What kind of home can I buy?
You can use your KiwiSaver funds to purchase a freehold, leasehold or stratum estate (often related to units or apartments). This could be an existing house, a vacant residential section on which a new dwelling will be built, an apartment off the plans, or even a house and land package. This includes the purchase of land you plan to build your first home on. It's important to understand that your first home purchase withdrawal can be put towards the land purchase only, and not used for other things such as building materials or contractors.
Things you should know.
BT Funds Management (NZ) Limited is the scheme provider and Westpac New Zealand Limited is the distributor, of the Westpac KiwiSaver Scheme (Scheme).
The information above is subject to changes in government policy and law, and changes to the Scheme, from time to time.
Investments made in the Scheme do not represent bank deposits or other liabilities of Westpac Banking Corporation ABN 33 007 457 141, Westpac New Zealand Limited or other members of the Westpac group of companies. They are subject to investment and other risks, including possible delays in payment of withdrawal amounts in some circumstances, and loss of investment value, including principal invested. None of BT Funds Management (NZ) Limited (as manager), any member of the Westpac group of companies, The New Zealand Guardian Trust Company Limited, or any director or nominee of any of those entities, or any other person guarantees the Scheme's performance, returns or repayment of capital.
For a copy of the Product Disclosure Statement or more information about the Scheme, contact any Westpac branch or call 0508 972 254 or from overseas +64 9 375 9978 (international toll charges apply). You can also download the Product Disclosure Statement.