Give us a call: (09) 486 4719
btn book free consultation

Blog

Email me when new posts are made to this blog

Positive News for First Home Buyers

March 13th, 2015.

From 1 April 2015 The KiwiSaver HomeStart grant will replace the KiwiSaver First Home deposit subsidy.

The KiwiSaver HomeStart grant provides eligible first home buyers with a grant of up to $5,000 for individuals and up to $10,000 for couples to put towards a deposit for an existing home. So this is the same as the old scheme.

The new KiwiSaver HomeStart grant will also provide eligible first home buyers with a grant of up to $10,000 for individuals and up to $20,000 for couples to help with the costs of building or purchasing a brand new home. So this scheme doubles the potential grant.

In simple terms a person or couple who have been in Kiwisaver for at least 3 years is able to withdraw funds from their Kiwisaver fund plus be eligible for a grant.

A grant of $1,000 (individual) or $2,000 (couple) is available for each year in Kiwisaver up to a maximum of 5 years. However under this revised scheme that amount doubles if buying a new home.

With regard to the Kiwisaver First Home Withdrawal. Tax credits in the Kiwisaver fund can be withdrawn.  So this means that total funds can be withdrawn apart from the $1,000 kick start.

Purchase price caps have been increased under the new scheme and also applies to the Welcome Home Loans scheme:
 
  • Auckland $550,000
  • Hamilton City, Tauranga City, Western Bay of Plenty, Kapiti Coast, Porirua City, Upper Hutt, Wellington City, Nelson City, Tasman, Waimakariri, Christchurch City, Selwyn District, Queenstown Lakes-$450,000
  • Rest of New Zealand $350,000
New property is defined as:
 
  • Avacant residential section on which a new dwelling will be built
  • A house and land package purchased off the plans
  • A new apartment built off the plans
  • A newly built property, defined as a property of any type that has received building code of compliance certificate less than six months before the date of the buyers application
If you wish to discuss home loan options please contact us on (09) 476 1199 or email on info@krispedersen.co.nz and we would be delighted to discuss your individual position and arrange a no obligation finance review meeting to more fully understand your situation.

9 Comments

Adaptas says ...
We all should understood the values to share positive news for the essay writing service home buyers. So, all people lucky for having great news articles and positive essay reviews.

king of kings says ...
Waow this is quite pleasant article, my sister love to read such type of post, I am going to tell her and bookmarking this webpage. Thanks jadescape showflat
sam harries says ...
The item senses solely ideal. Each of small facets were being designed as a result of quite a few history knowledge. I really like the appliance loads. 카지노사이트
sam harries says ...
I truly love this post I will visit again to peruse your post in an exceptionally brief time and I trust you will make more posts this way. IT Business Services
king of kings says ...
I have looked couple of days and found some hypnotizing framed work on it. Regardless, it is the best of all. is ham bad for dogs
dany says ...
You make so many great points here that I read your article a couple of times. Your views are in accordance with my own for the most part. This is great content for your readers. 토토사이트
dany says ...
You have done a great job. I will definitely dig it and personally recommend to my friends. I am confident they will be benefited from this site. off page seo
dany says ...
Thanks for your post. I’ve been thinking about writing a very comparable post over the last couple of weeks. I’ll probably keep it short and sweet and link to this instead if thats cool. Thanks. 토토사이트
dany says ...
Our credit fix administrations work to fix past credit errors and confirm credit report precision. Converse with a credit fix master today! mr eazi pour me water

GET IN TOUCH FOR FREE, NO-OBLIGATION ADVICE ON YOUR NEXT INVESTMENT

“ *As a rule, we advise that you contact us as early as possibly to secure the most suitable time for your consultation.
Product Query

First Name*
Email*
Phone
 

CONTACT US

Kris Pedersen Mortgages Limited

+64 9 486 4719
info@krispedersen.co.nz
Skype: Kris_Pedersen    
Takapuna Office
 
388 Lake Road
Takapuna
Auckland 0622
Newmarket Office
 
Level 6
135 Broadway
Newmarket
Auckland 1023
Postal Address
 
PO Box 33650
Takapuna
Auckland 0740