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Home loans / Property Share

What is Property Share?

Want to share your property costs with someone else? Property Share allows you to split the cost of buying a home with family and friends, while retaining individual control of your finances.

All Property Share borrowers must be owners of the property and guarantee each other’s home loan(s) as security. A maximum of two home loan applications per security is allowed, but each application may have multiple borrowers or multiple loan products (such as a split loan). 

Property Share is available for individuals, non-trading companies and/or family/unit/hybrid trusts who take out one of our Standard Variable Rate, Simple Home Loan, Fixed Rate or Extra home loans.

Property Share cannot be used for business purposes, bridging loans, land purchase or building and construction loans.

Features & benefits

  • Convenience

    • Pool your money with friends or family to buy your first home or enter the market as a property investor
    • You may be able to buy a bigger or more expensive property than  you would otherwise be able to afford on your own

  • Flexibility

    • Split the costs of your home any way you like and let each borrower decide how they want to manage their loan repayments
    • Each borrower can access a range of features including redraw facilities, mortgage offset accounts and lines of credit

Things to consider

    • By going into a Property Share agreement you are providing a guarantee, which can involve serious financial risk to you if the other borrower(s) can’t meet the terms and conditions of their loan contract. Your credit report may also be negatively impacted
    • We strongly recommend you seek independent legal and financial advice before providing a guarantee to understand your risks, obligations and potential impact on your financial situation

How to apply

    • Each borrower must be an owner of the property (no third-party guarantors) and show they can repay their portion of the home loan (prove servicing of the loan)
    • You’ll need to guarantee each other’s loans as security support
    • You must seek legal advice and all sign a Statutory Declaration form before entering into a Property Share agreement

    For more details about Property Share, you can make an appointment with a Home Lending Specialist online, contact us, or visit your closest branch.

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Tools & support

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Things you should know

  • As this advice has been prepared without considering your objectives, financial situation or needs, you should consider its appropriateness to your circumstances before acting on the advice. You should also read our Financial Services Guide.