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Urban Connect Shared Equity Home Loan

Get into a home of your own sooner with a property price limit of up to $730,000 with Housing Authority co-owing a share of the property with you, acting as a silent partner to help.

Designed to help you get into a home of your own sooner with the help of Housing Authority

Loan features:

  • Available for newly built apartments, townhouses, villas and units.
  • Properties can be built or survey strata, or a green title with a maximum land size of up to 200 square metres.
  • Low 2% deposit, meaning less time to save.
  • No lender's mortgage insurance, saving you thousands. 
  • No monthly account keeping fees.
  • If eligible, use your first home owner grant (FHOG) towards your deposit if you build.
  • Housing Authority will co-own a share of the property with you, so you can have a higher purchase price. Share your home loan, not your home.

Rates and fees

For purchasing homes in the
% PA

Variable rate

% * PA

Comparison rate

Click for more info

Deposit required

Maximum loan term

  • Lender's mortgage insurance $0
  • Additional repayments allowed? Yes
  • Flexibility in repayment frequency Yes
  • Monthly account keeping fees $0
  • Loan increases? Click for more info
  • Statement frequency 6 Monthly

*Warning: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

Income limits

Just me (maximum income)
Two of us (maximum income)
Family (maximum income)

Next steps

    Q&As about this loan

    • Q Other than the deposit, what other costs are there?
      A

      Some of the other upfront costs you may incur when buying a home include application fees, legal or conveyancing fees, transfer fees, government stamp duty, inspection fees (building or termite), settlement agent fees, building insurance and water or shire rates. 

      You may also need to consider your moving costs if you need to hire a truck or removalists. If you're a first home buyer and you're thinking of building a new home, you may be eligible for the  first home owner grant. 

      Costs and benefits of buying a home
    • Q Will I have to have property inspections?
      A
      No. No more rent inspections!  The Housing Authority don't conduct inspections on its shared ownership properties. As long as you maintain the property and comply with your obligations under the mortgage and Co-owners Deed you will be left to occupy the property peacefully and without disturbance. Enjoy!
      All about shared ownership
    • Q Am I free to sell my home?
      A
      You can sell your home at any time. Read our guide to selling a shared ownership home.
      All about shared ownership guide
    • Q Can I choose the percentage I own?
      A

      No. The percentage you own in a shared ownership home loan will be determined by your financial situation.

      If you have a 'flexible' shared ownership home loan you can increase your ownership whenever you can afford to.  Stamp duty concessions and incentives may apply.

      If it is a 'fixed' shared ownership home loan, the Housing Authority will always retain its portion of the property. If you decide to sell your home, the Housing Authority buy your share back.

    • Q What property types are eligible under the Urban Connect Shared Equity Home Loan?
      A

      Urban Connect Shared Equity is available for individual, multiple or grouped dwellings – including apartments, townhouses, unit and villas – which are newly-built, under construction or off-the-plan and located anywhere in Western Australia.  

      Properties can be single or multi-storey, built or survey strata, or on a green title with a maximum land size of up to 200 square metres.

       

    • Q Where can I find a property to purchase using Urban Connect Shared Equity?
      A
      You can search for properties anywhere in Western Australia across online listings such as realestate.com.au and domain.com.au as long as they meet the Urban Connect Shared Equity loan criteria, including the maximum 200 sqm land requirement.

       

    Generate Key Facts Sheet

    Select the purpose of the home loan and type the amount you would like to borrow to generate the Key Facts Sheet.

    Purpose of the home loan Click for more info