No Deposit And Low Deposit
What Is a No-Deposit Home Loan?
A no-deposit home loan is one where you are approved for 100% of the property value, meaning you don’t have to pay a deposit. With most lenders, you will require a deposit of at least 5% for most loans; however, there are ways to avoid paying a deposit.
These options are available to you when you don’t have a deposit.
Family Guarantee Loans
Saving the deposit for your first home can be difficult and take a number of years. One way to potentially get into your own home sooner is by having a family member act as a guarantor.
Many lenders allow parents or someone close to you, to use the equity in their property as security for your home loan, in lieu of you saving the full deposit required. This person is known as a guarantor.
How Does It Work?
With a family pledge guarantee, the guarantor/s can provide their home as additional security for your loan, so you don’t need to save the full deposit required by the lender.
The Easiest Way To Explain This Is To Give You An Example.
If you were looking to buy a house valued at $850,000, you would need to save a minimum 5% deposit or $42.500. To avoid paying mortgage insurance you need a deposit of at least 20% of the purchase price of $850,000 ($170,000). That’s another $127,500 you would need to save!
Now, your guarantor/s have a home valued at $1,200,000 and are willing to help you out. They offer you $120,000, but not as cash, as security for the loan. This means the lender will take the offered security of $120,000 in your parents’ home so you don’t have to pay the mortgage insurance premium and don’t have to save that extra money!
Once the equity in your home reaches 20%, you and your parents can apply to the lender to release the guarantee.
The guarantor’s security (i.e. mum and dad’s home) does not cover the entire loan amount. Just a portion of it in lieu of you having to save the full deposit. The guarantee is limited to this amount.
How Is It Different To Being a Co-Borrower?
A co-borrower on the loan is someone who is responsible for the entire loan until the debt is repaid in full, whereas a guarantor is linked to the loan by a guarantee and is responsible for the amount specified in the guarantee.
A guarantor is linked to the loan by a guarantee. This guarantee can be released, and the guarantor’s responsibility will cease without the loan being repaid in full.
Who Can Be a Guarantor?
Guarantors are generally limited to immediate family members. Normally, this would be a parent, but it can include siblings and grandparents. There are conditions around this: for example your parents or the person acting as guarantor must have the equity available in their property. If we use the above example, if your parents’ home were valued at $1,200,000 but they had a mortgage of $1,000,000, then the equity would not be sufficient to offer a guarantee to you.
Benefits For First Home Buyers
The main benefit of having a family pledge guarantee is that it may be able to help you avoid Lenders Mortgage Insurance (LMI), or considerably reduce the premium that you would otherwise need to pay. This is typically a one-off fee paid by the borrower to the lender to protect the lender against financial loss should you be unable to meet your mortgage repayments. Lenders typically require borrowers to pay LMI on loans where the borrower has a deposit of less than 20% of the property’s value.
For more information on LMI refer to our LMI fact sheet or speak to your mortgage broker.
It is important to remember that as the borrower, you will be responsible for your loan repayments and you’ll need to be able to service the entire loan with your income. You should always speak with your broker about ensuring you are comfortable that you can afford the loan repayments that will be required.
Other possible benefits of a guarantor home loan include:
- You may not have to save as much for a deposit
- You could get into the property market faster and more easily
- You can get the home you have fallen in love with and not have to settle for a cheaper alternative
While there are clearly some benefits to going guarantor, given it’s such a large financial commitment, it’s also worth weighing up the potential risks.
Considerations For Guarantors
While it may sound like a great option to getting you in to your first home quicker, there are always risks that you and the guarantor need to be comfortable with.
The main consideration for the guarantor is ultimately, they will be liable to cover the mortgage repayment and fees if you are unable to. It pays to consider how they would cope financially if the unexpected happens and have to make those repayments. Specifically, parents on the path to retirement could be financially compromised and at worst, they could risk losing their own home if you were unable to make the repayment.
Taking on the role of a guarantor is not something that should be taken lightly. Anyone considering being a guarantor for a property loan is advised to seek independent legal and financial advice before accepting the role. In fact, most lenders will insist on this, prior to accepting a guarantee.
Understand Your Obligations.
The last thing you want is to cause any family tensions, so fully consider whether this is the right option for you and the person you are asking to be guarantor. It’s very important that both you and your guarantor understand all of the conditions and obligations of a family guarantee before signing. For this reason, it is essential that guarantors seek legal advice before entering into any guarantee agreement.
