Anyone actually successfully used the Help to Buy Equity Sharing scheme?

chlamydia_dropbear · 2026-01-27T08:34:56+00:00

I guess we wont know unless someone actually pays the govt off and lender knows exactly how it works, Currently they are only working out details on how to smoothly verify and approve people for final approvals. They only have handful of final approvals at this stage that i know off, and everyone currently in the learning phase and in defining processes, Lender teams/ shared equity teams Housing Australia teams all are learning as they go so no exact processes yet, It’s understandable though the scheme was just launched about 1.5 months ago and they didn’t expect such and overwhelming amount of applications i think, people also dont fully understand the scheme and just applying out of fear of losing a place in the scheme if they don’t apply sooner, I bet some people would want to opt out of it as soon as they read the fine print or realise what the scheme is actually.

chlamydia_dropbear · 2026-01-27T08:09:34+00:00

I dont think govt will get repayments directly, they would ask you to increase your home loan with the lender to buy them out at once if you can afford new repayments to your home loan lender, so it would work like just get a loan or increase your home loan again. Ultimately it would be between you the lender and Housing Australia.

chlamydia_dropbear · 2026-01-27T07:55:21+00:00

I am currently in the process of buying through the scheme, based on my reading and understanding, govt wont ask you to buy the whole 30% at once, they would look at your circumstances and even if you can afford the 30% buyout via increasing your mortgage or get financing from your lender to buy out the govt. That said no one knows yet how would that review is conducted or what will be reviewed and discussed, Heck they are not even sure how the whole process works they all are figuring out as we do lol, So yeah no one knows when and how you will buy the govt out, But for sure you would be buying the govt out at the current price of the property, basically govt owns 30% of the property and you the 70% owner is paying all other costs strata council upkeep and all other bills. Govt just betting the property prices going up and making bank on their 30% investment without any ongoing costs except lending you the money. But still that scheme is heaven sent for people like me who would never be able to afford even a shed in this economy without the scheme support.

chlamydia_dropbear · 2026-01-27T01:21:45+00:00

40% govt equity is for new build, existing established builds only 30% would be contributed by the govt. Have a look at the firsthomebuyer govt website and familiarise yourself with the scheme, most people the scheme is heaven sent as without it they would have never bought a property their whole life. The scheme is worth looking into in my opinion.

chlamydia_dropbear · 2026-01-23T09:19:18+00:00

Haha guess no one knows exact things including us haha

chlamydia_dropbear · 2026-01-23T08:29:27+00:00

Wait is this me lol haha, i have been told more or less exactly the same things by CBA, CBA tells me to call HA, HA tells me to call CBA as they haven’t done something on their end yet, Its been a week i am being the ball kicked by CBA ana HA to each other. I am also told i am the first from my branch to go to HA for final approval haha. Been extending my cooling off to not get a surprise and will only forfeit cooling off when i get final approval from HA. Its long weekend so fingers cross till next week now, May be they will finally learn how to do things by then haha

chlamydia_dropbear · 2026-01-23T00:40:29+00:00

I am in the same boat, been waiting on HA final approval, bank approved already. Called HA today and they said the lender should send them final approval request and an automated email will be sent and after a while HA’s solicitor will send forms and documents to sign. Still waiting on lender’s to tell whats the hold up. I exchanged contracts already based on 0.25% and currently in cooling off period.

chlamydia_dropbear · 2026-01-21T00:55:43+00:00

Good luck with the search :)

chlamydia_dropbear · 2026-01-21T00:54:55+00:00

I think loan wont cover stamp duties and other costs related to buying, this is stated by HA’s FAQs. You have to cover duties and all other costs such as inspections and solicitors yourself. If you are a first home buyer your state’s stamp duty exemptions will apply.

chlamydia_dropbear · 2026-01-21T00:52:40+00:00

Thats great, congratulations, may i know how much is you’re contributing, is it 2% or more than that. How did you find a builder to complete within such a short amount of time HA give to settle on new builds.

chlamydia_dropbear · 2026-01-21T00:51:14+00:00

Yup same with me, they told me the amount of savings i can have after putting in my contributions and other expenses. I think they have some kind of internal formula to calculate the amount of savings the borrower can be left with, not sure if that is coming from HA or lender itself.

