When purchasing your first home, you can apply to withdrawal funds from your KiwiSaver to contribute towards your deposit or settlement. Keeping in mind, your KiwiSaver provider will require you to keep $1,000 in your KiwiSaver account.
You (and your co-borrower) can apply for the KiwiSaver first home buyer withdrawal directly through your KiwiSaver provider. Make sure to check with your KiwiSaver provider on how long the withdrawal process with them will take as this may impact whether you have funds ready for your deposit or settlement.
Please note, to be eligible for withdrawing your KiwiSaver balance, you must meet the below criteria:
You have been contributing towards KiwiSaver for at least 3 years
You are a first home buyer
This is the first time you are making a KiwiSaver first home buyer
The property you are purchasing is in New Zealand
You intend to live in the property you are purchasing. You cannot use your KiwiSaver funds towards a rental or investment property.
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