You must meet the following criteria to be eligible for the What’s My Grant scheme:
18 years or over.
Currently do not own a home or land.
Have not received the KiwiSaver HomeStart grant, or its predecessor, the KiwiSaver deposit subsidy before.
A member of a KiwiSaver scheme, complying fund or exempt employer scheme
Have contributed at least the minimum allowable percentage of your total income to a KiwiSaver scheme, complying fund or exempt employer scheme for at least three years.
Be the sole buyer and have earned between $40,000 & $85,000, or two buyers who have earned a combined income of between $70,000 & $130,000 (before tax), in the last 12 months.
Have a good credit rating.
We’re pretty awesome, but we’re not saints. We’re looking for a win-win. We will be contributing some serious cash towards the purchase of your new home - That’s your win. Our win is that we can sell our properties quickly, which gives us the ability to buy and repair more houses. We also get to avoid using those over-priced real estate agents!
Our aim is to help you satisfy the criteria for a HomeStart mortgage. For that, you’ll need a minimum 10% deposit. To do this, we work with registered mortgage brokers, who will take into account your Kiwisaver HomeStart grant, and What’s My Grant. You will be entitled to a maximum of 10% of the market value of the house, capped at $30,000.
It is best to talk to IRD direct with your individual circumstances, to save any nasty surprises. Please see the link below as an indication whether you need to contact IRD. https://www.ird.govt.nz/resources/2/6/2637b6804ba3cf52874bbf9ef8e4b077/ir249.pdf
Yes, definitely. All houses bought through the What’s My Grant scheme will be independently valued by registered valuers. Your purchase price and grant will be based on that valuation.
To qualify, you must meet the eligibility criteria (see FAQ 1), and have completed the online application form (insert link to Typeform here).
As a new property becomes available under the scheme, we will identify all those for whom the property may be suitable (based on their desired property criteria).
5 of those suitable candidates will be chosen at random, and shown the property available for purchase. They’ll be given a priority ranking based on the order they are chosen.
If neither of the 5 candidates wish to purchase the property, it’ll be put to the open market at full price.
No, this offer is only for What’s My Offer homes, which are valued under $500,000. We’re looking for a win-win. We will be contributing some serious cash towards the purchase of your new home - That’s your win. Our win is that we can sell our properties quickly, which gives us the ability to buy and repair more houses. We also get to avoid using those over-priced real estate agents! You will be shown a maximum of 3 properties.
Yes, that's the plan. Ultimately it'll be a decision for your bank though. We suggest talking to us before making a mortgage application.
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