How does shared equity work?

Under Help to Buy, you’ll own and live in the home, while the Government holds an equity share.

When you sell your home or buy back the Government’s share, the amount you repay is based on the home’s market value at that time.

If the property value increases, the amount needed to buy back the Government’s share usually increases too. If the value decreases, the amount may be lower.

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How do I apply?

You can apply through a participating lender like us. Register your interest with us and we’ll guide you through eligibility and the application process.

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Can I apply with someone else?

Yes, in most cases, as long as you both meet the eligibility criteria.

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Does using the Scheme change my interest rate?

No. Using the Scheme doesn’t increase or adjust your interest rate. Your rate is based on the home loan you choose.

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Does the Scheme cover other buying costs?

No. You’ll still need to pay other buying costs, such as stamp duty, legal fees and building inspections. The Government contribution is based on the property value and excludes these costs, so you’ll need to cover them from your own funds or funds borrowed from the lender.

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Can I use 5% Deposit Scheme and the Help to Buy Scheme together?

No. These are separate Australian Government initiatives and can’t be used together for the same property. If you’re eligible for the 5% Deposit Scheme, you won’t be able to access Help to Buy for that purchase.

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How many places are available under the Help to Buy Scheme?

Help to Buy has 10,000 places available each year over four years, up to a maximum of 40,000 places.

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