Buying your first home with KiwiSaver

KiwiSaver First Home Withdrawal

If you've never owned a home, and you've been a KiwiSaver member for at least three years, you will be able to use some or all of your KiwiSaver savings to put towards the purchase of your first home. You will need to leave a minimum balance of $1,000 in your KiwiSaver account and you cannot withdraw any amount transferred from an Australian complying superannuation fund. In some cases, previous home-owners can also apply.

How do you apply for a first home purchase withdrawal?

If you would like to make a withdrawal, please complete the First Home Purchase Withdrawal Form.

Eligibility criteria for first home withdrawal:

  • You must have been in KiwiSaver (or a complying superannuation fund) for at least three years.
  • You cannot have made a withdrawal from KiwiSaver to buy a home or land before.
  • You must intend to live in the home or in the house you will build on the land you have purchased.
  • You must be a first-time buyer or have a determination from Kainga Ora to be in the same financial position as a first-time home buyer. For more information please click here.

Your withdrawal checklist:

1. Check that you are eligible to make a first home withdrawal.

2. Complete the First Home Purchase Withdrawal Form.

3. If you are applying for a ‘second chance’ withdrawal please attach Confirmation of Eligibility Letter from Kainga Ora.

4. Enclose certified copy of your ID and a copy of current proof of address.

5. Enclose a copy of the Sale and Purchase Agreement.

6. Sign and date the Statutory Declaration part in front of an Approved Person. (https://www.govt.nz/browse/law-crime-and-justice/making-a-statutory-declaration/)

7. Have your solicitor complete the Solicitor’s Certification Letter.

8. Return the form and documents listed above to us via email at info@generatekiwisaver.co.nz. Please note, we do not require the originals.

Please submit your application including the information listed above at least 10 working days before the settlement date or the day you require the funds. We are unable to make payments after your settlement date.

If you were living overseas for a period during your KiwiSaver, you may have received Government Contributions that you were not eligible for. If this is the case, these government contributions may need to be repaid to the IRD and can reduce the amount you can withdraw.

How can you obtain a first home eligibility letter?

You can obtain a first home eligibility letter by logging into your Generate member portal online here*.

Once you have logged in, please select ' My Details', on the left-hand side of your screen, there you should see a button that says 'First Home Withdrawal'. 

*If you have forgotten your password or have never logged in before, please click at “Forgotten your password” and we will email login instructions to you.

How do you apply for a second chance home withdrawal?

If you are a previous homeowner and have not withdrawn KiwiSaver first home previously, you may be eligible for a second-chance home withdrawal subject to the approval of Kainga Ora.

You must also meet the same criteria for first home withdrawal as listed on the previous section ‘How do you apply for a first home purchase withdrawal?’ and must have received an approval from Kainga Ora to make a second-chance home withdrawal.

To apply for a second-chance home withdrawal approval from Kainga Ora, please visit:https://kaingaora.govt.nz/home-ownership/kiwisaver-first-home-withdrawal/

You will need to provide the approval letter from Kainga Ora when you apply for a second-chance home withdrawal with us.

We also recommend that you consult with your solicitor or your conveyancing practitioner regarding your eligibility.

How do you apply for a First Home Grant?

If you are a first-time home buyer, or a previous homeowner and you have been making regular KiwiSaver contributions for 3 – 5 years, you may be eligible for a First Home Grant of up to $10,000.

You will have to apply for the grant through Kainga Ora. For more information regarding how to apply, please visit: https://kaingaora.govt.nz/home-ownership/first-home-grant/

How do you apply to build on Maori land?

Please see below the required documents for the first home purchase withdrawal if you are building your home on Maori land:

  • A completed first home purchase withdrawal application form.
  • Documentation confirming that the land you own is a Maori land and that this has the same meaning as in the Te Ture Whenua Maori Act 1993.
  • Legal evidence of the right to occupy that Maori land.
  • Legal agreement for the building of dwelling house, listing you (and your partner, if applicable) as the purchaser.

For more information, please click here.

You must also meet the same criteria for first home withdrawal as listed on the previous section ‘How do you apply for a first home purchase withdrawal?’.

Can you use your KiwiSaver towards the purchase of a Tiny house?

Generally, you will not be eligible to make a first home purchase withdrawal from your KiwiSaver to purchase a tiny home. However, you may withdraw from your KiwiSaver to purchase the land in which you plan to install your tiny home.

Another circumstance where you may be eligible to withdraw your KiwiSaver to purchase a tiny home is if you were gifted a Maori land and you plan to put the fixed tiny home on that land.

The tiny home must be grounded to the land (i.e., no wheels). The tiny home building contract will be requested as part of the first or second-chance home withdrawal application. 

We also recommend that you consult with your solicitor or your conveyancing practitioner regarding your eligibility.

You must also meet the same criteria for first home withdrawal as listed on the previous section ‘How do you apply for a first home purchase withdrawal?’.

Questions?

If you have any questions, please contact us and we would be happy to help.

You can call us on 0800 855 322 or email us at info@generatekiwisaver.co.nz.