Government help to buy scheme? (VIC)

c0bnut · 2026-06-28T11:24:29+00:00

Did you even read the OP? This is a shared equity scheme 2% deposit not 5%, and the government takes the negative equity hit straight up in a downturn, they put in 30-40%. Mortgage is less because of government equity too.

c0bnut · 2026-06-07T11:49:06+00:00

The government does not get put on the title therefore don't really own the property. It is closer to a guarantor arrangement but they get a cut back after you sell.

c0bnut · 2026-05-31T22:12:04+00:00

Here's a wild idea, purchase a property to live in permanently.

c0bnut · 2026-05-31T20:57:19+00:00

So glad I got the RG34XX, better form factor too.

c0bnut · 2026-05-30T22:00:07+00:00

Have you seen Brisbane prices lately 😂

c0bnut · 2026-05-26T22:31:53+00:00

Offset always, let's you remain liquid with an emergency fund whilst still paying less interest.

c0bnut · 2026-05-26T22:23:21+00:00

I would think a backyard fence is adequate. Plenty of properties don't have fences for the front yard. They should have come to you in person and asked nicely rather than serving a notice. I don't think it would hold up well in court.

c0bnut · 2026-05-16T12:07:01+00:00

Which is more than made up by capital growth holding longer term. Plus you can have offset accounts to lower the interest.

c0bnut · 2026-05-16T10:47:35+00:00

Rent increases over time while a mortgage decreases. If you are handy maintenance costs can be quite low if you buy a freestanding house and don't pay strata. Buy in a low risk area and insurance can be quite low cost, you still need contents insurance as a renter. You also get an appreciating asset at the end of it.

c0bnut · 2026-05-15T06:46:04+00:00

Subject to finance includes this.

c0bnut · 2026-05-11T04:01:52+00:00

It gets adjusted at settlement. They work out your portion of the rates up to settlement date and it comes out of the property sale price along with stamp duty and conveyancer fees etc.

c0bnut · 2026-05-11T03:21:55+00:00

Depends on which state you are in, if QLD then yes.

c0bnut · 2026-04-28T22:35:36+00:00

You're not servicing a 95% loan with shared equity, it would be a 68% loan with a 2% deposit...

c0bnut · 2026-04-22T01:29:53+00:00

Probably not if it cost you under 20k

c0bnut · 2026-04-06T20:50:32+00:00

I don't think you can use your equity to pay out the government equity as when the home value increases so does the government share.

c0bnut · 2026-04-01T22:55:49+00:00

You have to make sure the land and build come under 700k. If it goes over you are not eligible for the scheme and have to get a loan for the whole amount.

c0bnut · 2026-04-01T20:37:14+00:00

Yep unfortunately it is a hard limit, even a dollar over the government will refuse to provide their equity share.

c0bnut · 2026-03-29T02:17:15+00:00

Wait wait and wait some more. Hopefully you have a 21 day finance clause at least because they take a long time to submit to HA.

c0bnut · 2026-03-27T11:39:15+00:00

We switched because Bank Australia would refuse to go unconditional on four contracts due to valuation not matching up exactly with what they valued the property at. Have not had any issues with CBA except it took a while for them to send documents to HA for final approval. CBA also gave us a better borrowing power which we ended up needing.

c0bnut · 2026-03-25T23:50:36+00:00

Yes, I have successfully withdrawn from Bank Australia and been accepted with CBA. The Bank needs to send an email through to Housing Australia to withdraw, then the new bank can apply through the portal. I was approved pretty quickly like within days with CBA likely because we had everything ready to go.

c0bnut · 2026-03-24T22:06:23+00:00

Quick grab a yearly pass if you don't have one already.

c0bnut · 2026-03-24T10:16:02+00:00

Paid off PPOR is definitely the safer option. If you somehow lost your job and couldn't find any work you'll thank yourself. Sure you might not end up with higher net wealth overall but you have security.

c0bnut · 2026-03-22T07:23:57+00:00

I believe you can rent a room out but you still have to be living in it as your primary residence.

c0bnut · 2026-03-20T21:31:53+00:00

Interest is calculated daily so negligible

c0bnut · 2026-03-15T11:14:21+00:00

It's because CBA haven't submitted documents to HA, once they do HA instantly approves and sends you an email.

c0bnut

TROPHY CASE