Whether you are an individual investor, a couple, a family, a tenant, or anyone else interested, you have the opportunity to benefit from the Platypus Impact Housing Australia (Platypus) Shared Equity program. This innovative initiative is a significant advancement and is straightforward to engage with.
The Platypus Shared Equity opportunity enables you to acquire a property with a minimal initial deposit. For instance, you can secure a property with just 5% deposit, with Platypus contributing an additional 15% to constitute a total Shared Equity Balance of 20%. This contribution from Platypus is provided as a no-interest loan, repayable over a period of up to 10 years! There are NO MONTHLY PAYMENTS and you may commence ownership with as little as $5,000.
It’s important to note that Shared Equity does not entail shared ownership; rather, you retain 100% ownership on the title of the property. By achieving a 20% deposit, you will avoid Lenders Mortgage Insurance (LMI), resulting in significant savings and also reducing your monthly payments on the first mortgage.
You have the opportunity to purchase a property with an initial partial deposit, starting from as little as $5,000. Platypus will cover the remaining portion required to complete the 20% deposit, This arrangement is known as SHARED EQUITY, designed to reduce upfront costs and eliminate Lenders Mortgage Insurance costs (LMI).
Under this program, you repay the15% to Platypus at the end of ten years or earlier at your discretion without any interest payments. The property is likely to double in value by that time. This structure offers flexibility and financial advantages for prospective homebuyers and investors.