More Information
Normal lending criteria and bank policy applies to guarantor loans, so you should discuss your borrowing eligibility with your mortgage broker. It’s important to remember this is only a guide to help you ask the right questions and highlight the important considerations.
Want to talk about your options?
Get in touch with the Sanford Finance team today on [email protected] or (02) 9095 6888
Home Equity Loans
A home equity loan allows you to borrow against the equity you’ve built up in your home.
Equity is the difference between the market value of your home and the outstanding balance on your mortgage.
Here’s how it works and how you can use it to buy a new home:
Using a Home Equity Loan To Buy a New Home
- Access to Funds: A home equity loan provides you with a lump sum of money that you can use as a down payment on a new home. This can be particularly useful if you’re looking to purchase an investment property or a second home.
- Bridge Financing: If you’re buying a new home before selling your current one, a home equity loan can act as bridge financing. This allows you to make a down payment on the new home while you wait for your current home to sell. For more on Bridging loans
- Avoid LMI: Using a home equity loan can help you avoid paying Lenders Mortgage Insurance (LMI) on your new home loan if the combined loan-to-value ratio remains within acceptable limits.
- Lower Interest Rates: Home equity loans often come with lower interest rates compared to other types of loans because they reduce the loan-to-value ratio and are therefore less risky for the lender.
- Tax Benefits: In some cases, the interest paid on a home equity loan may be tax-deductible, although this depends on current tax laws and your specific circumstances.
What Else Can I Use a Home Equity Loan For
Want Other common uses other than buying a home, Equity can also be used toward:
- Renovating your home.
- Debt Consolidation including Credit Cards, Personal Loans, and Tax Debt.
- Invest in Stocks, Shares, or Managed Funds.
- Buy or Invest in your Business.
- Purchase a new Car or Boat.
- Pay for a Holiday, Wedding or Medical Expenses.
In short, you can use a home equity loan for any purpose, all at home loan interest rates, which are often more affordable than other forms of credit.
Want to talk about your options?
Get in touch with the Sanford Finance team today on [email protected] or (02) 9095 6888
Low Deposit Home Loan Options
If you don’t qualify for a no-deposit home loan and you have savings, you may be eligible for a Low-Deposit home loans.
These options include:
- 5% deposit with First Home Guarantee Scheme
- 5% deposit with a Gift or Inheritance deposit
- 2% Shared Equity Home Buyer Scheme Limited Time
First Home Guarantee Scheme
The First Home Guarantee Scheme (FHBG) is designed to help buyers enter the property market with a smaller deposit.
This scheme allows eligible buyers to secure a mortgage with a deposit as low as 5%, with the government providing additional support to make up the difference. The First Home Owner Grant may also be used towards the purchase price, reducing the overall loan amount required and making homeownership more accessible for first-time buyers.
Eligibility Criteria:
To apply for the FHBG, home buyers must be:
- Applying as an individual or two joint applicants.
- An Australian citizen(s) or permanent resident(s)* at the time they enter the loan at least 18 years of age.
- Earning up to $125,000 for individuals or $200,000 for joint applicants, as shown on your latest Notice of Assessment (issued by the Australian Taxation Office).
- Intending to be owner-occupiers of the purchased property.
- First home buyers or previous homeowners who have not owned or had an interest in real property in Australia (this includes owning land only) in the past ten years.
The number of places in the FHBG is capped each year and limited to select lenders
If scheme places have been exhausted, but you are eligible, you can still submit a reservation request, and you will be added to the waitlist.
When and if a Scheme place becomes available, you will be advised.
Want to talk about your options?
Get in touch with the Sanford Finance team today on [email protected] or (02) 9095 6888
Gifted Deposit Home Loan
A gifted deposit, as the name suggests is a lump sum gift which you do not have to repay. As a rule of thumb, parents or close relatives are eligible to give you a gifted deposit. If the gift is coming from a distant relative or your extended family, most lenders will seek to understand your relationship before granting mortgage approval.
- Gift can be for 5% to 20% of the purchase price as a non-refundable gift.
- The lender will require a Letter or Stat Dec confirming the gift amount.
- Funds are not required to be transferred until settlement is ready.
Victorian Homebuyer Fund – expires 30/06/2025
What is the Victorian Homebuyer Fund?
