Kiwisaver and HomeStart Grants for First-Time Home Buyers

Using Kiwisaver When Buying Your First Home

If you are hoping to use some of your Kiwisaver towards the deposit of your first home, we suggest your first step should be contacting your Kiwisaver provider to obtain a letter to indicate to you how much you may be eligible to withdraw from your Kiwisaver. Once you have that figure confirmed you will be well placed to start the process. You can then download the application forms from your provider and make a start preparing them whilst finding out what they require. Check the time-frames carefully so that you have all that information ready before you sign an agreement – Kiwisaver can take up to 15 working days from your provider receiving the documents to be released. 

The time frames for Kiwisaver and HomeStart Grants are really important and we can help you through the application process for each.

We recommend that you contact us as soon as you sign an agreement to buy to get this underway and prior to confirming any conditions. 

Accessing the Home Start Grant 

The HomeStart Grant provides eligible first-home buyers with a grant of up to $5,000 for individuals and up to $10,000 where there are two or more eligible buyers to put towards the purchase of an existing home and up to $10,000 for individuals purchasing a new home, purchasing off the plans or the purchase of land to build a new home on. 

Pre-approval can and should be applied for before you sign an agreement, this can speed up the process considerably. A HomeStart Grant application will take up to 20 working days to be approved. A loan agreement is then required to be signed and sent to Housing New Zealand no later than 5 working days before settlement.

First Home buyers and Determination of Previous Home Owner can apply online here.

The Home Start Grant will not be paid out after settlement has occurred so it is important that we get each step completed as quickly as possible prior to settlement.

Kiwi Save First-Home Withdrawal for Previous Homeowners

As a previous home owner you may still be eligible for a Kiwisaver first-home withdrawal. Housing New Zealand needs to determine whether you are eligible, you can apply online here. 

If you are deemed eligible, you will still have to apply through your scheme provider.