Lower income earners are now one step closer to owning a space of their own with Keystart – one of WA’s great success stories in housing affordability – relaxing its criteria.
The previous income limits of $90,000 for singles, $115,000 for couples and $135,000 for a family will be lifted by $15,000 for singles and couples and $20,000 for families between July 1 and December 31, 2019.
“The recent announcement surrounding Keystart has come at an amazing time when building prices are extremely competitive and buyers able to get more inclusions than they ever have before,” says SOMO founder Jay Walter. “With the parameters changed, more singles, couples and families are able to qualify with the State Government being very generous in their offering to ensure buyers have a great chance of getting into home ownership with the different housing products and styles on offer so competitive.”
Keystart provides low-deposit home loans to West Australians who can’t meet the requirements of mainstream lenders
Keystart is a State Government-owned mortgage lender, helping home buyers who meet certain criteria purchase an owner-occupied property in Western Australia.
“My Government wants to help as many Western Australians as possible achieve the dream of homeownership,” says Premier Mark McGowan. “The broadening of eligibility for Keystart finance will make home ownership accessible for many people who thought it would be unachievable.”
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