Am I eligible for the Help to Buy Shared Equity Scheme?

🏡 Help to Buy Shared Equity Scheme

Launching in Queensland, New South Wales – Late 2025

What is Help to Buy?

Help to Buy is a shared equity scheme introduced by the Australian Government to help eligible Australians purchase a home with a much smaller deposit.

The government will contribute up to:

  • 30% of the purchase price for an existing home

  • 40% of the purchase price for a new build

In return, the government holds the same percentage share in your property. You can buy back this share over time or repay it when you sell the home.

Key Features

✅ Deposit as little as 2%
✅ Lower mortgage repayments (government owns part of the home)
✅ Government equity contribution of up to 40%
✅ No Lenders Mortgage Insurance (LMI) required
✅ Available for both new and existing homes

Eligibility Criteria

To qualify, you must:

  • Be an Australian citizen

  • Be 18 years or older

  • Earn less than:

    • $100,000 per year (single buyers)

    • $160,000 per year (couples)

  • Does not own any other property in Australia or overseas

  • Live in the home as your principal place of residence

  • Purchase a property within the regional price cap (for QLD, up to $1 million in metro areas such as Brisbane/Gold Coast/Sunshine Coast)

Example – New Build Purchase

  • Purchase Price: $800,000

  • Deposit: $16,000 (2%)

  • Government Contribution: $320,000 (40%)

  • Mortgage Needed: $464,000

Without Help to Buy, you would typically need a deposit of at least $160,000 (20%) to avoid LMI. With the scheme, you can buy with just $16,000 and dramatically reduce your loan size.

Repayments and Government Share

  • You don’t pay rent on the government’s share.

  • When you sell, the government receives the same proportion of the sale price (e.g., if they contributed 40%, they receive 40% of the sale).

  • You can also choose to buy out the government’s share over time if your financial situation improves.

When is it Available?

  • Legislation has been passed in Queensland (June 2025).

  • Applications will open later in 2025 through Housing Australia.

  • Around 10,000 places per year will be available nationwide (40,000 over 4 years).

How We Help You

At Best Foot Forward Mortgage Solutions, we:

  • Confirm your eligibility for Help to Buy

  • Calculate your borrowing power under the scheme

  • Compare participating lenders and products

  • Guide you through the application process step by step

📞 Contact: Shona Stephenson, Principal Mortgage Broker
✉️ shona@bestfootforwardmortgages.com.au
🌐 www.bestfootforwardmortgages.com.au

💬 Want to explore your options or workshop a scenario?
Let’s chat—just 15 to 30 minutes is all it takes for us to run the numbers and give you a clear picture of what’s possible. Reach out anytime!

The information contained is general information only and does not consider your objectives, financial situation and needs. Please talk to us if you need a fast-tracked home loan, and we can help you find a lender with the processes in place to process the application quickly. We strongly recommend that you do not act on any information provided on this website without individual advice from your trusted advisor. You should also obtain a copy of and consider the Product Disclosure Statement for all financial products before making any decision.

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