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Co-ownership

Own your first home together

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Interest Rate: From 5.69% p.a. (P&I at 80% LVR) (1)

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Comparison Rate: From 5.69% p.a. (1)(2)

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Max Loan to Value Ratio: 90% (1)

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Own your first home together

Co-ownership is when two or more people join forces to buy a property, each owning a specific percentage of the home. This arrangement allows co-owners to share both the responsibilities and benefits of owning a property, making it easier to buy in desirable areas and manage the financial obligations of homeownership. With rising property prices and the challenge of affording a home on a single income, co-ownership has become a popular way for many people to enter the property market.

The benefits of co-ownership

Whether you’re buying with friends, family members or partners, co-ownership gives you the opportunity to own property in areas that align with your lifestyle and needs without the full financial burden falling on one person.

CO-OWNERSHIP FEES

Application Fee
$ -
Annual/Monthly Fee
$ -
Valuation Fee (5)
$ -
Legal Preparation Fee
$ -
Settlement Fee (3)
$ 395.00
PEXA Fee (3)
$ 66.33
Government Charges (3)
At Cost
Disbursements (3)
$ 150.00
Discharge Fee (4)
$ 595.00
Unlimited Transactions (No Fees)
Bpay; Pay Anyone; Direct Debit / Salary Crediting

Disclaimer

1 Rates shown apply to new eligible owner occupied loans only, up to 80% LVR, loan amount min of $150k, up to max of $2m and at least one applicant is on PAYG employment. Rates are subject to change without notice. Existing borrowers may have different interest rates which are dependent on the rate offered to the borrower at the date when a home loan settled and any reductions or increases the lender decided to make on the existing loan overtime. Accordingly, there is not one standard variable rate that applies to all Homestar home loans and existing customers can confirm their current rate(s) by logging in to internet banking or by contacting customer service. Terms, conditions, and eligibility criteria apply.


2 Comparison rates are based on a basic Homestar loan, on a $150,000 loan amount over 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.


3 Third party cost(s) incurred by service provider(s) are payable and may vary or increase depending on the service provider, nature of the service and request. Any additional cost(s) are passed on directly to the applicants(s). If there is a variation or an increase, a separate quote will be provided.


4 Discharge fee is waived if loan reaches full term as per the loan agreement.


5 For Metro locations under $1m.

Other fees and charges may apply.

Your Guide to Affordable Homeownership

1

Meet Your Coach

Let us pair you with a dedicated home loan coach. They’ll provide  guidance to help you through the home buying process.

2

Create a Savings Plan

Your coach will estimate your borrowing power and provide budgeting advice, made easy with our MFL Success Tracker app, so you can save confidently for your new home.

3

Get Your Loan

When you're ready, apply for and secure the loan you need to purchase your first home.

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Join Our First Home Masterclass

Discover how to break through the barriers to homeownership with a better loan

Own Your Home, Sooner Than You Think

With My First Loan, we help you get in with a smaller deposit and guide you every step of the way. We make homeownership a reality for those who feel shut out by the big banks
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