First home buyer assistance

Deposit assistance for first home buyers is available through the New Zealand Government’s retirement savings initiative, Kiwisaver.

If you/your employer have been contributing to a Kiwisaver account for three or more years, as a first home buyer you may be able to:

• withdraw a portion of your contributions to put towards the purchase of a first home; and
• access a first home buyer deposit subsidy of $1000 per year of membership, up to a maximum of $5000

Additional eligibility for the deposit subsidy includes:

• you must have contributed a minimum of 2 per cent of your income to Kiwisaver or a complying superannuation fund for at least the past three years
• you must be buying your first home (and not an investment property)
• you must live in the property for a minimum of 6 months

It’s important to note that the deposit subsidy scheme attached to Kiwisaver will not make its first payouts until 2010.

For more information on first home buyer grants

For more information on government assistance schemes for first home buyers, or the home loan that is in your best interest, talk to your local mortgage broker or call us at any time on 0508 722 205 (+64 9 526 0122).