NZ Herald
  • Home
  • Latest news
  • Herald NOW
  • Video
  • New Zealand
  • Sport
  • World
  • Business
  • Entertainment
  • Podcasts
  • Quizzes
  • Opinion
  • Lifestyle
  • Travel
  • Viva
  • Weather

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • New Zealand
    • All New Zealand
    • Crime
    • Politics
    • Education
    • Open Justice
    • Scam Update
  • Herald NOW
  • On The Up
  • World
    • All World
    • Australia
    • Asia
    • UK
    • United States
    • Middle East
    • Europe
    • Pacific
  • Business
    • All Business
    • MarketsSharesCurrencyCommoditiesStock TakesCrypto
    • Markets with Madison
    • Media Insider
    • Business analysis
    • Personal financeKiwiSaverInterest ratesTaxInvestment
    • EconomyInflationGDPOfficial cash rateEmployment
    • Small business
    • Business reportsMood of the BoardroomProject AucklandSustainable business and financeCapital markets reportAgribusiness reportInfrastructure reportDynamic business
    • Deloitte Top 200 Awards
    • CompaniesAged CareAgribusinessAirlinesBanking and financeConstructionEnergyFreight and logisticsHealthcareManufacturingMedia and MarketingRetailTelecommunicationsTourism
  • Opinion
    • All Opinion
    • Analysis
    • Editorials
    • Business analysis
    • Premium opinion
    • Letters to the editor
  • Politics
  • Sport
    • All Sport
    • OlympicsParalympics
    • RugbySuper RugbyNPCAll BlacksBlack FernsRugby sevensSchool rugby
    • CricketBlack CapsWhite Ferns
    • Racing
    • NetballSilver Ferns
    • LeagueWarriorsNRL
    • FootballWellington PhoenixAuckland FCAll WhitesFootball FernsEnglish Premier League
    • GolfNZ Open
    • MotorsportFormula 1
    • Boxing
    • UFC
    • BasketballNBABreakersTall BlacksTall Ferns
    • Tennis
    • Cycling
    • Athletics
    • SailingAmerica's CupSailGP
    • Rowing
  • Lifestyle
    • All Lifestyle
    • Viva - Food, fashion & beauty
    • Society Insider
    • Royals
    • Sex & relationships
    • Food & drinkRecipesRecipe collectionsRestaurant reviewsRestaurant bookings
    • Health & wellbeing
    • Fashion & beauty
    • Pets & animals
    • The Selection - Shop the trendsShop fashionShop beautyShop entertainmentShop giftsShop home & living
    • Milford's Investing Place
  • Entertainment
    • All Entertainment
    • TV
    • MoviesMovie reviews
    • MusicMusic reviews
    • BooksBook reviews
    • Culture
    • ReviewsBook reviewsMovie reviewsMusic reviewsRestaurant reviews
  • Travel
    • All Travel
    • News
    • New ZealandNorthlandAucklandWellingtonCanterburyOtago / QueenstownNelson-TasmanBest NZ beaches
    • International travelAustraliaPacific IslandsEuropeUKUSAAfricaAsia
    • Rail holidays
    • Cruise holidays
    • Ski holidays
    • Luxury travel
    • Adventure travel
  • Kāhu Māori news
  • Environment
    • All Environment
    • Our Green Future
  • Talanoa Pacific news
  • Property
    • All Property
    • Property Insider
    • Interest rates tracker
    • Residential property listings
    • Commercial property listings
  • Health
  • Technology
    • All Technology
    • AI
    • Social media
  • Rural
    • All Rural
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology
    • Opinion
    • Audio & podcasts
  • Weather forecasts
    • All Weather forecasts
    • Kaitaia
    • Whangārei
    • Dargaville
    • Auckland
    • Thames
    • Tauranga
    • Hamilton
    • Whakatāne
    • Rotorua
    • Tokoroa
    • Te Kuiti
    • Taumaranui
    • Taupō
    • Gisborne
    • New Plymouth
    • Napier
    • Hastings
    • Dannevirke
    • Whanganui
    • Palmerston North
    • Levin
    • Paraparaumu
    • Masterton
    • Wellington
    • Motueka
    • Nelson
    • Blenheim
    • Westport
    • Reefton
    • Kaikōura
    • Greymouth
    • Hokitika
    • Christchurch
    • Ashburton
    • Timaru
    • Wānaka
    • Oamaru
    • Queenstown
    • Dunedin
    • Gore
    • Invercargill
  • Meet the journalists
  • Promotions & competitions
  • OneRoof property listings
  • Driven car news

