If you've never owned a home, and you've been a KiwiSaver member for at least three years, you can take out all the money both you and your employer have put in, as well as all the investment returns, to help buy your first home. In some cases, previous home-owners can also apply.
If you have found your perfect home or still looking…
Call us 0800 855 322 or email us firstname.lastname@example.org and we can tell you how much you are eligible for and how to apply. Or simply download the First Home Withdrawal form complete by clicking here and return to us!
First Home Withdrawal's require:
• A sale and purchase agreement
• A letter from your solicitor who is handling your first home purchase
• Your solicitors bank details for us to transfer your funds to
You will need to send us a completed application at least 10 working days prior to the settlement. If approved, we will pay the funds into your Solicitor’s trust account prior to settlement.
First Home Deposit Subsidy of up to $5,000
Not everyone is eligible for the subsidy, but if you are, you can get $1,000 for each year of contributing to KiwiSaver:
• 3 years of contributing = $3,000 (the minimum you can get)
• 4 years of contributing = $4,000
• 5 years of contributing = $5,000 (the maximum you can get)
You can buy a property with other people who may or may not also qualify for a deposit subsidy.
Basic eligibility rules are:
• It will be your only home and you are planning to live in it.
• You have contributed the minimum % of your income to KiwiSaver for at least three years.
• As a sole buyer you have earned $80,000 or less (before tax) in the last year.
• If two or more buyers combined income is $120,000 or less (before tax) in the last year.
• You have a 10% deposit for the first home purchase (including your KiwiSaver amount).
• The house is within the following price caps:
- $485,000 Auckland
- $425,000 Wellington City and Queenstown Lakes
- $400,000 Christchurch City and Selwyn District
- $350,000 Thames/Coromandel, Hamilton City, Western Bay of Plenty, Tauranga City, Kaptiti Coast, Porirua City, Hutt City, Upper Hutt, Tasman/Nelson and Waimakariri
- $300,000 Rest of New Zealand