First Home Withdrawls
Withdrawing your KiwiSaver when you purchase your first home
After you have been a member of KiwiSaver for three years, you may be able to withdraw your KiwiSaver balance (less $1,000 and any Australian Superannuation transfers), ($1,000 must remain in your account), towards the purchase of your first home. These funds are paid to your lawyer towards the house purchase price, and can be to purchase and existing house, or land to build a house on that you are going to live in.
You may be able to use a Welcome Home Loan to assist you with purchasing your home.
For more information, make sure you are familiar with the rules, which are outlined at Housing New Zealand.
Moneyworks NZ Ltd
P: 0800 225 621
E: contact@moneyworks.co.nz
P O Box 1003, Cambridge 3450
Licensed Financial Advice Provider - FSP 15281
Regulatory Information: Moneyworks is a Licensed Financial Advice Provider (FSP15281), and AML Reporting Entity and is supervised by the Financial Markets Authority.