After talking with a number of people we have discovered that there is some hesitancy in relation to accessing schemes such as KiwiSaver™ and the Welcome Home Loan ™ packages for home lending.

Many people think that these schemes are just for the young – THEY AREN’T – in fact as our headline states –AGE IS NOT A FACTOR!

So here are the facts:

KiwiSaver™

ANYONE can access their KiwiSaver™ to use the majority of funds as a deposit for their first home.  Subject to the conditions below:

KiwiSaverfirst-home savings withdrawal can be used to: -

• Buy a home.
• Buy land to build a home on (it cannot be used to assist with building costs if you already own land).
• Purchase a property for personal occupation only – NOT for rental.

 After a minimum of three years membership ina KiwiSaver™ scheme, you may be able to withdraw:

• your personal contributions
• your employer contributions
• all returns on those contributions (interest etc)

What you can’t take out is the Government annual subsidy (approx$520p/a) or the initial $1000 kick start.