Shared Equity Option (SEO) limits have increased. Customers can now earn up to $120,000 (net household income) and purchase homes up to $750,000.
These changes give brokers more flexibility when supporting customers considering shared equity with more suburbs now in reach.
Previously, only 13 suburbs had a median house value below the Shared Equity Option purchase price limit.
With the new increase to $750,000, that number has grown from 13 suburbs to 36.
Looking at the most affordable end of the market, the number of suburbs available has increased from 49 to 92.
So, with expanded eligibility and more suburbs in reach, it could be a smart move for many South Australians to look again at HomeStart.
If you’re not familiar with the SEO, this short video provides a helpful overview.
Shared Equity Option and Help to Buy Scheme.
While the concepts are similar, there are some key differences that may influence which product is the better fit. Our comparison guide provides a side-by-side view to support your customer conversations.
To become accredited to write the Shared Equity Option, contact your Business Development Specialist.
These changes give brokers more flexibility when supporting customers considering shared equity with more suburbs now in reach.
Previously, only 13 suburbs had a median house value below the Shared Equity Option purchase price limit.
With the new increase to $750,000, that number has grown from 13 suburbs to 36.
Looking at the most affordable end of the market, the number of suburbs available has increased from 49 to 92.
So, with expanded eligibility and more suburbs in reach, it could be a smart move for many South Australians to look again at HomeStart.
If you’re not familiar with the SEO, this short video provides a helpful overview.
Shared Equity Option and Help to Buy Scheme.
While the concepts are similar, there are some key differences that may influence which product is the better fit. Our comparison guide provides a side-by-side view to support your customer conversations.
To become accredited to write the Shared Equity Option, contact your Business Development Specialist.
