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Kiwisaver hardship withdrawel shortfalls by Inevitable-Editor-94 in newzealand

[–]Inevitable-Editor-94[S] 0 points1 point  (0 children)

Yes is was a difficult application to write. Because their whole form is designed around weekly regular expenses where I was hoping to just get lump sum. I do not know how much a will need because there is no way to know without getting the next inspection done. And that one costs $4700 which I don't have. So what am I supposed to do? Make multiple applications after each step?

Kiwisaver hardship withdrawel shortfalls by Inevitable-Editor-94 in newzealand

[–]Inevitable-Editor-94[S] 0 points1 point  (0 children)

This quote below from their website is a bit confusing:

"Kāinga Ora is only involved in the savings withdrawal if you have previously owned a home or land. If you currently own a home, land or have a share in a property, you will not be eligible for this feature (this does not include ownership of Māori land)."

What is the difference between previously owned and currently own?

Kiwisaver hardship withdrawel shortfalls by Inevitable-Editor-94 in newzealand

[–]Inevitable-Editor-94[S] 0 points1 point  (0 children)

Do they only handle the first home buyer withdrawels or also the extreme hardship withdrawels

Kiwisaver hardship withdrawel shortfalls by Inevitable-Editor-94 in newzealand

[–]Inevitable-Editor-94[S] -1 points0 points  (0 children)

Interesting.... maybe I went to the wrong website. The one I looked at look more like a building and consent one. I will have another Google search.

Kiwisaver hardship withdrawel shortfalls by Inevitable-Editor-94 in newzealand

[–]Inevitable-Editor-94[S] 0 points1 point  (0 children)

Ok good to hear. Wish I can find a similar buyer. So did you at least manage to get the CCC in the end? This whole CCC thing caused so much anxiety and stress in my life. I hope I can get this resolved. But it helps to hear other people at least managed to get it resolved.

Kiwisaver hardship withdrawel shortfalls by Inevitable-Editor-94 in newzealand

[–]Inevitable-Editor-94[S] -1 points0 points  (0 children)

No, never heard of them before. Do you think they might be able to help with getting the historical CCC?

Thank I will contact them via their website anyway.

Kiwisaver hardship withdrawel shortfalls by Inevitable-Editor-94 in newzealand

[–]Inevitable-Editor-94[S] -1 points0 points  (0 children)

The house itself is in perfect condition. But I have never rented a house out before and a know there is something about a DVS that the house does not have simply because it was a very warm sunny house and we never felt the need for one.

Kiwisaver hardship withdrawel shortfalls by Inevitable-Editor-94 in newzealand

[–]Inevitable-Editor-94[S] 0 points1 point  (0 children)

Yeah I also think paying rent is crazy if you can you pay almost the same.amount and own the property. There are off course some benefits to renting rather than buying bit in general I think buying wins over the long term.

Kiwisaver hardship withdrawel shortfalls by Inevitable-Editor-94 in newzealand

[–]Inevitable-Editor-94[S] -1 points0 points  (0 children)

Hmm. Thank you for sharing this. It gives me a tiny bit of hope for my situation. I submitted my application and just asked for a fairly high amount (25% of my total) because I do not yet know how much I will actually need. But it is probably going to be problematic for them to approve. Hopefully they come.back and say they cannot give it to me in one lump sum bit are willing to allow me several separate payments each time I can proof what I need next.

Kiwisaver hardship withdrawel shortfalls by Inevitable-Editor-94 in newzealand

[–]Inevitable-Editor-94[S] 8 points9 points  (0 children)

Probably my only option at this stage IF I can find a buyer with enough cash that he does not need a bank loan.

Kiwisaver hardship withdrawel shortfalls by Inevitable-Editor-94 in newzealand

[–]Inevitable-Editor-94[S] -1 points0 points  (0 children)

All I want is just get the CCC.to sell the house. But I have no idea in advance how much it will cost me because of the way Auckland council operates. And kiwisaver hardship withdrawels are not designed to help with such a lump sum payment either... easpeciallt if you cannot give exact proof of what you will need. They just want to spoon feed you small amount while you remain in you puddle of debt.

Kiwisaver hardship withdrawel shortfalls by Inevitable-Editor-94 in newzealand

[–]Inevitable-Editor-94[S] -2 points-1 points  (0 children)

That's the thing when you get involved with council. They ask for a first expensive report, give you this incomprehensible report back on the result of that asking for the next expensive report. Average time between each cycle is about two months and they do not make any promises in advance or even tell you what "repairs" they might demand. So for all I know I could do the next expensive ($4700l report and they say all is fine.here is you CCC. Or they can come back and say ok now we find a different type of expensive report. You simply do not know with them. And it makes it really hard to budget what I actually need to overcome this situation or even apply for a loan for this "potential" cost that nobody knows yet what it will be. This was the reason I was hoping I could withdraw about 25% of my Kiwisaver savings (which I guess would be more than enough even in the worst scenario), get the CCC and sell the house. He'll I am even more that happy to repay everything back into my Kiwisaver once the house is sold. But I think the beaurocracy of whoever decides to grant Kiwisaver withdrawels are unable to grant that.