The Victorian Homebuyer Fund (VHF) is an initiative by the Victorian Government to support eligible homebuyers in purchasing a property by contributing up to 25% of the purchase price in exchange for an equivalent share in the property. This scheme aims to help more Victorians achieve homeownership by reducing the financial barriers to entering the property market.
How does the Victorian Homebuyer Fund work?
For eligible participants, the Victorian Government will provide up to 25% of the purchase price for new or existing properties, allowing homebuyers to reduce their loan amount and monthly mortgage repayments. The Government’s share in the property is secured through a registered second mortgage.
Do participants pay rent to the government?
No, participants are not required to pay rent or interest to the Government while they remain eligible for the initiative. However, participants have the option to make voluntary payments to increase their equity in the property.
How do participants remain eligible for this scheme?
Participants must use the property as their principal place of residence and adhere to ongoing requirements, such as maintaining the property, keeping property insurance, and undergoing periodic reviews. They are also responsible for ongoing costs like council rates, body corporate fees, and utilities.
What happens if the property is sold?
When the property is sold, the Victorian Government will share in the gains or losses from the sale with the participant, based on the Government’s equity share in the property.
Who is eligible for this initiative?
The Victorian Homebuyer Fund is open to:
- Australian or New Zealand citizens, or permanent residents
- Be at least 18 years old at Settlement
- have saved the required minimum deposit (at least 5% or 3.5% for Aboriginal and Torres Strait Islander participants) of your property price
- earn $135,155 or less per annum for individuals (excluding single parents), or $216,245 or less per annum for single parents or joint applicants. This refers to your gross annual income
- occupy the purchased property as your principal place of residence
- be a natural person (that is, not an organisation, company, trust or other body or entity)
- not purchase your property from a vendor who is a related person
- not own an interest in any land in Australia or overseas at the time of purchase (including as trustee of a trust or beneficiary under a trust)
- not be a shareholder in any corporation (other than a public company) that owns any land in Australia or overseas
Price caps and locations
- The property must be valued at $950,000 or less in metropolitan Melbourne and Geelong, or $700,000 or less in regional Victoria.
- The purchase can be for an existing or new property provided that a certificate of occupancy has been issued prior to the date of the contract of sale. This means off-the-plan property purchases are not eligible.
Benefits of the Victorian Homebuyer Fund:
- Reduced loan amount and monthly mortgage repayments.
- Lower deposit requirement, making homeownership more accessible.
- The option to make voluntary payments to increase equity in the property.
- Eligibility for first home buyer programs and applicable concessions.
Want to talk about your options?
Get in touch with the Sanford Finance team today on [email protected] or (02) 9095 6888
Queensland: Pathways Shared Equity Loan
What is the Pathways Shared Equity Loan?
The Pathways Shared Equity Loan is a program initiated by the Queensland Government to support eligible homebuyers by contributing a portion of the property purchase price in exchange for an equivalent share in the property. This scheme aims to make homeownership more accessible by reducing the financial burden of buying a home.
How does the Pathways Shared Equity Loan work?
Under the Pathways Shared Equity Loan, the Queensland Government will contribute up to 40% of the purchase price for eligible properties. This reduces the amount the homebuyer needs to borrow, leading to lower monthly mortgage repayments. The Government’s share in the property is secured by a registered second mortgage.
Do participants pay rent to the government?
No, participants are not required to pay rent or interest to the Government while they remain eligible for the scheme. However, participants have the option to make voluntary payments to increase their ownership share in the property.
How do participants remain eligible for this scheme?
Participants must occupy the property as their principal place of residence and meet ongoing requirements, including property maintenance, property insurance, and periodic reviews. Participants are also responsible for ongoing property costs such as council rates, body corporate fees, and utilities.
What happens if the property is sold?
When the property is sold, the Queensland Government will share in the gains or losses from the sale with the participant, based on the Government’s equity share in the property.
Who is eligible for this initiative?
The Pathways Shared Equity Loan is open to:
- Queensland residents who are at least 18 years old.
The home must be:
- the one you’re currently renting
- available for purchase.
- the loan repayments are no more than 35% of your income, and you don’t pay rent on the department’s share of the home.
