For many New Zealanders, KiwiSaver is the biggest source of deposit money when buying a first home. After three years as a member you may be able to withdraw most of your balance, including employer and government contributions and investment returns, to put toward a home or land to build your first home on.
This guide covers how the withdrawal works and how to apply: the steps, what the application form asks for, the documents providers want, timing before settlement, and what to do if something changes. Who qualifies is covered in full in the KiwiSaver first home withdrawal eligibility guide, and the rest of this section is listed on the KiwiSaver first home hub.
What Is the KiwiSaver First Home Withdrawal?
The first home withdrawal lets an eligible member take money out of KiwiSaver to buy their first home, or land to build their first home on, in New Zealand. At least $1,000 must stay in the account. The money is paid to your solicitor, not to you, and can go toward the deposit or toward settlement.
It is separate from two Kāinga Ora schemes you will see mentioned alongside it:
- The First Home Grant closed to new applications on 22 May 2024. What it was and what happened to applications already in progress is covered in the First Home Grant and HomeStart grant guide.
- The First Home Loan is a low-deposit mortgage through participating lenders, and your KiwiSaver withdrawal can count toward its deposit. See the First Home Loan guide.
Who Can Use It
In short, you must:
- have been a member of KiwiSaver (or a complying superannuation fund) for at least three years
- not have owned a home or land before, in New Zealand or overseas (an interest in Māori land does not count, and Kāinga Ora can decide that a previous home owner is in the same financial position as a first home buyer)
- be buying a home or land in New Zealand that you intend to live in
- not have made a first home withdrawal before.
The edge cases (savings suspensions, trusts, relationship property, overseas property, joint purchases) are in the first home withdrawal eligibility guide. How a savings suspension works, and how KiwiSaver is treated when a relationship ends (KiwiSaver and divorce), have their own guides. Investment properties and second homes don’t qualify; see using KiwiSaver for a second home or investment property.
How Much Can You Withdraw?
You can withdraw everything in your account except $1,000, any savings transferred from an Australian superannuation scheme, and any government contributions received for periods when New Zealand was not your principal place of residence. What that means for your deposit, with worked balances, is in how much KiwiSaver you can use as a house deposit.
How to Apply, Step by Step
Step 1: Confirm your eligibility and get an estimate
Ask your provider to confirm when you first joined KiwiSaver and work through the eligibility rules. If you have owned property before, the Kāinga Ora previous home owner decision comes first, because your provider can’t approve the withdrawal without it.
Most providers can give you an estimate of how much you can withdraw well ahead of time. Some also issue a first home withdrawal eligibility letter before you have found a property (ANZ, for example, offers one in its app and internet banking).
Step 2: Sign a sale and purchase agreement and tell your solicitor
The application needs the details of the property, so it is made once you have a signed sale and purchase agreement. Tell your conveyancing solicitor straight away that part of your deposit or settlement money is coming from KiwiSaver: the money is paid into their trust account, so they need to plan for it.
Step 3: Complete your provider’s application form
Each provider has its own first home withdrawal form (often online). It typically asks for:
- your full name, IRD number and KiwiSaver member number (how to find your KiwiSaver number)
- the property address and purchase price
- the settlement date, or the date the money is needed
- your solicitor’s name, contact details and trust account details.
Step 4: Gather the supporting documents
Check your provider’s own list. Commonly requested documents are:
- a copy of the signed sale and purchase agreement showing you as the purchaser (or a deed of nomination if your name isn’t on it)
- photo identification, such as a passport or driver’s licence, if your provider doesn’t already hold it
- a statutory declaration confirming you meet the first home withdrawal criteria, witnessed by someone authorised to take declarations (such as a lawyer or Justice of the Peace)
- if you have owned property before, the Kāinga Ora previous home owner decision.
If you are buying through a trust, providers generally require your name to be on the sale and purchase agreement or a deed of nomination, and that you are both a trustee and a beneficiary of the trust.
Step 5: Send the application and keep copies
Send the completed form and documents to your provider (most accept digital submission) and keep copies of everything. Ask your provider to confirm receipt and when it expects to pay.
Step 6: The provider reviews the application and pays your solicitor
A withdrawal is not confirmed until your provider has reviewed the application and agreed to release the money; it may ask for more documents. Once approved, the scheme’s administrator redeems your units and pays your solicitor’s trust account. Providers ask for 10 to 15 working days before the payment date, so check your own provider’s lead time.
Step 7: Settlement
On settlement day your solicitor uses the KiwiSaver money, your other deposit funds and the mortgage to complete the purchase. Your KiwiSaver account stays open.
The order of events from pre-approval to settlement, with a checklist, is in the KiwiSaver first home withdrawal timeline.
