DEPARTMENT OF HOUSING Home buyer initiative Eligibility information The Northern Territory Government is committed to providing opportunities for low to middle income earners to buy their own home in the Territory. To be eligible to apply to purchase a property through the Real Housing for Growth home buyer initiative, you must: be a natural person (not a trust or company), 18 years of age or over be an Australian citizen or permanent resident of Australia not currently own another property or share in a property in Australia (this also applies to your spouse/defacto partner) have a satisfactory pre-approval letter of fi nance to assist you if you purchase a property through the home buyer initiative not exceed the maximum income limits not currently be a party to a contract of sale for the purchase of any house, land or unit (or combination) have submitted a successful home buyer initiative eligibility application form with the required supporting documents to NT Home Ownership. Please note: The Northern Territory Government cannot guarantee you will be able to buy an property through the home buyer initiative if you are assessed as eligible. This could be because there are not any properties available that meet your needs or within your required price range. In some circumstances there may not be any properties available for purchase through the home buyer initiative. What are the maximum income limits? Household size Maximum income limit 1 $80 000 2 $97 500 3 $105 000 4 $112 500 5 $120 000 6 or more $127 500 Household size is the number of people, including children, in your household. For example, a couple with three children is a household size of fi ve. The maximum income limit is based on the total assessed income before tax (gross income) per annum for the household. Some Centrelink Income is not included when assessing household income, such as Family Tax Benefi ts Part A and B. Where can I get an affordable housing eligibility application form? To download the home buyer initiative eligibility application form visit or alternatively you can call 8999 8471 and ask for an application pack to be sent via post. How will I know if my application is successful? After you have submitted your home buyer initiative eligibility application form it will be assessed by NT Home Ownership. After the assessment has been completed applicants will be notifi ed of the outcome in writing. More information? For more information call NT Home Ownership on 8999 8471 or visit
DEPARTMENT OF HOUSING Home buyer initiative Frequently asked questions What is the Real Housing for Growth home buyer initiative? The Territory Government s Real Housing for Growth home buyer initiative enables eligible Territorians to have an opportunity to purchase properties made available through the Northern Territory. The properties offered for sale are generally either pre-constructed homes or house and land packages. How can I find out if I am eligible? To find out if you are eligible to purchase a property through the home buyer initiative you must complete the eligibility application form. There are specific eligibility criteria that applicants must meet including meeting income limits and having pre-approved finance. The eligibility criteria are set out in the eligibility checklist. How do I apply? If you want to apply to have your eligibility assessed to buy a property through the home buyer initiative, you will need to complete and submit the eligibility application form. By submitting an eligibility application, you will be assessed against the required eligibility criteria for the Real Housing for Growth home buyer initiative. What happens after I have submitted my application? After you have submitted your application it is assessed by NT Home Ownership, a business division within the Department of Housing. The eligibility application form does not constitute a mortgage or loan application. NT Home Ownership has the discretion to determine whether an applicant is eligible to access properties through the home buyer initiative. Once your application has been assessed, you will receive a notification from NT Home Ownership informing you of the outcome of your application. If you are confirmed as eligible, you will have the opportunity, as an approved purchaser, to buy an available property that is of equal or lesser value to your pre-approved purchase price. What supporting documents do I need to supply with my application form? You will be required to provide documentation to support your application. This information includes payslips, tax returns and tax assessment notices, identification and evidence you have finance available to complete the purchase of a property available through the government s home buyer initiative. Full details of what information you need to provide are outlined in the application checklist attached to the application form.
