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Keystart – Affordable & reliable home loans

Keystart provides a variation of home loan options for first timers and subsequent homebuyers in the Perth metropolitan area. Do you want to improve the quality of your housing or perhaps you are thinking of owning your own home? You could consider the option below.

Keystart standard home loan

The Keystart Standard home Loan is a low deposit home loan that is available to assist Western Australians to finance affordable home loans when other home loan lenders are not able to provide assistance. You are able to build or buy a home anywhere in Western Australia the loan is also available for owner occupiers as well as first-time buyers and subsequent buyers.

Aboriginal home loan

This Home Loan was recognised in 1995 and was intended to make provision, educate and offer a chance for Aboriginal and Torres Strait Islanders. By means of giving people the opportunity of purchasing affordable homes to live in.

Disability home loan

This home Loan assists individuals who have a disability or care for a dependant with a permanent disability, it allows you to buy an affordable home or make modifications to an existing home.

Sole parent home loan

This option is available to current homeowners to refinance a current family home into sole ownership. It applies to single parents to hang onto a home as a result of separation or in a case of bereavement. Keystart will need to check each and every candidate's state of affairs carefully to confirm that their clients are able to afford home loan repayments without getting into financial trouble. So they require thorough documentation from you when you apply for a loan.

Unique offer

Education program - This program was applied in September 2010 and designed to benefit a growing number of unqualified West Australians (mostly through too much debt) to become eligible for a Keystart loan. They are proud to say that more than 160 applicants have effectively completed the program since its inception.

Unique business

They are administered by the Corporations Act and controlled by the Australian Securities and Investments Commission.  And only one shareholder: the WA Housing Authority.

What else is different?

• Transitional scheme - Once a client’s financial status quo improves, they may refinance to a provider that offers financial solutions that they do not offer such as credit cards or financial planning services, or possibly other solutions that may support their individual purposes. Approximately 80 % of their clients have already transitioned to private lenders.
• Quality loan book - Roughly 89 % of their clients are in excess of their repayments by one month or two months perhaps more. The standard proportions of lapsed accounts in the mortgage market a steadily above 1.3 % of a loan book. For this financial year to April 2018, their proportion of lapsed accounts is averaging 1.1 %.
• No government subsidy - No grants are provided to Keystart and have not required ongoing financial aid.
• Strong social dividend - Surpluses are reverted to the Housing Authority in the form of a surplus, and the Housing Authority uses those funds to complete its social housing objectives.
• Surpluses - Over the last five years up to 2017, they have delivered over $30 million in social dividends.