To put it simply, the NSW Government will pay a proportion of the purchase price of a property in exchange for an equivalent ownership share of the property.
If you’re a single parent caring for children, single aged 50 years or older, or a first home buyer who’s employed as a key worker, you could be eligible for the Shared Equity Home Buyer Helper and be one step closer to owning your new home.
If you have a 2% deposit, the NSW Government will contribute up to 40% for a new home or 30% for an existing home. This means the Government has a percentage share of your home equivalent to what they’ve contributed.
You must be one of the following:
You must meet the following Criteria:
Have financial assets that are under:
Do I still have to pay stamp duty?
All costs including stamp duty will be the responsibility of the participant.
What happens when the property is sold?
When the property is sold, the NSW Government will share in the gains or losses with the participant from the sale.
Are there any extra payments on top of the deposit?
No payments (such as rent or interest) are required
to the Government on its equity contribution while a participant remains eligible for the initiative.
Can I increase the percentage of ownership?
Participants can make voluntary payments to increase their share in the property.
Can I still receive other First Home Buyer Grants?
Participants will still remain eligible for first home buyer programs and any stamp duty or land tax concessions if they sit within the requirements.
Can I use a broker of choice or any bank to apply for this grant?
The Shared Equity Home Buyer Scheme is only available through Bendigo Bank.