Buy Assist – community shared equity scheme

The State Government will contribute $5 million to bring a national, community sector, shared equity scheme, Buy Assist to Victoria.

Run by the National Affordable Housing Consortium, it will assist low to medium income, waged employee households to get a foothold in the property market. It has similar eligibility criteria and a requirement for bank loan eligibility.

The Government’s contribution to this scheme is expected to help deliver up to 100 shared equity homes in Victoria.

Buy Assist is similar in principle to the HomesVic scheme, but is based on a private sector model built around partnerships with developers.

As such, it will complement the HomesVic scheme, giving Victorians yet another opportunity to buy their own home