The Shared Equity scheme is a state government initiative to help low to moderate income earners to realize the dream of home ownership through reducing the initial cost of buying a home.

Under the scheme eligible first home buyers can build a home in conjunction with Keystart and the Department of Housing and Works.

Depending on your income and house hold size, the Department will co-own up to 25% of your property bringing down both your initial purchase price and weekly repayments. The Department does not charge rent or interest on the portion of the property it co-owns with you.

Benefits include:
- Low Deposit ($2,000 or 2% of the value of your equity share (whichever is greater)
- The First Home Owner Grant can be used towards the deposit and fees
- Variable interest rate
- No lenders mortgage insurance
- No account keeping fees