Saving Kiwis has helped hundreds of clients who have benefited from our expertise over the years to buy their first home. Many of our clients who are members of KiwiSaver are aiming to buy their first home and will benefit from our professional mortgage broker services and so could you.
While KiwiSaver is mainly about saving for your retirement, there are two benefits for KiwiSaver members who are saving for their first home.
Benefits for first-home buyers
The two benefits for KiwiSaver members who are about to buy their first home are under the new KiwiSaver Homestart Grant:
- If you’ve been a KiwiSaver member for at least three years, you may be able to withdraw your savings to put towards buying your first home. You can withdraw all your contributions, including your employer contributions and the matching tax credits, but not the government kickstart (you must leave at least $1000 in your KiwiSaver account).
- You may also be eligible where buying an existing / older home for a one-off payment from the government to help you. Each member can get $1000 for each year they’ve been contributing to KiwiSaver, up to a maximum of $5000. Income and house price caps apply. You can find out more by visiting the Housing New Zealand website at http://www.hnz.co.nz
- You may also be eligible where you are buying a brand new home then a subsidy of up to $10000 for an individual or $20000 for a couple may apply.
If you’ve owned a home before
You may still be eligible for these benefits if you are in the same financial position as a first-home buyer. To find out more visit the Housing New Zealand website or give them a ring on 0800 801 601.
KiwiSaver HomeStart Grant
Visit this link to learn more
http://www.hnzc.co.nz/buying-a-house/KiwiSaver-helping-you-into-home-ownershipAfter 3 years of contributing to
* If you’ve owned a home before, in some circumstances you may still be eligible for the first home deposit subsidy. Housing New Zealand will need to determine that you are in the same financial position as a first home buyer.
To find out more, visit the Housing New Zealand website or call them on 0508 935 266
To apply for your home loan pre-approval click here (linked to Saving Kiwis apply on line)
Disclaimer: This website is operated by Saving Kiwis Financial Solutions Ltd and is not endorsed by, or affiliated with, the New Zealand Government or Inland Revenue. Saving Kiwis Financial Solutions Ltd is using the KiwiSaver trademark and logo under licence from Inland Revenue. To view the office New Zealand government KiwiSaver website please click here www.KiwiSaver.govt.nz