We recently received a question from a First Home Buyers Club member. This Kiwi is currently working in the UK but is looking to return to New Zealand within the next few months with the plan to purchase a home using the KiwiSaver HomeStart grant. The question was, how would his income be assessed in...

We were recently asked about the requirements for using your KiwiSaver HomeStart grant to purchase land for building a new home.  More specifically the question asked was “Is a HomeStart grant still obtainable in the situation of purchasing land now but waiting a period of time before building...

Welcome Home Loan       Housing New Zealand run a scheme to assist First Home Owners called the Welcome Home Loan.  How it works You need a 10% deposit – your deposit cannot be borrowed. Income and Housing Value caps apply to this scheme as follows Income Limits $80,000 for 1 buyer,  $120,000...

Sales at auction are unconditional, this means you must proceed with the purchase and can’t back out after the fall of the hammer! So before you turn up to bid, you need to ensure that you have completed these tasks; Decide on the absolute maximum price you are willing to pay as you will need...

The National Party’s Kiwisaver HomeStart programme comes into effect 1st April 2015. We have been in contact with Housing NZ to find out more about the detail of the forthcoming changes. At this stage we are advised that the finer detail is yet to finalised. We will update our members as more information...

   We asked Authorised Financial Advisor (AFA) Gary Warner of True North Investments this question, here is Gary’s Advice;   There are a many types of KiwiSaver funds differing in their levels of volatility- typically they range from very defensive funds primarily invested in cash through...

We asked Authorised Financial Advisor Gary Warner of True North Investments this question – here’s what Gary advises;   If I was answering this question on a sheer likely investment performance basis there would be no real definitive answer as nobody can say for sure which investment-your...

Question As a first home buyer I am looking to use my Kiwisaver towards my deposit for my first home. How much of my fund can I withdraw?   Answer You may be able to withdraw ALL your contributions, ALL your employer contributions, plus any earnings. The only amounts you can’t withdraw are...

Our first home buyer member Shannon asked us the following question;   Can your kiwisaver savings go towards the deposit of your first home, or can it only go towards the mortgage itself once the deposit has been paid? Our answer; The term ‘deposit’ can be a little confusing as it is...

Since the introduction of KiwiSaver and its options for first home buyers, there has been and continues to be confusion regarding the withdrawal option and the deposit subsidy – we hope this will help clarify both of these great options! Firstly there are 2 distinctly different options for First...