❓ Dr. Steve Thomas questions the Minister for Housing regarding the Keystart shared ownership home loan scheme, receiving detailed data on loan numbers, types, refinancing activity, and interest rates.
AnsweredQoN 160Legislative Council
QuestionView source ↗
HOUSING
— KEYSTART
160. Hon Dr STEVE THOMAS to the Leader of the House representing
the Minister for Housing:
I refer to the
Keystart shared ownership home loan scheme.
(1) As at 30
April 2021, how many shared ownership home loans does Keystart administer?
(2) Of this
number of shared ownership home loans, how many loans are flexible shared
ownership loans and how many are fixed shared ownership loans?
(3) Over the past
four financial years, how many borrowers have refinanced their properties or
bought more shares in their properties?
(4) How many of the shared ownership loans currently
administered by Keystart were funded at the maximum 30 per cent of
purchase price?
(5) What is the
current interest rate applied to Keystart shared home loans?
— KEYSTART
160. Hon Dr STEVE THOMAS to the Leader of the House representing
the Minister for Housing:
I refer to the
Keystart shared ownership home loan scheme.
(1) As at 30
April 2021, how many shared ownership home loans does Keystart administer?
(2) Of this
number of shared ownership home loans, how many loans are flexible shared
ownership loans and how many are fixed shared ownership loans?
(3) Over the past
four financial years, how many borrowers have refinanced their properties or
bought more shares in their properties?
(4) How many of the shared ownership loans currently
administered by Keystart were funded at the maximum 30 per cent of
purchase price?
(5) What is the
current interest rate applied to Keystart shared home loans?
AnswerView source ↗
I thank the
honourable member for some notice of the question.
(1) Keystart
administers 3 810 shared ownership home loans.
(2) There are 175
fixed loans and 3 635 flexible loans.
(3) Since 1 July
2017, a total of 883 loans have closed or been refinanced and 29 borrowers have
bought more shares.
(4) As at 30
April 2021, 733 loans had a 30 per cent Housing Authority share.
(5) Keystart's interest rate setting policy is
to adjust rates in line with the average standard variable rates offered by
the big four banks. Interest rates are only one component of the total cost of a
home loan and although Keystart's interest rate is not the lowest in
the market, it is comparable with the rates that a buyer with a minimal deposit
or equity will be offered by other lenders at 4.54 per cent.
honourable member for some notice of the question.
(1) Keystart
administers 3 810 shared ownership home loans.
(2) There are 175
fixed loans and 3 635 flexible loans.
(3) Since 1 July
2017, a total of 883 loans have closed or been refinanced and 29 borrowers have
bought more shares.
(4) As at 30
April 2021, 733 loans had a 30 per cent Housing Authority share.
(5) Keystart's interest rate setting policy is
to adjust rates in line with the average standard variable rates offered by
the big four banks. Interest rates are only one component of the total cost of a
home loan and although Keystart's interest rate is not the lowest in
the market, it is comparable with the rates that a buyer with a minimal deposit
or equity will be offered by other lenders at 4.54 per cent.
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