Launching on 23 January 2023, the shared equity property ownership scheme will see the NSW Government assist teachers, nurses, police, single parents, and over-50s singles into the property market.

In similar fashion to the Federal Government's 'Help to Buy' scheme, the state government will pay a proportion of the purchase price of a property in exchange for an equivalent share of the property.

The NSW Government equity contribution is up to 40% of a new dwelling and up to 30% of an existing dwelling.

Bendigo and Adelaide Bank Chief Customer Officer for Consumer Banking Mr Richard Fennell said the scheme helps those get their foot on the property ladder.

“Bendigo and Adelaide Bank’s purpose is to feed into the prosperity of our customers and the communities they live and work in, not off them, and we’re delighted to help first homebuyers get that foot in the door in owning their first ever home,” Mr Fennell said.

“As one of Australia’s largest and most trusted banks, we support any initiative that helps Australians get ahead.

“We know home ownership is an important enabler of both financial and community security, which is why we are also proud lending partners of the Victorian Homebuyer Fund and Federal Home Guarantee Schemes.”

Under the scheme, eligible home buyers can purchase their own home with as little as a 2% deposit with no lenders mortgage insurance (LMI) required.

There will be 3,000 applications available per financial year across 2022-23 and 2023-24.

Participants are also able to claim stamp duty or land tax concessions or apply for First Home Buyer assistance.

NSW shared equity scheme criteria and eligibility

The initiative is open to: 

  • Single parents of a dependent child or children under 18 years of age;
  • Single people 50 years of age or above;
  • First home buyer key workers who are nurses, teachers, police officers, midwives, paramedics, or early childhood educators.

The gross income of the participants must be no more than $90,000 for singles and $120,000 for couples.

Participants must purchase a property priced less than $950,000 in Sydney and major regional centres including Newcastle, Lake Macquarie, Illawarra, Central Coast, and North Coast of NSW.

The price cap is a maximum of $600,000 in other regional areas.

Further, to be eligible for the scheme:

  • Participants must be at least 18 years of age.
  • Be an Australian or New Zealand citizen, or a permanent Australian resident.
  • Have a minimum deposit of 2% of the purchase price.
  • Occupy the property as their principal place of residence.
  • Participants must not currently own any land or property.
  • Participants must not be able to service the mortgage without the Government equity contribution.


Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.

Update resultsUpdate
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkCompare
6.04% p.a.
6.06% p.a.
Principal & Interest
Featured 4.6 Star Customer Ratings
  • No monthly or ongoing fees
  • Unlimited free redraw
  • No application fee
5.99% p.a.
5.90% p.a.
Principal & Interest
Featured Apply In Minutes
  • No application or ongoing fees. Annual rate discount
  • Unlimited redraws & additional repayments. LVR <80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
6.14% p.a.
6.16% p.a.
Principal & Interest
Featured Unlimited Redraws
  • No annual fees - None!
  • Get fast pre-approval
  • Unlimited additional repayments free of charge
  • Redraw freely - Access your additional payments when you need them
  • Home loan specialists available today
Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of . View disclaimer.

Image by Maya Roberts via Unsplash

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