To be eligible for this loan, you must:
- be an existing public housing tenant
- be an Australian citizen or permanent resident of Australia
- not own or part-own another property
- be unable to afford to buy 100% of the home through a standard home loan
- have a good credit history
- have no other significant debts
- be able to afford the repayments without hardship
- intend to live in the home for the duration of the shared equity agreement
- not have an outstanding debt with the QLD government
Benefits of the Pathways Shared Equity Loan:
- Lower loan amount and reduced monthly mortgage repayments.
- Reduced deposit requirement, making homeownership more achievable.
- The option to make voluntary payments to increase ownership share.
- Eligibility for first home buyer programs and applicable concessions.
The Pathways Shared Equity Loan offers a practical and supportive pathway to homeownership, helping Queensland residents achieve their dream of owning a home with reduced financial stress.
Want to talk about your options?
Get in touch with the Sanford Finance team today on [email protected] or (02) 9095 6888
ACT: Shared Equity Scheme
What is the ACT Shared Equity Scheme?
The Shared Equity Scheme is aimed at providing an alternative home ownership opportunity to public housing tenants. It has been made possible by Housing ACT by partnering with IMB.
How does the ACT Shared Equity Scheme work?
Under this scheme, IMB and Housing ACT have entered into an agreement. To borrow the money to make the upfront payment of 70% of the purchase price, you will enter into a loan agreement with IMB.
You will also need to enter into a loan agreement with Housing ACT to pay the remaining 30% of its share. You will be required to make at least two lump sum payments to Housing ACT:
- 5 years after Settlement, 15% of Housing ACT’S Equity of the property.
- 15 years after Settlement, remainder of Housing ACT’S Equity.
Do participants pay rent to the government?
No, participants do not pay rent or interest on the government’s share of the property. However, they have the option to make voluntary payments to increase their ownership share over time.
How do participants remain eligible for this scheme?
Participants must:
- Occupy the property as their principal place of residence.
- Maintain the property and keep it insured.
- Cover all ongoing property costs, including council rates, utilities, and any body corporate fees.
What happens if the property is sold?
When the property is sold, the ACT Government will share in the gains or losses from the sale, proportional to their share in the property.
Who is eligible for this initiative?
The ACT Shared Equity Scheme is open to:
- have been a continuous public housing tenant for a minimum of 3 years
- are a current head tenant and are occupying the dwelling you are applying to purchase
- have no rental arrears within the last 12 months or legal action pending regarding tenancy matters
Additional eligibility criteria include:
Not all properties are eligible for the ACT Shared Equity Scheme. There are several reasons why a property may not be approved for sale, such as
- not being separately titled, being built less than ten years ago
- being located in a suburb where Housing ACT owns less than 5% of properties
- not having a suitable replacement property
- having recently undergone expensive upgrades or maintenance
not aligning with government priorities.
The scheme will also evaluate the property’s availability based on factors such as
- the age of the property
- the size of the property, including the number of bedrooms
- location/zoning of the property
- level of public housing ownership in the suburb
- availability of replacement properties
- development potential of the property
What happens if the property is sold?
When the property is sold, the ACT Government will share in the gains or losses from the sale, proportional to their share in the property.
Do participants pay rent to the government?
No, you will be the full owner of the property and will no longer need to pay rent.
Benefits of the ACT Shared Equity Scheme:
- Reduced loan amount and lower monthly mortgage repayments.
- Lower deposit requirement, making it easier to enter the property market.
- The option to gradually increase ownership share by making voluntary payments.
- Eligibility for first home buyer grants and applicable concessions.
The ACT Shared Equity Scheme offers a valuable opportunity for aspiring homeowners in the ACT, providing financial support and a clear pathway to achieving homeownership.
Want to talk about your options?
Get in touch with the Sanford Finance team today on [email protected] or (02) 9095 6888
South Australia: HomeStart Finance Shared Equity Option
What is the HomeStart Finance Shared Equity Option?
The HomeStart Finance Shared Equity Option is a program by the South Australian Government designed to help eligible homebuyers by contributing a portion of the property purchase price in exchange for an equivalent share in the property. This initiative aims to make homeownership more accessible by reducing the financial burden on homebuyers.
How does the HomeStart Finance Shared Equity Option work?
Under this scheme, HomeStart Finance will contribute between 5% – 25% of the purchase price or property valuation, whichever is lower, up to a maximum $200,000. This reduces the amount the homebuyer needs to borrow, leading to lower monthly mortgage repayments. The Government’s share in the property is secured by a registered first mortgage.
Do participants pay rent to the government?
