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NSW Shared Equity Home Buyer Helper

Buy your own home with just a 2% deposit.

Buy your own home sooner

Home ownership is a big challenge facing people living in New South Wales.

Saving for a large deposit can be daunting.

The NSW Government will ease that burden for eligible applicants with the launch of the NSW Shared Equity Home Buyer Helper on 23 January 2023. 

So, if you’re a single parent caring for children, single aged 50 years or older, or a first home buyer who’s employed as a key worker, or meet the domestic and family violence criteria, check your eligibility and take the next step to owning your own home.

Here's how it works

If you have a 2% deposit, the NSW Government will contribute up to 40% for a new home or 30% for an existing home.

Shared equity means the Government has a percentage share of your home equivalent to what they’ve contributed.

Lenders Mortgage Insurance is not required, potentially saving you additional thousands.

To be eligible you must;

  • meet at least one of the following:
    • a single parent caring for a dependent child or children,
    • a single person (not married or in a de facto relationship) aged 50 years or older, or
    • a first home buyer who’s employed as a key worker (teacher, early childhood educator, nurse, police officer, paramedic),
    • have experienced a domestic and family violence incident within the last 5 years;
  • meet the Bank's lending criteria and be able to afford to repay the loan;
  • live in the property;
  • be an Australian citizen or a permanent resident (including New Zealand citizens with a special category visa), at least 18 years old;
  • not own or part-own any property (including land) in Australia or overseas (and the same applies to your spouse);
  • have a gross annual income that’s not more than $93,200 for singles and not more than $124,200 for couples;
  • buy a home that’s less than $950,000 in Sydney and major regional centres (Newcastle, Lake Macquarie, Illawarra, Central Coast, North Coast of NSW) or less than $600,000 in other regional areas;
  • have not received any other government financial support to buy the property such as the Home Guarantee Scheme;
  • demonstrate your ability to save over time, and have a minimum deposit of 2% of the total property price;
  • be able to pay for all costs associated with purchasing your home such as conveyancing, legal costs, building inspections and stamp duty (if applicable);
  • have financial assets that are under:
    • 30% of the total property price if your income is more than $93,200 p.a.,
    • 45% of the total property price if your income is up to $93,200 p.a.,
    • 65% of the total property price if you are a single person 50 years of age or older or meet the domestic and family violence criteria;
  • meet ongoing property requirements and report any change in circumstances.

We're here to help you with your application

If you meet the eligibility criteria the next step is to reach out to our team who can assist with your application. Complete our simple online enquiry form and a team member will be in contact with you shortly.

The application process

Check your eligibility

Check your eligibility for the scheme.

Chat to us

We’ll have a preliminary discussion to make sure you can afford a loan and meet the Bank’s lending criteria.

Make an appointment

Enquire online and a Bendigo team member will be in contact shortly to assist you with your application

Buy your home

After 23 January 2023, purchase a property that meets the conditions of your pre-approval within 90 days. 

Get home and contents insurance worth having

Insurance you can rely on is worth its weight in gold. Help protect your home by making sure you have adequate cover in place. We offer a range of options, great payment flexibility, and we have a dedicated insurance team who can assist you.

Things you should know

Bendigo 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 19 December 2022 and is subject to change without notice. Find out more at Target Market Determinations for products are available.

Bendigo and Adelaide Bank acknowledges Aboriginal and Torres Strait Islander peoples as the First Peoples of this nation and the Traditional Custodians of the land where we live, learn and work. We pay our respects to Elders past and present as it is their knowledge and experience that holds the key to the success of future generations.

Bendigo and Adelaide Bank Limited, ABN 11 068 049 178 AFSL / Australian Credit Licence 237879. Any advice provided on this website is of a general nature only and does not take into account your personal needs, objectives and financial circumstances. You should consider whether it is appropriate for your situation. Please read the applicable Disclosure Documents before acquiring any product described on this website. Please also review our Financial Services Guide (FSG) before accessing information on this website. Information on this page can change without notice to you.

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