SHARED HOME OWNERSHIP

The Shared Home Ownership scheme is one way that you may be able to own your own home. Shared Home Ownership allows you to purchase a home from Housing Authority, with a Shared Start loan through Keystart, the Government’s lending agent.

You can purchase newly-built homes and off-the-plan properties offered by the Housing Authority across metropolitan and regional areas.

Some advantages of Shared Home Ownership:

• Low deposit of $2,000 or 2 per cent of the purchase price (whichever is greater) for first home buyers
• Deposit of $2,000 or 2 per cent of the purchase price plus stamp duty and fees for non-first home buyers
• No savings history required
• No lenders mortgage insurance
• No monthly account keeping fees
• First home buyers can use the First Home Owners Grant towards the deposit and apply for a grant from the Home Buyers Assistance Account.