A Keychain With A House On It, Representing Atlantis Beach.

Keystart was set up to help West Australians who might not qualify for a home loan from one of the traditional lenders – particularly for first home buyers.

Keystart Frequently Asked Questions:
Must I live in the property?

Yes. Under the terms and conditions of the Offer to Borrow and the Keystart mortgage you are required to occupy the property as your principal place of residence.

If there are circumstances that may require you to vacate the property for any length of time (such as being transferred by your work or illness) you must contact Keystart to obtain permission.

I have owned a property before can I apply?

Yes, you can, provided you no longer own any other property at the time of application.

Subsequent home buyers are eligible for up to $2,000 fee assistance which will be available to assist with any shortfall/fees. However, you also need to have a 2% deposit, pay the stamp duty applicable and cover the cost of any fees not met by the fee assistance at settlement.

What interest rate will apply?

Keystart’s standard variable interest rate will apply and this is available at

Why have the income limits been set at specific caps for each region?

Keystart has undertaken a great deal of research to determine the income levels that assist the greatest number of West Australians into a reasonable standard of housing. These limits are continually reviewed and will be amended if their research finds that it is necessary.

What if I have current or previous credit impairment?

If you currently have defaults, court writs or bankruptcy pending, Keystart cannot consider giving you a loan. However, depending on your situation, they may be able to place you on their education program and through Financial Counsellors WA assist you in the longer term with a home loan.

If your credit impairment has been paid, they may be able to assist but terms and conditions apply.

What if I don’t qualify for a Keystart loan now?

Keystart has an education program they can place you on if you want to improve your eligibility for a home loan – see www.keystart.com.au/useful-info/education-program for details.

What if I already own a home but want to apply for a Keystart loan as well?

Unfortunately, you cannot be considered for any Keystart products if you already own a property. Keystart assists people that do not have loan options and all Keystart products require the person to owner occupy the home for the life of the Keystart loan.

What types of properties are available under this scheme?

You can purchase an established property or build a new home through a registered builder.

Tips to Get Started

  • Have genuine savings. This means having proof of consistent savings over at least 3 months. Don’t move this money around, and make sure all your accounts are in order.
  • Have job security. When going for a loan, it is always best to have been in your job for an absolute minimum of 3-6 months. If you’re on probation, wait it out (but keep saving along the way!), and definitely do not change jobs!
  • Have a look around. Scope out what sort of home you’d like to build, get an idea of budgets and timeframes from builders, and learn all you can about building so you’re ready for the next step.
  • Have a chat. No doubt someone in your circle of family and friends has built with Keystart – so grab a coffee and ask to hear about their experience.