If you are using Bay Financial Partners to apply for a KiwiSaver Homestart Grant you'll already know this. If not and you are having problems you may be interested to know the following.
More than 1,600 people have been successful in securing a KiwiSaver HomeStart grant to purchase their first home, since the new scheme was introduced on 1 April 2015.
Housing New Zealand, receive around 500 applications a week.
Housing New Zealand have found that some of the applications they receive aren't fully completed or don't have the correct documentation attached to them. This can cause delays, which causes unwanted stress or makes hitting the processing timeframes much harder.
To avoid these delays, here are some points to check before submitting an application:
- Ensure that the income certificates are for the last 12 months, not the last financial year
- Ensure that income certificates are provided for all named/intended purchasers
- Provide a detailed KiwiSaver contribution statement that covers the period you have contributed to KiwiSaver
- Provide evidence of a deposit of at least 10% of the purchase price, if there is already a signed agreement for sale and purchase
- Ensure the correct application has been completed
Remember that Housing New Zeaeland require a minimum of four weeks/20 working days from receiving an application through to paying out the KiwiSaver HomeStart grant.
Also, please ensure that if you're applying for the grant to meet the financial conditions of your agreement for sale and purchases, you allow at least 10 working days prior to the unconditional date.
For more information see www.kiwisaver-homestart.co.nz.
- Last updated on .