So this discussion is about using your Kiwisaver Savings Withdrawal, this is different to the Kiwisaver Home Start Grant, which is a grant from the government which we feature in another video. I encourage you to watch that video after this one.

The Kiwisaver First Home Withdrawal means that if you have been in Kiwisaver for 3 years, and contributed the minimum amount, you can withdraw all your Kiwisaver funds.

You can withdraw your contributions, your employer contributions, any tax credits and any investment returns. You just have to leave $1,000 in there, but you can withdrawal everything else.

If you have a partner which has either owned a property before or currently owns a property it won't affect your ability to withdrawal its individually assessed.

Also if you personally have owned a property before, you may still be able to withdraw your Kiwisaver funds, please get in touch if you have any questions regarding that. When you withdraw your Kiwisaver funds there are no restrictions on the type, make or value of the property.

The restrictions apply to the Home Start Grant, in terms of withdrawing your funds, you can use that money to buy any property you wish. Now you will still be subject to normal lending criteria, but in terms of the deposit, you can take all that money out.

So all you have to do is check your Kiwisaver fund is a complying fund and allows the savings withdrawal, and you can apply through them for a letter which says you can withdrawal that money, and you can bring that to a mortgage adviser, and we can use that as a basis for your pre-approval.

I encourage you to watch the next video which is the Home Start Grant.

Thanks so much for watching.

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