Puzzles & Quizzes

  • Puzzles
    • All Puzzles
    • Sudoku
    • Code Cracker
    • Crosswords
    • Cryptic crossword
    • Wordsearch
  • Quizzes
    • All Quizzes
    • Morning quiz
    • Afternoon quiz
    • Sports quiz

Regions

  • Northland
    • All Northland
    • Far North
    • Kaitaia
    • Kerikeri
    • Kaikohe
    • Bay of Islands
    • Whangarei
    • Dargaville
    • Kaipara
    • Mangawhai
  • Auckland
  • Waikato
    • All Waikato
    • Hamilton
    • Coromandel & Hauraki
    • Matamata & Piako
    • Cambridge
    • Te Awamutu
    • Tokoroa & South Waikato
    • Taupō & Tūrangi
  • Bay of Plenty
    • All Bay of Plenty
    • Katikati
    • Tauranga
    • Mount Maunganui
    • Pāpāmoa
    • Te Puke
    • Whakatāne
  • Rotorua
  • Hawke's Bay
    • All Hawke's Bay
    • Napier
    • Hastings
    • Havelock North
    • Central Hawke's Bay
    • Wairoa
  • Taranaki
    • All Taranaki
    • Stratford
    • New Plymouth
    • Hāwera
  • Manawatū - Whanganui
    • All Manawatū - Whanganui
    • Whanganui
    • Palmerston North
    • Manawatū
    • Tararua
    • Horowhenua
  • Wellington
    • All Wellington
    • Kapiti
    • Wairarapa
    • Upper Hutt
    • Lower Hutt
  • Nelson & Tasman
    • All Nelson & Tasman
    • Motueka
    • Nelson
    • Tasman
  • Marlborough
  • West Coast
  • Canterbury
    • All Canterbury
    • Kaikōura
    • Christchurch
    • Ashburton
    • Timaru
  • Otago
    • All Otago
    • Oamaru
    • Dunedin
    • Balclutha
    • Alexandra
    • Queenstown
    • Wanaka
  • Southland
    • All Southland
    • Invercargill
    • Gore
    • Stewart Island
  • Gisborne

Media

  • Video
    • All Video
    • NZ news video
    • Herald NOW
    • Business news video
    • Politics news video
    • Sport video
    • World news video
    • Lifestyle video
    • Entertainment video
    • Travel video
    • Markets with Madison
    • Kea Kids news
  • Podcasts
    • All Podcasts
    • The Front Page
    • On the Tiles
    • Ask me Anything
    • The Little Things
  • Cartoons
  • Photo galleries
  • Today's Paper - E-editions
  • Photo sales
  • Classifieds

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In
Advertisement
Advertise with NZME.
Home / Business / Personal Finance / KiwiSaver

KiwiSaver: 'First-home buyer' means what it says

Helen Twose
By Helen Twose
Columnist·Herald on Sunday·
11 Jun, 2016 05:00 PM3 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

Sharing a house with Dad and your brother will remove your first-home buyer status, even if it's only part ownership. Photo / Getty Images

Sharing a house with Dad and your brother will remove your first-home buyer status, even if it's only part ownership. Photo / Getty Images

Q: If two sons each inherit a 25 per cent share in the family home as tenants in common with the remaining parent who continues to live there, does this affect a first-home withdrawal or HomeStart using KiwiSaver funds?The first-home withdrawal, one of the few opportunities to withdraw some KiwiSaver funds before retirement, is aimed at helping those who don't own property get into a home.

A: I asked Donna Nicolof, BNZ's head of wealth and private banking, how providers would treat an application from your sons.

Nicolof says one of the criteria to qualify as a first-home buyer is that you have never held an "estate in land", either solely or jointly with another person.

