Second chance KiwiSaver withdrawals

Housing Market Written by John Bolton, Dec 6 2019

With the formation of Kāinga Ora and its new website, finding information on the KiwiSaver withdrawal process has gotten a bit messy. We’ve had a few clients struggling to understand the process, so here’s a quick soundbite.

You can still withdraw your KiwiSaver for a home purchase even if you have owned property before - provided you look like a first home buyer.

The most common scenario we see is businesspeople who have sold their house to rescue the business, and then later on are buying back into the market. In this case, for all intents and purposes, you will be viewed as a first home buyer and granted access to your KiwiSaver for a deposit.

The first thing you must do is get approval from Kāinga Ora. There is an online application to do this (that is hard to find) but you can get to it here.

Once you have approval you can then apply to your KiwiSaver provider for a withdrawal confirmation and you’re ready to go. Simple.

If you’re unsure whether you’re eligible for a second KiwiSaver withdrawal, get in touch and we’ll be happy to chat through your situation.

We can help. Have a chat to one of our advisers.