Key worker first-home buyers, including nurses, midwives, paramedics, police officers, teachers and early childhood educators, can apply. Single parents and singles older than 50 can also apply, even if they have previously owned property.
Premier Dominic Perrottet said the NSW Liberal Nationals Government would contribute up to 40 per cent for a new home or up to 30 per cent for an existing home bought by eligible home buyers with a minimum deposit of two per cent.
“It is a great day for single parents, singles older than 50 and first home-buyer key workers who have been struggling to break into the market and buy their own home to live in,” Mr Perrottet said.
“It’s exciting to see the interest we’ve already received and to know that this initiative will help make the dream of home ownership a reality for thousands more people across this state.”
Those interested should check the online self-assessment tool to see if they’re eligible for Shared Equity Home Buyer Helper.
If the online tool says you’re eligible, you’ll be directed to contact Bendigo Bank to apply.
Bendigo Bank is the launch lending partner for Shared Equity Home Buyer Helper. Other lenders will have the opportunity to join the initiative this year, which will provide eligible home buyers with an additional choice of lenders.
Under the Shared Equity Home Buyer Helper:
• Up to 3,000 places will be available each year for two years;
• Participants must have a maximum gross income of $90,000 for singles and $120,000 for couples;
• Participants must have a minimum deposit of two per cent of the purchase price;
• The Government will make a maximum equity contribution of 40 per cent for a new home and 30 per cent for an established home; and
• The maximum value of the property that can be purchased is $950,000 in Sydney and regional centres including the Central Coast, Illawarra, Lake Macquarie, Newcastle and the North Coast of NSW, and $600,000 in other parts of NSW.
To find out if you are eligible and apply, go to nsw.gov.au/shared-equity.
How key workers can get Home Buy Helper support
THOUSANDS of nurses, teachers and police officers have registered their interest in buying their first home with as little as a two per cent deposit under the NSW Government’s Shared Equity Home Buyer Helper.