Timing: When to Apply
Providers need time to review the application and sell your units: MAS, for example, asks for the form at least 10 business days before your withdrawal date. Most sale and purchase agreements settle within weeks, so the application can’t wait until just before settlement.
- Apply as soon as you have a signed agreement, and check whether your provider needs the agreement to be unconditional first.
- Check your provider’s lead time, which is commonly 10 to 15 working days before the payment date.
- Tight settlement periods (under two weeks) leave little room if your provider asks for more documents.
If the money doesn’t reach your solicitor by settlement, you may not be able to settle on time. What that can mean is covered in the timeline guide.
What If Your Settlement Date Changes?
Tell your KiwiSaver provider (and your solicitor) straight away if your settlement date moves. Your provider may be able to change the payment date. If settlement moves earlier, the application may not finish processing in time, so ask your provider how long it still needs before you agree to the new date.
Common Mistakes
| Mistake | How to avoid it |
|---|---|
| Applying too late | Apply as soon as the sale and purchase agreement is signed |
| Wrong solicitor trust account details | Confirm them with your solicitor before you send the form |
| Missing statutory declaration | Arrange it early: it needs an authorised witness |
| Not giving the provider the settlement date | Put the date the money is needed on the form |
| Forgetting the $1,000 that must stay | Leave it out of your deposit calculation |
| Not getting the Kāinga Ora decision first (previous home owners) | Apply to Kāinga Ora before you make an offer |
Your Fund in the Lead-Up to Buying
The amount paid out is your balance when your provider redeems your units, so it moves with your fund’s returns until then. Funds with more shares tend to rise and fall more in value than funds with more cash and bonds; KiwiSaver fund types explained sets out how they differ, and changing your KiwiSaver fund type covers how a switch works.
After You Buy
Your KiwiSaver account stays open with at least $1,000 in it, and payroll contributions carry on as normal: the withdrawal doesn’t end your membership or change your contribution rate.
Your employer continues to contribute at least 3.5% on top of your pay (the default minimum rose from 3% to 3.5% on 1 April 2026), and you can keep getting the government contribution on future contributions. How to change your rate is in KiwiSaver contribution rates.
Common Questions and Scenarios
Buying with a partner: can you both withdraw?
Yes. If both partners are KiwiSaver members and both meet the eligibility criteria, both can withdraw for the same purchase.
What if one partner is not eligible?
Only the eligible partner can withdraw. The other partner’s balance stays invested. The purchase can still go ahead.
Can I use KiwiSaver to buy a new build or a house and land package?
Yes. The withdrawal works the same way whatever the property type; the difference is timing, because a house and land package may settle only when the build is finished. See using KiwiSaver for a house and land package or new build.
What if my application is declined?
Providers decline a first home withdrawal when the criteria aren’t met. Reasons include membership under three years, the property not being a home you will live in, or previous property ownership without a Kāinga Ora previous home owner decision.
Frequently Asked Questions
Do I need to pay back the KiwiSaver withdrawal?
No, unless the purchase doesn’t settle, in which case the money goes back to your provider. It is a withdrawal of your own savings, not a loan. Your retirement balance will be lower as a result.
Can I use the withdrawal if I already own land?
No. You can’t use a first home withdrawal to pay for building a home on land you already own, however you came to own it (including land you were gifted or inherited). You can use it to buy land to build your first home on, but only for the land, not the build.
Does the three-year period restart if I change providers?
No. Switching KiwiSaver providers doesn’t reset it.
Can I still get the government contribution after withdrawing?
Yes. The withdrawal is a one-off. Your contributions continue afterwards and count toward the government contribution as normal.
Is the KiwiSaver withdrawal taxed?
No. The withdrawal itself isn’t taxed as income. Tax on investment earnings is paid inside the fund throughout the life of the account.
How long does it take for the money to reach my solicitor?
It depends on your provider: some quote about 10 working days from a complete application and others up to 15, so ask yours.
Can I apply for the withdrawal myself?
You complete and sign the application, but the money is paid to your solicitor’s trust account for settlement, so your solicitor needs to be involved and usually helps with timing.
Summary
- Eligible after: three years of KiwiSaver membership
- How much: everything except $1,000, any Australian-transferred savings and any government contributions received for periods when New Zealand was not your principal place of residence
- Who it is paid to: your solicitor’s trust account
- What you send: your provider’s application form, the signed sale and purchase agreement, ID and a statutory declaration
- Timing: depends on your provider, which asks for your complete application a set time before the payment date (commonly 10 to 15 working days)
- After withdrawal: the account stays open and contributions continue
For a complex situation (previous property ownership, a separation, a trust or shared ownership), a lawyer or a licensed financial adviser can look at your circumstances. The FMA’s guide to getting financial advice and sorted.org.nz are starting points.