Kiwisaver & Housing New Zealand

We are often helping our clients with the paperwork for Kiwisaver withdrawal applications and Housing New Zealand (HNZ) first home grants. Whilst we are very familiar with the process and the paper war our clients, understandably, are not and it can be overwhelming.

These are similar but different applications. To give you an idea:

The HNZ subsidy is an online application where you attach the agreement you have entered into to purchase the property and confirm kiwisaver contributions. If successful, you then receive a letter advising how much you are entitled to and requesting information of how you are paying for the property. This usually requires recent confirmation from your Bank of the funds in your bank account if being used towards the deposit. Your kiwisaver withdrawal can also make up part of your deposit. Once accepted HNZ then generate an agreement which is sent to your lawyers who are then required to advise you on it, have you sign it and return it to HNZ.

The Kiwisaver withdrawal application is quite different. Each kiwisaver fund provider have different forms with different identification and proof of address requirements. It pays to read the forms first, collect all the information before you head into the lawyer’s office.   You will need the application to be statutory declared in front of your lawyer or a Justice of the Peace.

If you have owned a property (even bare land) previously then, you need to complete the online application with HNZ to be a second chance home buyer to allow you to proceed with your kiwsaver withdrawal. That is a separate online application to the application for the HNZ subsidy. If accepted HNZ provide you with a one page letter advising you of your eligibility and that then is provided to your kiwisaver fund provider.

Its important to ensure the applications are being processed in a timely fashion to meet deadlines for contracts and settlement dates.

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