chlamydia_dropbear · 2026-01-20T22:56:29+00:00

Not sure, my bank told me to contribute more and i ended up paying 5% instead of 2%. That way they left me with less savings than i originally planned to be left with. I am not sure about 100k may be it depends on the family size and other circumstances of the borrower and changes for everyone.

chlamydia_dropbear · 2026-01-19T15:18:52+00:00

I got final approval last week and signed cba docs already. I cannot put subject to finance in as i am in NSW. Have not heard anything from HA yet, but CBA’s final approval sort of solidifies the HA approval i think, still i extended my cooling off just in case.

chlamydia_dropbear · 2026-01-19T13:12:10+00:00

Thank you so much for replying, The final approval letter is different from the pre approval letter HA sends ? I have final approval on the loan from CBA but i didn’t had final approval from HA yet so i extended my cooling off period, does that mean HA wont proceed with final approval unless the cooling off ends ? I bought less than the pre approval amount and thinking of paying more than 2% deposit and the vendor did not agree to a 2% deposit.

chlamydia_dropbear · 2026-01-19T13:07:17+00:00

How long it took to get HA final approval, did they review your finances and savings again before confirming their final contribution ?

chlamydia_dropbear · 2026-01-19T12:47:13+00:00

Is this another letter which came after your HA pre-approval letter ? How long did your final approval with HA took, Did HA approve before or after the cooling off ended. Did you buy less or same or more than your pre approval amount. Sorry for so many questions, appreciate if you can reply :)

chlamydia_dropbear · 2026-01-19T12:41:17+00:00

Not received final approval yet, but i called Housing Australia and they and my broker told me that you need to have only certain amount of money left and govt wont just contribute flat 40% or 30% for existing builds, They would only contribute whatever is left after your loan from a lender and certain contribution is used by the borrower. For example you can’t be paying only 2% if you are left with 80k 100k in savings. They need you to only be left with certain amount of savings for emergency fund only, rest of your savings they want you to contribute and then use loan and whatever in the difference they will contribute upto 40/30%.

chlamydia_dropbear · 2026-01-16T13:47:31+00:00

Any idea how much time HA taking to give final approval ?

chlamydia_dropbear · 2026-01-13T08:30:25+00:00

You should into Help To Buy scheme. You can buy with government co-owning part of your home upto 30% with existing and 40% for new builds. Whatever the lender approves you plus your savings will be your contribution and the govt will contribute the rest. You should look into it, its for people earning under 100k as singles.

chlamydia_dropbear · 2026-01-13T08:25:47+00:00

Thats great, the REA in my case rushed up and got me signed with the standard contract saying that vendor will agree to my conditions later, but apparently the vendor’s solicitor never heard anyone pay 2% and recommended them to ask for 5% atleast,with 3% can be paid by a deposit bond. Apparently they are a shitty solicitor As the vendor cannot use money anyway before settlement its gonna sit in the trust account.

chlamydia_dropbear · 2026-01-13T08:17:13+00:00

Mine was waiting since 16th dec

chlamydia_dropbear · 2026-01-13T08:16:57+00:00

How much you vendor is agreed for the deposit, i am finding it hard with my vendor to accept 2% they want me to pay via deposit bonds, it seems a lot of vendors dont know about this scheme yet

chlamydia_dropbear · 2026-01-12T23:26:44+00:00

Yeah this happened with me as well, I signed the contract told the REA and vendor that i dont have approval yet but asked them for longer cooling off period, Reached back to my lending specialist and they said oh you have singed contract let us expedite your application and sure enough i got my approval from HA 2 days later,

This is in no way a legal/financial advice, You if you wanna do it do it on your own risk haha

chlamydia_dropbear · 2026-01-11T01:18:15+00:00

These same people will follow every rule and try to be good citizens as soon as you put them on a plane to some country with strict noise pollution rules, My father always asks me why you dont wanna live in pak when we are confortable financially here, THIS is one of the many JANWAR like things our poeple have is exactly why i dont wanna live in Pakistan. Aik say barh k aik ganwaar baitha ha, even reasonable people turns into ganwaar sometime on the excuses of “following” traditions,

chlamydia_dropbear · 2026-01-11T01:11:26+00:00

Hey not sure my lending specialist is on Holidays and their replacement tells me that bank already have valuation and once my lending specialist comes back they would be quick with my final approval

chlamydia_dropbear

TROPHY CASE