Even so, many thousands of Kiwis have used their KiwiSaver funds to help buy their first home. There are two main ways KiwiSaver can be used to buy first homes. Sadly some Kiwis make mistakes when applying for one of these schemes and end up without the KiwiSaver money they were expecting. ■You can't use KiwiSaver money to buy an investment property. Anyone who plans to use their KiwiSaver money for their first home should check out hnzc.co.nz to see the latest rules and to also sign up a mortgage broker and lawyer early.

Source: New Zealand Herald November 24, 2016 21:31 UTC