What is a ‘Kiwisaver First Home Withdrawal Estimate Letter’, and how do I get one?
We must get the confirmation from your Kiwisaver provider in the form of a letter they give to us.
Please ask them for a ‘Kiwisaver First Home Withdrawal Estimate Letter’.
This usually takes no extra forms or information, beyond identifying yourself to them. They should then provide this letter within 1 business day or so.
Note: If the provider gives you a form to complete that includes solicitor’s details required or a form to be signed by a justice of the peace/solicitor, then it is likely that the provider has suggested the wrong form to you. These are for a later stage, once we are approved and find the property we want to buy.
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Please note that for the purposes of confirming your Kiwisaver to be used towards your first home, we cannot use
Bank/Kiwisaver statements
Verbal confirmation
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Below is a sample text of what this might read like.
First home withdrawal
Thank you for your enquiry about applying for a first home withdrawal from your KiwiSaver Scheme account.
This letter provides information you will find useful should you choose to apply for a first home withdrawal payment from your KiwiSaver scheme.
You are entitled to withdraw the total amount in your KiwiSaver account less $1000 and any amount transferred from an Australian complying superannuation fund. An estimate of your eligible withdrawal amount is provided below.
Important: Due to the process and multiple parties involved, the application has a 10 business day turnaround period after receipt of the application by the Administrator. Please take this in account when you commit to any deposit or settlement payment date.Estimated eligible first home withdrawal amount at 23 November 2023 - $12,244.56
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If you do not know who your KiwiSaver scheme provider is, you can find it in your myIR account under the KiwiSaver section. Their contact details will be there too.
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