Keystart's first Urban Connect Home Loan customer says his riverfront apartment, close to the city and transport links, ticked every box on his new home wish list.
Fly-in, fly-out worker Craig Sparrowhawk knew immediately the lock and leave, low maintenance, secure two-bedroom, one bathroom property in Rivervale was perfect when he first viewed it in July, the same week Urban Connect was launched.
“The Vantage Apartments complex also has a rooftop barbeque and seating area with amazing views of the city, Optus Stadium, Crown Casino and of course, the Swan River,” Craig said. “Plus, there is a beautiful pool, fully equipped gym, spa, sauna, steam room and a theatre room for owners to use. It has everything I need, plus some.”
Craig, an oil rig assistant crane operator currently working off the coast of Karratha, was referred to Keystart by the apartment’s selling agent. “The timing was perfect. Urban Connect was launched the same day I called seeking pre-approval to put in on an offer to purchase.”
The Urban Connect Home Loan pilot is providing 300 home loans to Western Australians to buy medium and high-density homes close to transport hubs and in urban locations across 189 suburbs in the greater Perth area.
The first of its kind in Australia, the home loan is specifically designed to make medium and high-density living more accessible and support the Western Australian Government's urban infill priority.
Keystart Chief Executive Officer Paul Graham said, "This home loan product is encouraging more eligible buyers to purchase closer to the city, transport hubs and established local amenities.”
The new low deposit Urban Connect Home Loan is accessible to Western Australian singles earning up to $180,000 a year to purchase a home for $560,000 or less, and couples and families with a combined income of up to $200,000 a year to purchase a home for $650,000 or less. People can purchase apartments in medium and high-density buildings. The two-year pilot of these loans is available for new and established homes.
Craig said Keystart took all the stress away from purchasing his apartment.
“I called and explained what I needed, along with the fact that I needed to leave to go back to work in three days. They emailed me a checklist with the documents I needed to provide. Once I sent them, I went back to work and everything was sorted for me, it was so seamless.”
He said Keystart home loan specialist Radloff Calitz was extremely helpful, showing him how to navigate the online application process step-by-step.
Craig said by living so close to the city and the airport, he was saving significant money on transport. “I went to Optus Stadium for a Melbourne Cup function and the Uber was about $6. And when I go back to work, my car will be safe and secure in my carpark and an Uber to the airport won't be much at all.
“I have no garden to worry about and someone else cleans the pool for me. It doesn't get any better.”
An Essendon Football Club supporter, Craig said he was looking forward to footy season when he could invite friends over for a drink before walking 20 minutes to Optus Stadium to watch the Bombers play.
Paul said the Urban Connect pilot was going to provide valuable insight into the long-term need for such a product.
“We know that saving for a deposit to secure finance is the biggest barrier to home ownership for most people and is usually being saved simultaneously to people paying rent,” Paul said.
“Keystart's low deposit home loans help people get their foot on the property ladder sooner and start building equity instead of paying rent, and we're seeing a growing need for this type of assistance across more demographics and property types,” he said.
“By making home ownership more accessible to Western Australians, especially in urban areas and locations close to transport infrastructure, we can support infill targets and contribute to vibrant and engaged communities around greater Perth.”
Find out more about the Urban Connect Home Loan.