The Shared Equity Option allows you to borrow up to 33% more without increasing your monthly repayments.
|Boost your borrowing power||Once you have reached your borrowing limit on a HomeStart primary loan you can apply for the Shared Equity Option to boost your loan amount by up to 33%. The Shared Equity Option is only available on established properties and not for new build or house and land packages.|
|No interest rate payments||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.|
|Eligibility||To be eligible you will need to meet the requirements of a HomeStart primary loan and have reached your borrowing limit on that loan. The Shared Equity Option is only available for established properties.|
|Voluntary repayments||You can make voluntary repayments of $10,000 or more to the Shared Equity Option, on top of the minimum repayments to your primary loan, at any time.|
|Final payment||The final payment on a Shared Equity Option will include the loan balance plus a portion of the gain or loss when you sell. If you refinance, HomeStart will share in the property valuation gain, but will not share in any loss.|
Need more information? Call us on 1300 636 878.
Eligibility criteria, terms and conditions apply. Fees and charges are payable.