With PLATYPUS and AffordAssist Deferred Deposit Solution your home ownership/ investment journey could be achieved by:
You:
5%*
AffordAssist Deferred Deposit
NO INTEREST
15%**
Home Loan:
80%
Property Purchase Price:
100%
*minimum 1% - **may vary maximum up to 15% - Home Loan up to 90% LVR (incl. LMI) refer to AffordAssist for Eligibility and details
Together
PLATYPUS is a charity registered with the Australian Charities and Not for Profits Commission (ACNC). Offers properties to purchase with the AffordAssist Deferred Deposit Solution.
Enabling you to achieve home/ investment ownership sooner
Once a property is selected, approval from AffordAssist is confirmed and a 1st mortgage loan approval is obtained, you can then proceed to settlement.
Hurstville, NSW
PLATYPUS Exclusive & Limited Allocations:
2 bed apartments and townhouse style from: $925,000
PLATYPUS is the BEST Shared Equity program in Australia:
> Initial part-deposit, to hold the property from $5,000
> Balance of deposit, from 1%^
> First Home Buyers & Owner Occupiers may defer up to 15%
> Investors may defer up to 10%
> 80% LVR loan (no LMI) or 90%^ LVR loan (incl. LMI)
> Buyer gets 100% title at settlement
> A deferred scenario at 15%, equates to $138,750 interest free
Complete and ready for occupation:
Strata: $1,576 per qtr (est.)
Council: $421 per qtr (est.)
Water: $179 per qtr (est.)
The ultimate in convenience: A selection of retail, services and eateries will surround the new Woolworths Supermarket, aims to enhance daily life for residents and the local community.
Nature at your doorstep. Kempt field, 4 acres of park
Location: Jack Brabham Drive, Hurstville NSW 2220. Inspection by appointment only. Managed directly with PLATYPUS.
^Balance of deposit and Loan LVR may vary, refer to AffordAssist for Eligibility and details.
AffordAssist
Intending Purchasers apply to AffordAssist for a “Deferred Deposit Agreement” (DDA).
The DDA is an arrangement where purchasers typically pay 10% of the purchase price over 60 equal monthly payments, without interest.
Think of, tap into the equity of property sellers willing to ‘pay it forward’.
This is achieved via an AffordAssist DDA with a willing property vendor whereby they typically defer receipt of 10% of the purchase price over a 5-year term, again without the vendor receiving any interest.
AffordAssist industry leading governance provides a proven system for managing risk, the Deferred Deposit Agreement (DDA), Settlements and the DDA payments. Thus protecting all the stakeholders.
Eligibility
Suitable for applicants with an income but not the full cash-deposit.
Eligibility to secure a Home Loan is based on the applicants annual income and outgoings including payments under the Deferred Deposit Agreement (DDA).
Together with an AffordAssist accredited mortgage broker, AffordAssist may provide approval for a Deferred Deposit Home Loan within a few days.
100% Title Ownership
Once a property is selected, approval from AffordAssist is confirmed and a 1st mortgage loan approval is obtained, you can then proceed to settlement.
At settlement the purchaser becomes the proprietor of the property. 100% Title at settlement.
Pay the deferred amount, No Interest, to PLATYPUS. Three options:
1) 'Periodically’ within 120 months. No shared equity. Limited apartments available;
2) By ‘lump sum’ PLUS the Shared Equity portion within 10 years. The Shared Equity is same proportion as the deferred deposit amount; or
3) A combination of the above.
Customer Care
Owning your own home can be one of the most rewarding life experiences, made much easier with the right team on your side.
The AffordAssist governance and service process are in place for the protection and interest of all stakeholders. Includes accredited professionals who understand AffordAssist to ensure your successful property purchase.
Right through the entire service process you are assisted by a dedicated AffordAssist customer care team member.
AffordAssist will initially determine your eligibility for the AffordAssist program, with two important forms to complete.
Customer Care
Book a short 10-15 minute Explain Service call, how Platypus Shared Equity and AffordAssist Deferred Deposit Solution may work for you. Available 7 days, 8am to 8pm. Click here