How do I use my KiwiSaver to purchase a first home?

How do I use my KiwiSaver to purchase a first home?

You may be eligible to withdraw most of your KiwiSaver savings to help buy your first home, if you meet all of the following criteria:

  1. You’ve been a KiwiSaver member for at least three years
  2. You’re buying a house or land in New Zealand
  3. You intend to live in the property as your main home
  4. You’ve not previously used your KiwiSaver to buy a home or land

In addition, you must meet one of the following:
  1. You have never owned a home or land before
  2. You no longer own any property and have a determination letter from Kāinga Ora confirming your eligibility as a previous home buyer

If eligible, you can withdraw your employee, employer, and government contributions, plus any investment returns - leaving a minimum balance of $1,000 in your account (plus any Australian Super or QROPS transfers, which can’t be withdrawn). 

Step 1: Download your First Home Withdrawal Quote
  1. Log in to the member app,
  2. Select your KiwiSaver fund, and then your fund type under Your funds.
  3. You will then see Documents & forms under Manage your fund.
Download your First Home Withdrawal Quote. This shows how much you can withdraw and is often required by your lender. Note - a letter will not be generated if our records indicate you are ineligible (either because you have been in KiwiSaver for less than 3 years, or you have previously made a first home withdrawal). 

Step 2: Complete the First Home Withdrawal Form 
When you have a sale and purchase agreement, log in to the member app, go to Documents & forms under Manage your fund, and download the appropriate First Home Withdrawal Form (Depending on whether you need the funds to put towards a deposit or settlement). Email the completed form and supporting documents to us at info@simplicity.kiwi at least 10 working days before you need the funds. The form outlines all required documents.