- New Keystart loan to help apprentices, graduates, and skilled construction workers into a home of their own
- Skilled Start Home Loan offers a low two per cent deposit, lower repayments, and free financial coaching
- Delivers on a Cook Government election commitment to support apprentices into homeownership
- Part of the State Government's effort to ensure every Western Australian has a secure home
A new Keystart loan for apprentices, graduates, and skilled construction workers will be on offer from today, providing another pathway to home ownership for younger Western Australians.
The Cook Government has today launched Keystart's new Skilled Start Home Loan, which offers a low 2 per cent deposit, no lenders mortgage insurance, lower mortgage repayments, and free financial coaching for eligible WA homebuyers.
Skilled Start delivers on a Cook Government election commitment for a new Keystart loan for apprentices and graduates.
The Skilled Start Home Loan is available for anyone who has graduated from TAFE or university, or completed their formal apprenticeship, in the past five years, as well as people working in eligible construction occupations - including bricklayers, carpenters, roof tilers, electricians, and other key trades. Keystart's standard income limits apply.
To help encourage apprentices, graduates, and tradies into home ownership, Skilled Start includes a 100 basis point discount on Keystart's standard variable interest rate - delivering savings of up to $500 per month on mortgage repayments.
Keystart will also offer free financial coaching to Skilled Start customers, to help put early career Western Australians onto a sustainable financial footing for the long-term.
Skilled Start is available for purchases of up to $750,000 for off-the-plan, under construction, and new homes, or $700,000 for established homes.
For more information, visit www.keystart.com.au/skilledstart
As stated by Treasurer Rita Saffioti:
"Keystart's Skilled Start Home Loan will open up more opportunities for apprentices, graduates, and tradies to buy a home of their own, with a low deposit, lower repayments, and free financial coaching.
"This initiative will help to put younger Western Australians on a solid financial footing at the start of their careers, setting them up for success in the long run.
"By having more local construction workers in secure homes, we can deliver even more homes for Western Australians."
As stated by Skills and TAFE Minister Amber-Jade Sanderson:
"The Skilled Start Home Loan is another way our government is supporting the workers who will build more homes for Western Australians.
"It complements our record investment in TAFE, which is delivering modern colleges and a pipeline of job-ready workers by helping them to have a home of their own.
"TAFE continues to deliver benefits for graduates, even when they're in the workforce."
As stated by Housing and Works Minister John Carey:
"This is all about helping young people get their foot in the door of the housing market, whilst also boosting overall supply by offering an incentive to be part of our construction workforce.
"We bought Fraser Suites, we've built the first of two Common Grounds, and we're backing build to rent through a range of measures.
"This new product through Keystart is yet another powerful demonstration that nothing is off the table when it comes to delivering more supply to the housing and rental markets.
"It's part of our record $5.8 billion investment in housing measures since 2021, which includes adding more than 3800 social homes in that time."
