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Urban Connect Plus

Specially designed loan to cover the developer’s deposit for an off-the-plan apartment if you don’t have funds available upfront.

Start planning your apartment lifestyle sooner.

Loan overview

  • Specially designed to help you secure your off-the-plan apartment with a loan to cover the developer’s deposit if you don’t have the funds available upfront. It's important to note this is not a loan for the entire purchase price of the apartment.
  • Once your apartment is complete, we'll review your financial situation to ensure you can complete the purchase of your apartment with our Urban Connect Home Loan. 
  • Your payments you have made to Urban Connect Plus may contribute to Keystart's home loan deposit requirements.
  • Loan term can be up to five years.

Interested in Urban Connect Plus? Enquire today.

What to consider when buying off-the-plan

Urban Connect Plus is only available if you're buying an apartment off-the-plan, meaning buying an apartment that hasn't been built yet.

  • There are some benefits to buying off the plan.

    • You have an opportunity to buy at today’s prices for your future apartment purchase.
    • You'll have some time to prepare for home ownership while paying your Urban Connect Plus loan.
    • You may be eligible for (stamp) duty upfront concession, saving you thousands.
    • You may have choices in the apartment's design – and your apartment will be brand new.
    • You'll get to enjoy the benefits of apartment living.

  • You should also consider the possible downsides of buying off the plan.

    • When you buy off-the-plan, you're essentially buying a promise from the developer to build the apartment according to the plans they show you.
    • The building process can take several years.

  • Consider your options

    • Weigh up what works best for you.
    • Think about what housing will suit your lifestyle, location and budget.

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)

How it works

Urban Connect Plus loan is only available with Urban Connect Home Loan. Here's how the two loans work for off-the-plan apartments.

  1. Developer deposit and sale contract

    To hold, or secure, your apartment, you'll need to pay the apartment developer's deposit (a portion of the purchase price - usually around 10%) upfront. The amount of this deposit is set by the developer, not by Keystart.

    You'll sign a sales contract with the developer which will outline details of the property.

  2. Sign your loan contract

    If you use Urban Connect Plus to cover the developer's deposit, you’ll sign a Keystart loan contract. 

  3. The build phase

    The construction of the apartment building can take years, depending on the project's size and complexity.

    During this phase, you'll make payments towards your Urban Connect Plus loan.

    Once the apartment is nearing completion, you'll complete your purchase by paying the developer the rest of the purchase price.

    We'll assess your situation again at this point to switch you from Urban Connect Plus to Urban Connect Home Loan.

    You'll also get the keys to your new apartment.

  4. Manage your home loan

    Once you've switched to Urban Connect Home Loan, you’ll have a home loan with a longer loan term. We have loads of resources and an app to help you get ahead on your home loan.

More about Urban Connect Home Loan

Get started!

The loan product is initially running as a pilot. Fill in our form below to start your enquiry today.
One of our home loan specialists will be in touch to do an assessment over the phone with you

You can also give us a call on 1300 578 278 to find out more.
You can view all our loan products here. 



Urban Connect Plus FAQs

  • Q What if my situation changes and I no longer want to go ahead with the purchase when the apartment is ready?
    A
    If you can't complete your apartment purchase for any reason, you'll remain liable to repay your Urban Connect Plus loan to us, even if you aren't entitled to recover your deposit from the apartment developer.

     

  • Q What happens if the development doesn't go ahead?
    A
    While unlikely, it is possible that an apartment development doesn't go ahead, for example, if not enough sales are made. If this occurs, you become entitled to a refund of the deposit from the developer. You'd need to use that refund to repay your Urban Connect Plus loan. If the refund is not enough to repay the loan in full, you'll remain liable for the difference. If there are surplus funds available after you have repaid your Urban Connect Plus loan, those funds will be returned to you.

     

  • Q The loan term is a maximum five years - what happens if my apartment is ready before that timeframe.
    A

    The payments you have made through Urban Connect Plus will contribute to our home loan deposit requirements. If you haven't met the 2% deposit requirement for your Urban Connect Home Loan, you'll need to cover those funds.

     

  • Q How do I get started?
    A

    You'll need to apply for home loan finance first as we'll check if you qualify for an Urban Connect Home Loan for the total purchase price of the apartment.

    We'll set you up with the Urban Connect Plus loan. Once your apartment is complete, we'll reassess your financial situation to ensure that a home loan is still suitable for you. Then you'll switch to Urban Connect Home Loan to complete the purchase of your apartment.

     

  • Q How does this work with Urban Connect Home Loan?
    A
    Once your apartment is complete, we'll review your financial situation to ensure you can complete the purchase of your apartment with our Urban Connect Home Loan. The payments you have made through this loan may contribute to Keystart's home loan deposit requirements. 

     

    Urban Connect Home Loan
  • Q Why are we offering this?
    A
    To hold, or secure an apartment, you'll need to pay the apartment developer's deposit (a portion of the purchase price - usually around 10%) upfront, The amount of this deposit is set by the developer, not by Keystart. The loan is available to cover that deposit if you don't have the funds available upfront.

     

  • Q Where can I use this?
    A

    Urban Connect Plus is only available if you’re buying an off-the-plan apartment, meaning buying an apartment that hasn't been built yet.  

    Urban Connect Plus loan is only available with Urban Connect Home Loan. With the same criteria as the Urban Connect Home Loan, this loan is available for apartment developments in urban locations and close to transport hubs. 

     

  • Q What is this loan for?
    A

    This loan is specifically designed to help you secure your off-the-plan apartment with a loan to cover the developer’s deposit if you don’t have funds available upfront . It's important to note this is not a loan for the entire purchase price of the apartment. This is a personal loan, not a home loan and the loan term can be up to five years.