"Unfortunately, because the two sons each continue to hold a 25 per cent share in the family home, neither of them qualifies as a first-home buyer."

There are exceptions to the general rule so it is important to talk to your KiwiSaver provider or Housing New Zealand about your eligibility to access KiwiSaver funds or the HomeStart grant.

Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.

Previous homeowners who no longer own property can dip into their KiwiSaver funds to get back on the property ladder, but they need to be in the same financial position as a first-home buyer and can't have used KiwiSaver in the past.

Housing New Zealand, which assesses the applications on behalf of KiwiSaver providers, will look at your realisable assets: bank deposits, shares, expensive boats and caravans, classic cars and motorbikes. Income caps in place for previous homeowners will be dropped on July 1.

Those applying to access KiwiSaver as previous homeowners may also be eligible for the HomeStart grant.

Advertisement
Advertise with NZME.

The HomeStart grant, administered by Housing New Zealand, provides an extra boost for those on more modest incomes to help them buy a home.

To apply for a HomeStart grant you must be making regular contributions to KiwiSaver - generally 3 per cent of your total income - must earn $80,000 or less as a sole purchaser, or a combined income of $120,000 or less for a couple or several people and have a 10 per cent deposit, which can include money in your KiwiSaver account.

The check-list for the HomeStart grant is at the Housing New Zealand website: tinyurl.com/h4e8xow.

Unlike with the KiwiSaver first-home withdrawal, people claiming the HomeStart grant will also be limited to buying a house worth less than $550,000 in Auckland, $450,000 in cities including Hamilton, Tauranga, Wellington, Nelson, Christchurch and Queenstown, and $350,000 elsewhere in New Zealand.

Discover more

KiwiSaver

Kiwisaver: Tangles trip up UK fund transfers

28 May 05:00 PM
KiwiSaver

KiwiSaver retirees are hoarding their cash

01 Jun 01:25 AM
KiwiSaver

Death and the KiwiSaver

04 Jun 05:00 PM
Employment

New Zealand harnessing mature workers

14 Jun 06:25 PM

You can buy an existing home, in which case the grant will be between $3000 and $10,000 depending on your circumstances, but if the grant is used to buy a newly built or yet-to-be-built home the grant doubles.

The home purchased with the HomeStart grant must be lived in for at least six months from settlement or receiving a code of compliance or you risk having to pay the money back with interest.

Save

    Share this article

Latest from KiwiSaver

KiwiSaver

'It's security': Push for KiwiSaver access to aid young farmers

27 Jun 05:00 PM
Premium
Opinion

Mary Holm: Should I pay off my student loan or invest in an index fund?

13 Jun 05:00 PM
Premium
KiwiSaver

'Opening a can of worms': Govt considers allowing KiwiSaver withdrawals for farms

10 Jun 05:00 PM

There’s more to Hawai‘i than beaches and buffets – here’s how to see it differently

sponsored
Advertisement
Advertise with NZME.

Latest from KiwiSaver

'It's security': Push for KiwiSaver access to aid young farmers

'It's security': Push for KiwiSaver access to aid young farmers

27 Jun 05:00 PM

Federated Farmers launched a petition to change KiwiSaver rules urgently.

Premium
Mary Holm: Should I pay off my student loan or invest in an index fund?

Mary Holm: Should I pay off my student loan or invest in an index fund?

13 Jun 05:00 PM
Premium
'Opening a can of worms': Govt considers allowing KiwiSaver withdrawals for farms

'Opening a can of worms': Govt considers allowing KiwiSaver withdrawals for farms

10 Jun 05:00 PM
Premium
Tens of thousands more Kiwis seeking financial help from KiwiSaver

Tens of thousands more Kiwis seeking financial help from KiwiSaver

09 Jun 05:00 PM
From early mornings to easy living
sponsored

From early mornings to easy living

NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • NZ Herald e-editions
  • Daily puzzles & quizzes
  • Manage your digital subscription
  • Manage your print subscription
  • Subscribe to the NZ Herald newspaper
  • Subscribe to Herald Premium
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Hawke's Bay Today
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • iHeart Radio
  • Restaurant Hub
NZME
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • NZME Events
  • © Copyright 2025 NZME Publishing Limited
TOP