Kiwisaver Home start grant query

[Rhonny_g]

Hi there, just a quick question regarding the Kiwisaver Home start grant..
In order to become eligible for the grant, you must be contributing the minimum amount of your salary per year, for at least 3 years. Say I was only working part time whilst studying for a couple of years, but still contributing the minimum towards Kiwisaver, would it still count as a full years contribution?

Thanks,
Rhonny

[hawkeye]

Have a look at the eligibility checklist on the Homestart website. It says non earner have to have saved at least 3% of the minimum wage so I would think that if you have been saving at least that much you would be ok. It doesn’t say if it has to be regular though so if you were just working in blocks over holidays with nothing in between I am not sure.

LAJ

[Kangaroo_Lover]

Hi Ronny,

A good idea is get in touch with a mortgage broker who deals a lot with 1st home buyers. One person who's helped a few of my mates is Bruce. I'm not sure if i'm allowed to leave phone numbers here, but we'll find out i guess. 021 661 114. He's a great honest guy.

Cheers

[Rhonny_g]

Hi Ronny,

A good idea is get in touch with a mortgage broker who deals a lot with 1st home buyers. One person who's helped a few of my mates is Bruce. He's a great honest guy.

Cheers

Thanks Kangaroo_lover, I will do that.
I've heard both positive and negative things about dealing with mortgage brokers when purchasing a house, many people suggest dealing with the bank directly. What would you recommend and why?

Thanks,
Rhonny

[kiwidag]

Thanks Kangaroo_lover, I will do that.
I've heard both positive and negative things about dealing with mortgage brokers when purchasing a house, many people suggest dealing with the bank directly. What would you recommend and why?

Thanks,
Rhonny

Me too... would appreciate answer to same question... thanks

[Kangaroo_Lover]

There can be some advantages to using a bank. For example some believe you can get cheaper rates by going to a bank directly, but I haven't really found that to be true.

But if you're a first time buyer or you don't have a lot of experience with property, I highly recommend using a mortgage broker. Banks can be extremely tricky, and you don't know what to look out for if you're dealing with them for the first time. Pick a good broker and they'll help you set out your finances in a way that increases the chance that you'll be approved, or get a better rate. If you don't get it right first time, it's much harder to re-apply a second time, as your credit score goes down.

If you're an investor, then even more reason you should go to a mortgage broker, but he must be an investor-knowledgeable broker. Don't use 1st home buyer brokers, as they lack expertise in investing finance.

[kiwidag]

Thank you RooLover