Are we able to use our kiwisaver to buy a house?

Question: Kia ora. Love the husband and i brought a house, my mum was the gaurantor for our loan, put this on our grandfathers land. We've paid off the loan. We have kiwisaver. Because we dont actually own a house just the building, it doesnt have a seperate title, are we able to use our kiwisaver to buy a house? That would be legally ours? I was thinking we could buy a house and live in it and rent the one on our grandfathers house out?

Answer: That's such an interesting question! It seems you would be eligible to use your KiwiSaver for a first home purchase you intend to live in if your name is not on the title of your grandfather's property and hasn't been on any other title before.  Obviously you need to meet the usual KiwiSaver criteria and you should make sure you get confirmation from your KiwiSaver scheme provider, and seek legal advice.

Ka hiahia pea koe ki

Similar blogs