No, participants are not required to pay rent or interest to the Government while they remain eligible for the scheme. However, participants can make voluntary payments to increase their ownership share in the property over time.
How do participants remain eligible for this scheme?
Participants must occupy the property as their principal place of residence and meet ongoing requirements, including property maintenance, property insurance, and periodic reviews. Participants are also responsible for ongoing property costs such as council rates, body corporate fees, and utilities.
What happens if the property is sold?
When the property is sold, HomeStart Finance will share in the gains or losses from the sale with the participant, based on the Government’s equity share in the property.
Who is eligible for this initiative?
The HomeStart Finance Shared Equity Option is open to South Australian residents who;
- are at least 18 years old.
- meet the requirements of a HomeStart primary loan
- have a net household income of less than $100,000
- buy an established property or build a home for you to live in
Additional eligibility criteria include:
- A minimum deposit requirement, which may be as low as 5% of the property purchase price.
- The property must be within the specified price limits set by HomeStart Finance.
- The combined total of all loans must not exceed $750,000 (i.e. Primary Loan plus HomeStart Equity Loan)
- Participants must not currently own an interest in any property in Australia.
- Maximum retained savings: $25,000
What happens if the property is sold?
When the property is sold, HomeStart Finance will share in the gains or losses from the sale with the participant, based on the Government’s equity share in the property.
Do participants pay rent to the government?
No, participants are not required to pay rent or interest to the Government while they remain eligible for the scheme. However, participants can make voluntary payments to increase their ownership share in the property over time.
Benefits of the HomeStart Finance Shared Equity Option:
- Reduced loan amount and lower monthly mortgage repayments.
- Lower deposit requirement, making homeownership more attainable.
- No interest is payable on the Shared Equity Option. Instead, HomeStart will share in the gain or loss in property value when you sell your home.
- The option to make voluntary payments to increase ownership share.
The HomeStart Finance Shared Equity Option offers a supportive pathway to homeownership, helping South Australian residents achieve their dream of owning a home with reduced financial stress.
Want to talk about your options?
Get in touch with the Sanford Finance team today on [email protected] or (02) 9095 6888
Western Australia: Shared Home Ownership
What is the Shared Home Ownership Scheme?
The Shared Home Ownership Scheme, facilitated by Keystart and the Western Australian Government, aims to help eligible homebuyers purchase a property by sharing the cost of the home. This initiative makes homeownership more affordable and accessible, especially for those who may struggle to meet the full purchase price on their own.
How does the Shared Home Ownership Scheme work?
Under this scheme, Keystart will co-own the property with the homebuyer, contributing up to 30% of the purchase price. This significantly reduces the loan amount needed by the homebuyer, resulting in lower monthly mortgage repayments. The government’s share in the property is secured by a registered second mortgage.
- Flexible shared ownership
With a flexible shared ownership loan, you can refinance or purchase more shares (percentage shares) in your property if you are in a financial position to do so.
- Fixed shared ownership
With a fixed shared ownership loan, the percentage share of the property that you purchase will always remain the same. You are not able to purchase any further shares of your home or refinance to another lender.
Do participants pay rent to the government?
No, participants do not pay rent or interest on the government’s share of the property. However, they have the option to make voluntary payments to buy out a larger share of the property over time.
How do participants remain eligible for this scheme?
Participants must:
- Occupy the property as their principal place of residence.
- Maintain the property and keep it insured.
- Cover all ongoing property costs, including council rates, utilities, and any body corporate fees.
What happens if the property is sold?
When the property is sold, the Western Australian Government will share in the gains or losses from the sale, proportional to their share in the property.
Who is eligible for this initiative?
The Shared Home Ownership Scheme is open to:
- Western Australian residents who are at least 18 years old.
- Individuals earning up to $70,000 per annum and couples / families with a combined annual income up to $90,000
- Applicants who have a minimum deposit of at least 2% of the purchase price.
Additional eligibility criteria include:
- The property must be within the price limits set by Keystart.
- Applicants must not own any other property at the time of purchase.
What happens if the property is sold?
When the property is sold, the Western Australian Government will share in the gains or losses from the sale, proportional to their share in the property.
Under Fixed shared ownership, if you decide to sell your property, it must be sold back to the Housing Authority for the valuation price. This enables the Housing Authority to retain properties in key locations within the Perth Metro area.
