Supporting home ownership: Sandra's story

Sandra previously co-owned her family home with her former partner. Following the separation, she hoped to refinance the property into her sole name and buy out her partner's share so her family could remain in the home they knew. However, she faced challenges bridging the financial gap between the existing mortgage, available equity, and settlement requirements.

Sandra learned about the Australian Government Help to Buy Scheme through a government contact and discovered the eligibility exceptions could apply to her circumstances. She subsequently applied for support. 

Through the Help to Buy Scheme, the Australian Government contributed 30% of the property's value. This enabled Sandra to reduce the existing mortgage, refinance the remaining balance and take full ownership of the home. Without this support, she would likely have been forced to sell and would not have been able to afford suitable housing in the same area. 

Remaining in her home has allowed Sandra's children to stay at their school, maintain their routines, and remain close to their support network during a period of family transition.

Sandra lives in a three-bedroom townhouse within a secure, gated community. The complex includes shared facilities, and offers a safe, welcoming environment where her children can play and build friendships with other families.

Retaining the family home has significantly reduced stress and created a sense of stability for the future. It has also given Sandra the confidence to move forward and rebuild a future for her and her children.

For Sandra, home ownership represents security, continuity, and long-term financial stability.

"Having a home means security for my children - a place we can stay for as long as we want, in the community I want them to grow up in. It also gives me peace of mind knowing we are building long-term financial stability for our future," Sandra said.