How it works | HomeSupport

Eligible participants enter into a 5 year lease agreement for a new property with the option to acquire the property any time within this period.

Lease payments are agreed upfront with fixed annual increases and an agreed purchase price locked in along the way.

You get the certainty of knowing where you are going to live and a plan to how you will move to full ownership.

We provide a financial education support program to help you develop budgeting skills. We want to help you achieve ownership as quickly as possible.

Pathway to Ownership: Build equity while renting. The level you are able to build will depend on your discipline to save. We understand that things happen so our program caters for this.
Stability: Long-term leases with predictable costs. Your rental payments are clearly defined in your lease agreement with annual increases documented and capped.
Fixed Purchase Price: Protection from market volatility. The purchase price for your property is also documented so you know at any point what it will cost you to purchase. If the market value drops you can elect not to purchase at the end of the initial term. You will have the option of moving somewhere else or entering into a further long-term lease.
Flexible Entry Requirements: Suitable for those without a deposit or perfect credit. We do require an initial amount to show your commitment. Typically this is 2% of the starting property value. If you a have a poor credit history this does not preclude you from being approved but we will insist on you completing our financial education program and developing a budget you can work with.
Community Benefits: Reduced commuting stress and stronger ties to local areas.

Risk of Loss: Contributions may be forfeited if the purchase isn’t completed. Under our program no contributions are forfeited unless you default on your rental payments and we will deduct any outstanding amounts and refund the balance.
Higher Costs: Rent often exceeds market rates to cover purchase credits. Our rental amounts are market competitive and we don't have purchase credits. We help you implement a savings plan that will help you build a deposit for the eventual purchase.
Limited Protections: Less regulated than traditional mortgages. We pride ourselves on ensuring that all agreements are balanced and ensure rights of all parties involved are respects.
Potential Overpayment: Locked-in prices may exceed future market values. If prices do fall you are under no obligation to purchase the property. You can continue to rent the property or seek alternative arrangements.
Maintenance Burden: Tenants may bear repair costs before ownership. Repairs and maintenance is our responsibility unless damage is caused maliciously. Given this will likely be your future home we expect you will look after the property. If something does go wrong like any other landlord we will arrange repairs and cover the associated costs.