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If you're a single parent caring for children, single and aged 50 years or older, a victim-survivor of domestic and family violence, or a first home buyer employed as a key worker, the NSW Government's Shared Equity Home Buyer Helper may help you fast-track your path to homeownership by supporting you to purchase your own home with as little as a 2% deposit, while saving thousands of dollars in lenders mortgage insurance costs.
Through Shared Equity Home Buyer Helper, the NSW Government is supporting and creating opportunities for eligible applicants to buy a home, up to a certain value, when they would otherwise not be approved for a mortgage because of their circumstances. The Government’s contribution means a smaller deposit and lower monthly repayments. Download the fact sheet and information guide for more details.
Under the Shared Equity Home Buyer Helper, you will have a mortgage with Unity Bank to help fund your share in the property, and you will pay interest (and principal repayments) on that mortgage as you would any other debt funding agreement you entered into. The Government’s interest in the property will be represented as a second mortgage on the title, alongside the primary mortgage held by the lender.
For full details on the victim-survivors of domestic and family violence, download the fact sheet.
To find out more or assess your eligibility, talk to us, download the Fact Sheet or view the information guide.
| Variable Rates | Principal & Interest | Interest Only | ||
| Interest Rate | Comparison Rate | Interest Rate | Comparison Rate | |
| LVR of 60% and below | 6.24% p.a. | 6.24% p.a. | 6.24% p.a. | 6.87% p.a. |
| LVR from 60% to 80% | 6.24% p.a. | 6.24% p.a. | 6.24% p.a. | 6.87% p.a. |
| LVR from 80% to 90% | 6.24% p.a. | 6.24% p.a. | 6.24% p.a. | 6.87% p.a. |
| LVR Above 90% | 6.24% p.a. | 6.24% p.a. | 6.24% p.a. | 6.87% p.a. |
| Standard | 7.34% p.a. | 7.34% p.a. | N/A | N/A |
| Fixed Rates | Principal & Interest | Interest Only | ||
| Interest Rate | Comparison Rate | Interest Rate | Comparison Rate | |
| 1 Year | 6.49% p.a. | 7.25% p.a. | 6.49% p.a. | 7.25% p.a. |
| 2 Year | 6.39% p.a. | 7.15% p.a. | 6.39% p.a. | 7.15% p.a. |
| 3 Year | 6.39% p.a. | 7.06% p.a. | 6.39% p.a. | 7.07% p.a. |
| 5 Year | 6.49% p.a. | 6.96% p.a. | 6.49% p.a. | 6.97% p.a. |
The applicant must be an Australian resident, hold permanent residency or be a New Zealand citizen with a special category visa, and be of at least 18 years of age. The scheme is open to:
Applicants must have:
In Sydney and regional areas including the Central Coast and North Coast of NSW, Lake Macquarie, Illawarra and Newcastle the maximum value of the property must be $950,000, and for other parts of NSW $600,000.
In addition to meeting your obligations on the mortgage with Unity Bank, you must also meet the ongoing eligibility criteria and obligations to continue to take part in Shared Equity. Keep in mind that the ongoing eligibility criteria may differ from the entry criteria you had to meet when you applied for Shared Equity.
The initiative commenced on the 23rd of January 2023 as a pilot program, with applications accepted over two financial years (2022-2023 and 2023-2024). From 1st July 2023, there will be 3000 more places available.
No, a home buyer only has access to the benefits of one of the initiatives.
Yes, applicants can claim stamp duty exemptions, as the initiative does not impact state tax arrangements that First Home Buyers are currently eligible for. An eligible applicant will be able to claim stamp duty exemptions or a concession under First Home Buyer Assistance Scheme as part of their property purchase.
Unity Bank and Bendigo Bank are currently the participating lenders in the initiative.
Those participating in the initiative are allowed to make voluntary payments to reduce the interest held by the NSW Government in relation to the property.
Following the sale of the property, the proceeds will be paid in the following order: First, the participating lender, followed by the state and then the participant of the initiative subject to any other claim on the property. The government will be paid for its interest in the property, and proportionally share in the gains and losses with the participant from the sale.
Please note this hotline number is for our Government Home Buyer Schemes only. Please call our 1300 36 2000 number for all other banking matters.
All information including interest rate is subject to change. Unity Bank is a participating lender for NSW Shared Equity Home Buyer Helper, which is an initiative of the New South Wales Government. The information on this page is correct at the time of publishing but may change at any time without notice to you, including as a result of changes to the NSW Shared Equity Home Buyer Helper scheme by the New South Wales Government. Terms and conditions, fees, charges, eligibility and lending criteria apply. Restrictions and other obligations apply after purchase. Full details available on application. All information is correct as at 1 July 2023 and is subject to change without notice. Target Market Determination available here.
