Kiwisaver
A great way to get into your first home is by using your contributions in Kiwisaver. Depending on your situationour home loan lenders will allow you to use your KiwiSaver contributions as a deposit to buy your first house.
As an added bonus, if you have been a Kiwisaver member for 3 years or more the government will GIVE YOU $3,000 (that's $1,000 for every year you have been in Kiwisaver). Up to a maximum of $5,000, per member as a first home subsidy.
 With this in mind, if you are a couple and are both in Kiwisaver you could qualify for $6,000 to
$10,000 combined as a first home deposit subsidy. With the subsidy combined with your own savings you'll have a decent deposit for your first house.
Information You Need To Know
- To take advantage of the subsidy you have to have been a member of Kiwisaver for a minimum of 3 years and have contributed the minimum amounts over that period of time. You may withdraw your contributions and your employers contributions however the $1,000 government start up must stay in your KiwiSaver account.
- The funds cannot be used as a 'cash deposit' when purchasing your new home - it will remain with your solicitor until settlement - this may be a problem when the vendors want a cash deposit - don't worry we have other options available.
With 20 years banking and broking experience Advoco can share some helpful tips to make your first home purchase stress and hassle free ...
The above is for information purposes only and not to be taken as advice. For expert adviceCall us on 0800 775 626 or email us. Click Here
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Steve McGowan 