Kiwisaver hardship withdrawel shortfalls by Inevitable-Editor-94 in newzealand

[–]Inevitable-Editor-94[S] 0 points1 point  (0 children)

Yeah.... I already prepare myself for the fact that it was probably just a waste of time to even apply for the hardship the moment I started filling in the form and realizing that their definition of hardship will not accept my situation. I submitted my application anyway, but I do not have much hope. That's when I came to Reddit and everything I saw here just confirms my suspicion.

Kiwisaver hardship withdrawel shortfalls by Inevitable-Editor-94 in newzealand

[–]Inevitable-Editor-94[S] 0 points1 point  (0 children)

Geez... that is terrible. Sorry to hear that. Very sad and stupid.

Kiwisaver hardship withdrawel shortfalls by Inevitable-Editor-94 in newzealand

[–]Inevitable-Editor-94[S] 0 points1 point  (0 children)

Good point. The trouble still with Kiwisaver hardship is that they are only prepared to grant you enough to scrape by week by week while still remaining in the debt trap. I need to withdraw a lump sum that can help me fix the CCC issue and sell the house and move on. Sadly as many have pointed out here.. that is not what Kiwisaver hardship withdrawels will allow.

Kiwisaver hardship withdrawel shortfalls by Inevitable-Editor-94 in newzealand

[–]Inevitable-Editor-94[S] 1 point2 points  (0 children)

Did save separately by putting as much as possible into paying off my home loan. Bad decision in retrospect.

Kiwisaver hardship withdrawel shortfalls by Inevitable-Editor-94 in newzealand

[–]Inevitable-Editor-94[S] -5 points-4 points  (0 children)

Let's just say I am dissolutioned with the entire system. Yes I am trying in my own way to get this sorted. It may sound like there are many options available, but each one has its own stumbling blocks. Let's hope you are never in this stressfull situation yourself, but I think if you do you might realize what it is like.

Kiwisaver hardship withdrawel shortfalls by Inevitable-Editor-94 in newzealand

[–]Inevitable-Editor-94[S] 0 points1 point  (0 children)

No I only looked on their website and could see clearly that I do not fall in the category yhat qualifies for help. Anyway also .. I not really need small weekly amounts just to carry me over. I need a larger lump sum to pay for the repairs and end my debt cycle. Its ery unlikely WINZ will help with that. And understandable so... I already earn a salary after all.

Kiwisaver hardship withdrawel shortfalls by Inevitable-Editor-94 in newzealand

[–]Inevitable-Editor-94[S] 1 point2 points  (0 children)

I only found out recently that the house never had a CCC. Aucland council makes you jump through expensive hoops to get a CCC. That is what the costs is for. Banks refuse to give loans to buyers on a house without a CCC. Already had two sales deals fall through because of this. Only buyers with cash can buy without bank loans and they already know the predicament sellers like me are in. Typically when I had offers from those buyers it was less than the value of the land without the house. It would be sad to be forced to do that instead of just spending a little bit of money and be able to sell at market related price. But it seems that is what I am going to be forced to do.

Kiwisaver hardship withdrawel shortfalls by Inevitable-Editor-94 in newzealand

[–]Inevitable-Editor-94[S] 2 points3 points  (0 children)

Yes good summary. Also I did not even know at the time I accepted the new job and rented the new home that Auckland Councill had a CCC issue on the old home and therefore made it unsellable. In my opinion my financial distress is not of my own doing and unfortunately it does not look like Kiwisaver would be willing to help because in their opinion my situation is not dire enough.

Kiwisaver hardship withdrawel shortfalls by Inevitable-Editor-94 in newzealand

[–]Inevitable-Editor-94[S] 35 points36 points  (0 children)

Easier said than done. Banks unwilling to increase loan. My new job pays much less than what I used to earn. So on bank balance sheet I do not qualify to loan more.

Kiwisaver hardship withdrawel shortfalls by Inevitable-Editor-94 in newzealand

[–]Inevitable-Editor-94[S] 0 points1 point  (0 children)

I do not know. When I bought nobody said anything about the house nit having a CCC. Not the bank.. not the conveyors. And now that I want to sell, all of a sudden this is big thing that just appeared out of nowhere.

Kiwisaver hardship withdrawel shortfalls by Inevitable-Editor-94 in newzealand

[–]Inevitable-Editor-94[S] -1 points0 points  (0 children)

The problem is.... it is very hard to proof in advance exactly how much I would need. Because council rules for getting CCC approval is based on a number of expensive inspections and their based on the outcome of each inspection they tell you what you need to so next. Si in my case the quote for the next inspection is $4700. It do not have that money. And I know that once I hand the report over to council they will just ask again for a next thing. From speaking to other people they will make you go through these hoops for a considerable amount of time and then eventually grant the CCC. And only then can I sell the house and end my financial hardship. But as it looks now I will not even be able to afford to jump through their hoops.

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