Important COVID Update
Read Here
News

The KiwiSaver HomeStart grant for first home buyers

If you’re talking to a first home buyer who may be in doubt on how they can finance their first home, our Loan Market brokers can bring them up to speed about the KiwiSaver HomeStart grant that could be the answer they are looking for.

What is KiwiSaver?

KiwiSaver is a voluntary savings scheme, designed to help Kiwis save for retirement. Contributions come from their own wages and from an annual government contribution, as well as the returns from investments. If you’re self-employed, you can negotiate contributions with your KiwiSaver provider.

How your client can access the KiwiSaver HomeStart grant?

Eligible first home buyers who have contributed to their KiwiSaver for at least three years may be entitled to the grant. This includes $1,000 for each year of contribution to the scheme for example:

  • 3 years – $3,000 (the minimum they can get)
  • 4 years – $4,000
  • 5 years – $5,000 (the maximum they can get)

And if they are building a new home, have bought off the plan or land, it’s even better news at $2,000 for each year a contribution has been made with a max of $10,000 (which isn’t too bad at all).

If you or your client have any questions about the KiwiSaver HomeStart grant and the eligibility criteria, don’t hesitate to give me a call.

__________________________________________

This article was supplied by Bruce Patten, International Mortgage Broker of the Year 2006 – 2017.  Bruce is always on hand to answer any questions you may have about loans or anything else around the loan process. Feel free to get in touch with him anytime via phone (021 661 114) or email (bruce.patten@loanmarket.co.nz).

Up to Date

Latest News

  • Confidence Remains in Property Prices

    ARTICLE SUPPLIED BY REINZ The median house price in Auckland reached a new record high of $1,200,000 in August, increasing 26.4% year-on-year. Five of the seven districts in Auckland including Manukau reached record median prices in August. Jen Baird, Chief Executive at REINZ says: “House prices have once again risen … Read more

    Read Full Post

  • Congratulations Ray White Eastern Group

    We are celebrating our people’s success. Recently the Eastern Group had an awards night focusing on some of our talented individuals and teams. Congratulations to all, we are looking forward to next years awards Howick No. 1 Growth Year on Year … Read more

    Read Full Post