The real plus with this type of loan is that the Housing Authority will always be there to buy your share back from you at its valued price. This reduces the selling time and you won’t need to pay marketing fees, property listing fees or commission fees to a real estate agent as you would with a traditional house sale.
An increase in equity will be beneficial to you if you choose to sell the property in the future. You can use the equity that has built up in your home loan to assist you in purchasing another home in the future.
Do participants pay rent to the government?
No, participants do not pay rent or interest on the government’s share of the property. However, they have the option to make voluntary payments to buy out a larger share of the property over time under the Flexible Shared Ownership
Benefits of the Shared Home Ownership Scheme:
- Reduced loan amount and lower monthly mortgage repayments.
- Lower deposit requirement, making it easier to enter the property market.
- The option to gradually increase ownership share by making voluntary payments.
- Eligibility for first home buyer grants and applicable concessions.
The Shared Home Ownership Scheme offers a practical solution for Western Australians aspiring to own a home, providing financial support and a pathway to achieving homeownership. Want to talk about your options?
Get in touch with the Sanford Finance team today on [email protected] or (02) 9095 6888
Tasmania: MyHome Shared Equity Scheme
What is the MyHome Shared Equity Scheme?
The MyHome Shared Equity Scheme is an initiative by the Tasmanian Government aimed at helping eligible homebuyers achieve homeownership by sharing the cost of purchasing a property. This program makes buying a home more affordable and accessible for those who may struggle to secure the full purchase price on their own.
How does the MyHome Shared Equity Scheme work?
Under this scheme, the Director of Housing will co-own the property with the homebuyer, contributing up to 30% of the purchase price.
- a maximum $300,000 or 40% (whichever is the lesser amount) of the purchase price for new homes (never been lived in), construction on your own land, or house & land packages.
- A maximum $150,000 or 30% (whichever is the lesser amount) of the purchase price for established homes.
This significantly reduces the loan amount needed by the homebuyer, resulting in lower monthly mortgage repayments. The government’s share in the property is secured by a registered second mortgage.
Do participants pay rent to the government?
No, participants do not pay rent or interest on the government’s share of the property. However, they have the option to make voluntary payments to increase their ownership share over time.
How do participants remain eligible for this scheme?
The MyHome Shared Equity Scheme is open to:
- Australian citizens or permanent residents who reside in Tasmania and n residents who are at least 18 years old.
- Individuals and families with gross household incomes within specified limits. https://www.homestasmania.com.au/Buying-a-Home/eligibility
- Be under financial asset limits i.e. less than $116,606; including cash, savings, lump sum payments excluding compensation payments, net fixed assets of a business, funds received from superannuation, and shares, bonds and investments. Your normal household assets are not included unless they are luxury items.
- Not be an undischarged bankrupt or discharged from bankruptcy within three years before the date of the application.
- Not owe any money to Homes Tasmania.
- Not have previously received help under HomeShare, Streets Ahead or Home Ownership Assistance Program (HOAP).
- Applicants who have a minimum deposit of at least 2% of the purchase price.
- if you are eligible for first home owner assistance, you can use this towards your deposit
Additional eligibility criteria include:
- The property must may be subject to within the price limits set by the scheme:
- Established homes are subject to a price cap of $750,000
- New builds and home construction are not subject to a price cap.
- Applicants must not own any other property at the time of purchase. (you may own land that you want to build your home on with the assistance of MyHome)
- Applicants must pay out Homes Tasmania’s share within 30 years.
What happens if the property is sold?
When the property is sold, the Tasmanian Government will share in the gains or losses from the sale, proportional to their share in the property.
Benefits of the MyHome Shared Equity Scheme:
- Reduced loan amount and lower monthly mortgage repayments.
- Lower deposit requirement, making it easier to enter the property market.
- The option to gradually increase ownership share by making voluntary payments.
- Eligibility for first home buyer grants and applicable concessions.
Do participants pay rent to the government?
No, participants do not pay rent or interest on the government’s share of the property. However, they have the option to make voluntary payments to increase their ownership share over time.
What happens if the property is sold?
When the property is sold, the Tasmanian Government will share in the gains or losses from the sale, proportional to their share in the property.
The MyHome Shared Equity Scheme offers a practical solution for Tasmanians aspiring to own a home, providing financial support and a pathway to achieving homeownership.
Get in touch with the Sanford Finance team today on [email protected] or (02) 9095 6888