Your KiwiSaver funds... more flexible that you might think

By now, most first home buyers are aware that they can use a portion of their KiwiSaver balance to contribute towards the equity in their house purchase.

What isn't commonly known is that it's possible to have a home owned by a trust, or partly owned by a trust, or a home owned in part shares by other people (parents, for example) and you can still use your KiwiSaver funds to contribute towards the purchase.

This flexibility comes with certain conditions, the usual one being that the person using their KiwiSaver must use the property as their primary place of residence.

If you want to buy your first home using a trust as your ownership structure, or want an ownership structure that allows you to be flexible with parents or other sources of cash which contribute towards the equity position, it's well worth talking with us and your KiwiSaver provider to see if this will work for you.