The Shared Equity Scheme is a West Australian State Government initiative to assist First Home Buyers working in key industries, achieve their dream of home ownership.
Properties available under this scheme are offered for sale under co-ownership arrangements with the Department of Housing.
An eligible Buyer can purchase 70% or a property, with the Department of Housing retaining the matching 30% share in perpetuity. You pay no rent or interest to the Department of Housing for their 30% share of the property.
Properties cannot be sublet or leased to other parties and the private co-owner can never acquire the Department of Housings share.
Properties may be sold at any time, but only to the Department of Housing using a Market Valuation process to determine the current value of a co-owners share.
For further details or a property viewing please phone Scott Spinley on 0408 863 353 or Les Innis on 0418 920 111 or alternatively visit www. sharedequityproperties.com.au.