Second Chance KiwiSaver

Discover the untapped potential of Second Chance KiwiSaver – a lifeline for Kiwis who've previously used their KiwiSaver for a home purchase but had to sell due to circumstances beyond their control. We dive deep into how this program works and who qualifies, with a focus on real-world application.

The heart of this episode is an inspiring success story about a couple in their late fifties who had given up hope of ever owning a home again after bankruptcy seven years ago. Despite their challenges, they continued contributing to their KiwiSaver accounts, unknowingly building a pathway back to homeownership. Their journey highlights that it's never too late to start over, and financial setbacks don't have to be permanent.

We walk through the application process step-by-step, explaining how Kāinga Ora assesses eligibility and provides approval letters that remain valid for six months. Learn what documentation you'll need, how to approach your KiwiSaver provider, and what to expect when working with mortgage advisors after approval. This information is crucial for anyone who has faced divorce, bankruptcy, or financial hardship that resulted in selling their first home.

The key takeaway? Don't give up on homeownership if you've had setbacks. Second Chance KiwiSaver might be your path forward, and continuing to contribute to your KiwiSaver is vital regardless of your current housing situation. Share this episode with anyone you know who might benefit from this lesser-known opportunity – you might just change someone's life.

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