Shared Equity Scheme

The NSW Government has introduced the Shared Equity Home Buyer Helper to assist home buyers who would otherwise not be able to purchase a property.  Those it aims to help are single parents, single people over the of the age of 50, first home buyers who are ‘key workers’, and finally victim-survivors of domestic & family violence. 

In basic terms, the NSW Government will pay up to 40% of the purchase price, retaining it as equity for as long as the purchaser is eligible.  There are no payments or rent required to be paid, and applications have opened as of December 1st 2023. 

To help break it down for you and quickly test your eligibility, if you meet the following basic requirements we would suggest giving us a call to chat further and see if the scheme can help make your homeownership dreams become a reality:- 

• 18yrs or older, and either Aus or NZ citizens or permanent residents 
• Applicants who are a 

• Single parent (not necessarily FHB) 
• Single person over the age of 50yrs (not necessarily FHB) 

• First Home Buyers who are ‘key workers’ such as a nurse, midwife, paramedic, teacher, early childhood educator or police officer 

• You’ll need a 2% deposit by way of proven savings, ie not a lump sum ‘gift’ from family etc 
• You’ll need to prove you could not purchase without the help of the scheme, ie it is for those who need it rather than those who would just like it 

Applicants will need to tick a few more detailed boxes such as an income & asset test, however for those eligible it will most certainly make the dream of homeownership achievable. 

For a quick chat with one of our experienced conveyancers, follow this link to book a 15 minute Discovery Call and explore your eligibility further.