PLATYPUS IMPACT HOUSING AUSTRALIA LIMITED
ABN 7765 4195 445
A REGISTERED CHARITY
Platypus Impact Housing Australia
Shared Equity Program
Affordable Housing for Low & Middle-Income Families
The world is a difficult place to live, but we believe in making it a better place for everyone to lead a great life.
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When it comes to leading a happier and more contented life, having one’s own home is one of the greatest achievements that any Australian can think of.
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Statistics show that 31% of Australian households are living in rented homes and most cannot seem to have any strategy to start owning and living in their own home.
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This is where Platypus Impact Housing Australia comes into the picture with our Shared Equity program.
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It's easy. You can own your own home by applying your rent payments into Home owner mortgage payments.
We are a charity registered with the ACNC. We support community housing organizations to achieve their housing goals throughout NSW, VIC, QLD and ACT.
We assist in filling the financial gaps that exist in housing among low and middle-income households that cannot afford housing in a more traditional setup.
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With our unique Shared Equity program, we help make homeownership possible for those who may be short on their deposit or have monthly incomes that limit their borrowing capacity. At Platypus Impact Housing Australia, we believe that everyone who works hard deserves to live with surety of their own home.
How Does Our Shared Equity Program Work?
A Typical Shared Equity Scenario
We often come across singles and couples, low and middle-income families who cannot afford to put in more than a 5% deposit and don't qualify for a mortgage that can cover the shortfall.
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The Platypus Impact Housing Australia Shared Equity program was established to cover the difference in your deposit and borrowing capacity to help you complete the purchase and start living in your own home (and creating wealth).
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You simply enter a shared equity agreement with us (for example 10-year term).
Some of the common options for families or individuals include:
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Increase equity during the length of the agreement term
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Purchase our equity at the end of the term
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Roll over the agreement to create a new one
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Sell the house and enjoy the equity you’ve made.
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The returns provided by such a program can have a life-changing effect and there is no more rationale in continuing to pay rent. When you buy and move into your own home, you will be transforming your payments into equity and saving that money that was otherwise being spent as rent – wasted money.
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Who is the Ideal Candidate for Shared Equity?
Our Shared Equity program is currently open on preselected properties and available to a wide range of buyers and investors.
This includes first-time home buyers, owner-occupiers, and investors who meet our criteria. This also includes divorced individuals and couples who have difficulty raising the deposit required to pay a mortgage. This group of people are not supported by Government assistance schemes as in most cases they are second home owners.
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When you take up a shared equity position, you will no longer be paying rent. Rent is the kind of money that you spend and will never see again. There is no return on rent.
With the Platypus Impact Housing Australia program, we will provide you with the equity required for you to own your own home and live in it. It means security and stability that cannot come with a rental home and no longer need to worry about increased rent and moving again and again.
BENEFITS OF SHARED EQUITY HOUSING
Share equity strategies have long been proven beneficial for many people since the properties involved in our program are beautiful new affordable properties with realistic prices.
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Our program also offers the potential for wealth creation among the people we assist. Homeownership is still out of reach for many people, especially with the pandemic and economic slowdown in the background.
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Even when housing prices and interest rates moving, lending standards have become more stringent and the plateau in household incomes. All these affect homeownership capabilities amongst low and middle-income buyers.