KiwiSaver First Home buyer scheme – updated

Dreaming about purchasing your first home?
Want to access the KiwiSaver First Home Purchase options?
Confused about what your options are and exactly what benefits you may be entitled to?
Want help to invest your KiwiSaver funds to grow your deposit?

Q: What help is available to first home buyers through KiwiSaver?
A: 1. KiwiSaver HomeStart Grant – up to $5,000 grant per person for existing home purchase
2. KiwiSaver HomeStart Grant – up to $10,000 grant per person for new home purchase
3. KiwiSaver First Home withdrawal – withdraw everything except $1,000 Kick-start
4. Welcome Home Loan – 10% deposit only required

Q: Are there any conditions that apply to accessing the KiwiSaver HomeStart grant?
A: Yes there are limits to the value of the home you can purchase, how much income you can earn and conditions that determine the value of the grant you are entitled to from Housing New Zealand.

Q: How much can I spend on my new home?
A: You can purchase a home up to the value of $500,000, or if you are building a new home up to $550,000. This limit applies to the Christchurch City, Waimakariri and Selwyn District council boundaries. In the greater Canterbury area the limit is $400,000. For the rest of New Zealand contact us for more info.

Q: What are the income limits?
A: If you are purchasing on your own you can earn up to a maximum of $85,000 per annum, if you are a couple your combined household income cannot exceed $130,000 per annum.

Q: Who provides the Welcome Home Loan?
A: A number of lenders Amicus use offer the Welcome Home Loan. If you are purchasing your first home and you qualify for the KiwiSaver First Home buyer’s scheme you can apply for a loan to any bank that offers it. It is important to note that normal lending criteria apply.

Q: This seems complicated, how do I find out if I qualify for these benefits?
A: The easiest way is to meet with a Mortgage Adviser at Amicus Group.

Q: What help can an Adviser from Amicus Group provide?
A: An Amicus adviser can help you through the entire process including:

  • Applying for the HomeStart Grant from Housing New Zealand
  • Applying to withdraw your KiwiSaver Funds
  • Arranging your mortgage to complete the purchase of your new home
  • Welcome Home Loan (10% deposit only required)

Q: What advantage will I gain from using an Adviser?
A: There are a number of advantages using an Amicus Adviser, some of these are:

  • We deal with most major lenders
  • We act independently of the banks
  • We act on your behalf to secure you the best deal
  • We can apply to multiple lenders at once. You complete one application rather than several.
  • We are paid by the lender, our service to you is free

Contact us now to speak to a mortgage adviser.

 mortgage calculator


+64 3 943 4108

196 St Asaph Street

PO Box 5507 Papanui
Christchurch 8542


Amicus Group

For Life Insurance, KiwiSaver, Investment and Lending:
This email address is being protected from spambots. You need JavaScript enabled to view it. 


Amicus Brokers

For Commercial, Rural and Domestic Insurance:

This email address is being protected from spambots. You need JavaScript enabled to view it.