Did you know that the KiwiSaver savings withdrawal includes your contributions, your employer's contributions and any returns whilst the funds have been invested and any member tax credits. If you and your partner both qualify for a Savings Withdrawal, then these amounts can be combined.
This could add a significant amount to your deposit and make you eligible for a home loan.
It is important though to be aware that a withdrawal from your KiwiSaver account may impact on your long term savings plan. This must be discussed by you with your Investment Adviser as KiwiSaver is an Investment product and the Financial Advisers and staff of First Rate Mortgages Ltd are not able to provide advice on Investments.
The Key Points to be eligible for a KiwiSaver First Home Savings Withdrawal:
NOTE: Effective 1 April 2015 and onwards your KiwiSaver first home withdrawal may include:
Prior to 1 April 2015, KiwiSaver members were unable to withdraw their MTCs when purchasing their home.
So if you are looking to increase your deposit to help you buy your own home and think that you may be eligible for a First Home Savings Withdrawal, it costs nothing to ask!
Contact us for more information
or Freephone Allan on 0800 178 728
NOTE: This website is operated by First Rate Mortgages Limited and is not endorsed by, or affiliated with, New Zealand government or Inland Revenue. First Rate Mortgages Limited is using the KiwiSaver trade mark and logo under licence from Inland Revenue. To view the official KiwiSaver government website click here.