Useful Info: FAQ'S

Full Ownership

  • Yes. Under the terms and conditions of the Offer to Borrow and the Keystart mortgage you are required to occupy the property as your principal place of residence. When looking for a property to purchase it is important that it is within a 100km radius of your current place of employment. If there are particular circumstances that may require you to vacate the property for any length of time such as being transferred by your work or illness) you must contact Keystart to obtain permission.

  • Yes you can. Subsequent home buyers are eligible to apply as long as they currently do not own or part own any other home or land. You will need to have a minimum 2% deposit or $2,000 (whichever is the higher), plus stamp duty and applicable fees associated with the purchase at settlement.

  • Keystart’s standard variable interest rate will apply and this is available here. Read more about how we calculate our interest rates.

  • Keystart has undertaken a great deal of research to determine the income levels that assist the greatest number of West Australians into a reasonable standard of housing. These limits are continually reviewed and will be amended if our research finds that it is necessary. Keystart believes where banks or other financial lenders can provide assistance, it is a better finance option for clients.

  • If you  have outstanding defaults, court writs or are currently bankrupt or discharged from bankruptcy for less than two years, you will not qualify for Keystart finance.

    If your credit impairment has been paid and you have maintained a clean credit history since that time we may be able to assist. Please contact us to discuss your individual situation.

  • Unfortunately you cannot be considered for any Keystart products if you already own a property. Keystart assists people that do not have loan options and all Keystart products require the person to owner occupy the home for the life of the Keystart loan.

  • Keystart has an education program that may be able to assist you into home ownership. To find out more click here.

  • You can purchase an established property or build a new home through a registered builder.

  • Keystart was established to help Western Australians who might not qualify for a home loan from one of the traditional lenders into a home of their own. Our vision is to make the dream of affordable home ownership a reality for more people. Our low deposit home loans have provided an attainable pathway into home ownership for more than 100,000 Western Australians. 

  • Keystart aims to make the dream of affordable home ownership a reality for more people. Our low deposit home loans have provided an attainable pathway into home ownership for more than 100,000 Western Australians. Keystart can assist first home owners and subsequent home owners. You can find out more about our eligibility criteria here.

Shared Ownership

  • Yes.

    If you wish to sell the property, a valuation will be conducted to determine the current market value and minimum sale price. The Housing Authority has the first option to purchase the property from you. If the Housing Authority does not take up this option, you can sell the property on the open market. Any capital improvements you have made to the property since the initial purchase will be credited to you and taken into consideration when calculating the value of the Housing Authority's share of the sale price.

  • Yes, you can increase your ownership in the property whenever you can afford to.

    As an incentive for borrowers to own as much of the property as soon as possible, stamp duty concessions apply on the share being purchased from the Housing Authority if it is bought within 10 years of the initial purchase.

    The minimum equity that you can buy at any time is five per cent, and statutory fees and charges will apply.

  • No, the Housing Authority does not charge rent or interest on the portion of the property it co-owns with you.

    You do need to pay all outgoings such as rates and maintenance on the property. The Housing Authority does not contribute towards these costs.

  • Whenever you wish to increase your ownership, the property will be independently valued and the value of the Housing Authority's share will be based on the market value of the property at that time. The market value of any capital improvements you have made to the property since the initial purchase will be credited to you and taken into consideration when calculating the value of the Housing Authority's share. Read more about Shared home ownership

  • Keystart aims to make the dream of home ownership a reality for more people. The Western Australian State Government’s Opening Doors shared ownership scheme provides another pathway to affordable home ownership opportunities. Keystart provides the SharedStart shared equity home loan to qualified applicants. The Housing Authority have a range of homes available under the scheme. Depending on your income and household size, the Housing Authority will co-own up to 30% of a property with you. So you will be paying up to 70% of the property, but the home is 100% yours.

    Under the shared ownership scheme, available properties are listed on the Opening Doors website and include newly-built homes and off-the-plan properties in a variety of areas around Western Australia. 

    Find out more about shared ownership home loans