already registered, enter your username and password to log in.

      If you haven't registered for online access, you'll need to do so first via the Register an account option to create your username and password.

    3. On a desktop computer or laptop, click on Investment tools in the menu and select First Home Buyer's Letter.

      On your mobile device, click on the white account card displaying your name and KiwiSaver balance. In the next screen, you'll see 3 dots in the top right corner - once you click on the dots, you'll see a dropdown menu with an option to create your First Home Buyer's Letter.

    4. Once you have answered the eligibility questions, you'll be all set to download a copy of your letter.


    First Home Calculators

    Open the Fisher Funds KiwiSaver Scheme First Home Calculator ›

    Open the Fisher Funds TWO KiwiSaver Scheme First Home Calculator ›


    First Home Grant

    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 Kāinga Ora’s First Home Grant of up to:

    • $5,000 if you're buying an existing home ($1,000 per year of contributions); or

    • $10,000 if you're buying or building a new home ($2,000 per year of contributions).

    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 Kāinga Ora directly for more information:

    Got questions?
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