The NSW Government is launching a shared equity scheme for eligible participants, paying a proportion of the property purchase price in exchange for equivalent ownership share of the property. No repayments will be required on the equity contribution, no rent, no interest charged whilst remaining eligible for the scheme. Voluntary reparents can be made to progress to full ownership of the property by participant.
The Shared Equity Scheme is open to eligible first home buyers who are single parent, older singles and to keyworkers. The Scheme is planned to begin January 2023.
For more information go to: https://www.nsw.gov.au/housing-and-construction/shared-equity-scheme?