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FAQs - First Home Purchases

Can I apply for a first home withdrawal to buy an investment property?

Unfortunately you can't. You can only apply for a first home withdrawal if the property is intended to be your principal place of residence.

I already own some land. Can I apply for a first home withdrawal to build a house on it?

Unfortunately you can't. Owning land is treated the same as owning a house as far as KiwiSaver is concerned, so you won't be eligible to apply for a first home withdrawal.

I joined KiwiSaver two years ago and I'm about to buy a house. Can I apply for a first home withdrawal?

Unfortunately you can't. You need to be a KiwiSaver member for three years before you can apply for a first home withdrawal.

I own a house overseas. Can I apply for a first home withdrawal to buy a house in New Zealand?

Unfortunately you can't. Irrespective of where the house is, if you already own a home, you aren't eligible to apply for a first home withdrawal.

I already own a home. Can I use apply for a first home withdrawal to pay off my mortgage?

Unfortunately you can't. You can only apply for a first home withdrawal to be used towards the purchase price on your home prior to settlement date.

Can I withdraw my Australian Superannuation savings from my KiwiSaver account to use towards my first home?

Unfortunately you can't. Your Aussie Super savings are still bound by Australian legislation. You can only withdraw them when you satisfy the Australian definition of retirement.

Can I apply for a first home withdrawal to buy land?

Yes, you can. You can apply for a first home withdrawal to buy land provided that you intend to live on the property.

When will my KiwiSaver savings be paid out?

For an unconditional sale and purchase agreement, funds will be paid to your Solicitor's trust account up to 5 working days prior to settlement date. For a conditional sale and purchase agreement, funds will be paid to your Solicitor's trust account as soon as we have reviewed your application and can process the withdrawal. Please note we require all documentation to be with us at least 10 working days before payment can be made.

Read more about First Home Purchases »

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