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First Home Ownership Programs

Buying your first home using KiwiSaver

KiwiSaver can provide you with valuable help to buy your first home.

You can apply to withdraw all or part of your KiwiSaver savings (however you must leave a minimum balance of $1,000 in your KiwiSaver account) and use it towards the purchase price on your first home - this is known as the first home buyer withdrawal.

You may also qualify for a Housing NZ KiwiSaver HomeStart grant of up to $10,000. Imagine owning your own home, and having your employer and the Government helping you to pay for it!

If you have previously owned a home and want a second chance, this facility could also be available to you - conditions apply (see below for details).

Our 'First Home Buyers guide'  is a great resource to help you understand the ins and outs of using your KiwiSaver account to buy your first home.

First Home Buyer Withdrawal

Who can apply for this?

You can make a first home withdrawal if you:

  • are 18 years or over;
  • have been a KiwiSaver member for at least three years (please note that any time that you were a member of a complying scheme prior to joining KiwiSaver does not count towards the three or more years required to qualify);
  • have not made a withdrawal from a KiwiSaver scheme for the purchase of a home before;
  • are purchasing a property that is, or is intended to be, your principal place of residence; and
  • are buying your first home (or have confirmation from Housing New Zealand that you are in the same position as a first home buyer in terms of income, assets and liabilities).

If you have owned a property before and your financial position is the same as a first home buyer, you can apply to Housing New Zealand to be considered for a withdrawal as a "second chance" home buyer.

Download and complete this form to apply for a first home buyer withdrawal.

What can I withdraw?

Source of funds Can you withdraw?
Your contributions
Your employer contributions
Government's member tax credits*
Investment returns

*Only member tax credits that have already be paid into your KiwiSaver account can be withdrawn.

You can’t withdraw any Australian superannuation savings and a minimum balance of $1,000 must be left in your KiwiSaver account after the withdrawal.

How do I get the funds?

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 any questions regarding this feature, please contact us.

KiwiSaver HomeStart 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 Housing NZ KiwiSaver HomeStart 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.

How do I apply for this?

Housing New Zealand administers this grant, please contact them directly for more information:

More questions? Read our FAQ’s »

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