Kiwisaver first home deposit subsidy
Central Conveyancing can assist you with your application for a first home deposit subsidy.
If you're eligible and the property you're buying meets the deposit subsidy criteria, a Kiwisaver first home deposit subsidy can provide you with a funding boost towards home ownership.
After 3 years of contributing to KiwiSaver, you may be entitled to a first home deposit subsidy. The subsidy is administered by Housing New Zealand. This subsidy will be paid to your conveyancer on the day the purchase of the property is settled.
The first home deposit subsidy is $1,000 for each year you've been contributing to KiwiSaver, up to a maximum of $5,000 for five years. If you're a couple buying a house together and you both qualify for a subsidy, you could receive a combined subsidy of up to $10,000.
To find out more, visit the Housing New Zealand website or call them on 0508 935 266
Kiwisaver scheme first home withdrawal
Central Conveyancing can assist you with your application for a first home withdrawal of your Kiwisaver Scheme savings. If you池e a member of a complying fund and want to use your savings for your first home withdrawal you'll need to check with your provider to see if they offer this.
You may be able to withdraw some or all of your KiwiSaver savings (except for the $1,000 kick-start and member tax credit) to put towards buying your first home. You must have been a KiwiSaver member for three or more years and you can only withdraw money to buy your first home - not an investment property. You'll need to apply to your KiwiSaver provider if you want to make a first home withdrawal.
Find out more information on Housing New Zealand's website.