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.
If you’re unsure whether you’re eligible for a second KiwiSaver withdrawal, we can help.
Receive updates on the housing market, interest rates and the economy. No spam, we promise.
The opinions expressed in this article should not be taken as financial advice, or a recommendation of any financial product. Squirrel shall not be liable or responsible for any information, omissions, or errors present. Any commentary provided are the personal views of the author and are not necessarily representative of the views and opinions of Squirrel. We recommend seeking professional investment and/or mortgage advice before taking any action.
To view our disclosure statements and other legal information, please visit our Legal Agreements page here.