Keystart income limits extended
As part of Keystart’s mission to help Western Australian’s wanting to enter home ownership and support the residential construction industry to encourage economic activity, Keystart is pleased to announce we are extending the higher income limits for our standard Low Deposit Home Loan until June 2021. We are also releasing a home renovation campaign.
Income limits extended
Keystart's temporary changes to income limits for borrowers, which increased by $15,000 for singles and couples and by $20,000 for families, was to end on 30 June 2020 but will now be extended to 30 June 2021. The income limits will revert to previous levels on 1 July 2021.
With around three-quarters of Keystart loan approvals for the construction of a new dwelling, these changes are also expected to boost activity in housing construction and stimulate the building industry.
Increased limits now extended to 30 June 2021
| Region | New income limits | Property purchase price cap |
Metropolitan area | $105,000 (Singles) $130,000 (Couples) $155,000 (Families) | $480,000 |
| Regional Areas (excluding Kimberley & Pilbara | $125,000 (Singles) $150,000 (Couples) $155,000 (Families) | $500,000 |
| Kimberley | $135,000 (Singles) $165,000 (Couples) $170,000 (Families) | $650,000 |
| Pilbara | $165,000 (Singles) $195,000 (Couples) $200,000 (Families) | $650,000 |
Home Renovation Campaign
As of 1 July 2020, Keystart is releasing a Home Renovation Campaign available for our existing Keystart customers. The Home Renovation Campaign will allow eligible customers to borrow up to $100,000, with a minimum loan amount of $1,000, to make improvements to your home including renovations.
Find out more on our Home Renovation Campaign
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