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Shared Equity
Loan |
With a Shared Equity Loan the borrower
can borrow 20 per cent of the property's
purchase price interest-free and in
return the lender gets 40 per cent of
any capital gain made when the property
is sold or the borrower finalises the
loan. The borrowers pay interest on this
loan, there is no interest or monthly
repayments on the Equity Partner part of
the loan.
If the value of the home increases, the
borrower has to give the Equity Partner
40 per cent of any capital gain made
when the loan is repaid. If the value of
the home decreases, the borrower will
have to pay 20 per cent of the capital
loss.
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Applicant type
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Individuals |
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Employment
requirements |
P.A.Y.G. must be
full-time or part-time permanent. If
Self-Employed, two years. |
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Income: required
proofs |
P.A.Y.G. Pay slips,
group certificates or employer letter.
Self-employed, two years tax returns.
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Loan amounts minimum
& maximum |
$100k > |
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Purpose
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Owner-Occupied
Only |
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LVR
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Max LVR 85%
with LMI |
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Coded, non-coded, or
either |
Coded |
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Credit related
issues |
CLEAR. . |
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Variable, fixed or
both |
Both |
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P&I, I/O, or both
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Both
(depending on LVR) |
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Residency Status
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Citizens and permanent
residents |
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Comments, special
conditions |
Can assist a
purchaser in 2 main ways
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Important Information:
Some email
filters will send form confirmation
links directly to your junk mail box. If
you can not find a reply confirmation in
your inbox please check in your junk
mail. |
If
you wish to proceed, then we will help
you to complete all the necessary
paperwork and liaise with the lender on
your behalf. This will include the
completion and submission of your home
loan application and the on-going
communication between all parties until
your home purchase is settled
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Home Loans