Where do I lodge my application? All applications can be submitted by: email to housingsales@nt.gov.au in person by making an appointment by phoning 8999 8471. Do I have to have finance arranged before I apply? Yes, you will be required to provide evidence that you have sufficient funds available to purchase a property. You will need to provide a letter from your chosen financier confirming the amount you have been approved in principle to borrow. If you are also using some of your own funds, you will need to provide a copy of your current bank statement showing the amount you have available to put towards your purchase. Why do I need my finance approved in principle before I apply? The Contracts of Sale for home buyer initiative properties will not always have a finance clause in them, so you need to ensure that you can get the finance necessary to buy your chosen property before you sign the contract. Can I update my application after I have submitted it? You are able to update your application at any time. To update your application details, contact NT Home Ownership on 8999 8471 or email housingsales@nt.gov.au. No change can be made to the applicants without the consent of NT Home Ownership, which may be withheld in its discretion. This includes removing or adding an applicant. How will I know if my application has been successful? NT Home Ownership will notify you in writing to advise if, based on the assessment of your application, you are eligible to access properties through the Territory Government s home buyer initiative. If you are not confirmed as eligible, NT Home Ownership will advise you in writing, including the reason why you are ineligible. What is my maximum purchase price? Your maximum purchase price for a property available through the home buyer initiative will be the total of the funds you have available to complete the purchase of a property. This will be based on the funds you have approved through your home loan, any of your own savings, Government grants such as the First Home Owner Grant and any gifted money you have available. You will also need to take into account any other fees you will need to pay, such as the establishment fee for your home loan, conveyance costs, stamp duty and Mortgage Insurance premium when calculating the total maximum amount you have available for a purchase. You should talk to your financier about these added costs. I am applying for my home loan through a mortgage broker. Will a letter from them be enough for my application? A letter from your mortgage broker is not enough. You are required to provide an approval in principle letter from your financier. If you are applying for finance through a mortgage broker, the broker will be able to provide you with an approval in principle letter from the financier who approves your home loan. How much can I borrow to purchase an affordable housing property? You are responsible for obtaining your own finance to buy a property through the home buyer initiative. Being eligible to purchase through the home buyer initiative does not necessarily mean you will qualify for home financing or will have sufficient borrowing power to purchase a property that is made available through the program.
Getting an in principle loan approval from your chosen financier will provide you with a price guide of the properties you can afford to purchase. Is there any time limit for me being an approved purchaser? You will only hold your approved purchaser status for a period of 90 days. This is because most financiers will only provide an approval in principle for finance for a maximum period of 90 days. Once the 90 day period expires, and you have not purchased a property through the home buyer initiative, you will be removed as an approved purchaser. Can I have my 90 day approved eligible purchaser status extended? If you have been unable to locate a suitable property or are unable to purchase within the 90 day period, you can apply to have your approved eligible purchaser status extended. To do this, you will be required to get your financier to confirm your approval in principle finance and provide NT Home Ownership with a new letter from them. You will also be required to provide updates on your income. You will notified no less than 30 days before your approved eligible purchaser status is due to expire, so you can arrange the updated information. Am I guaranteed to be able to buy a property through the home buyer initiative if I am an approved eligible purchaser? The Northern Territory Government cannot guarantee you will be able to buy a property through the home buyer initiative if you are assessed as eligible. This could be because there are no properties available that meet your needs or within your price range. In some circumstances, there may not be any properties available for purchase. The Northern Territory Government endeavours to provide a range of property options with various designs and prices. How do I chose and buy a property? When you are an approved purchaser, you will have access to any property which is currently available through the home buyer initiative within your approved price range. All properties which are currently available are advertised through When you find a property you wish to buy, you will contact the developer s agent to: organise a time to view the property and/or plans if a new construction, and obtain a contract of sale for the property if you wish to purchase it. Will I have to pay a deposit if I chose a property? You will be required to pay a deposit of $2000 to the developer or their nominated selling agent when you sign a contract of sale for a property offered through the home buyer initiative. The contract will be for either the purchase of a constructed property or the land portion of your house and land package. What if there are no properties currently available that I want to buy? Successful applicants will be entered into a pool of approved purchasers. When new properties are made available for purchase, all approved purchasers in the pool will be automatically notified. How are the properties sold to approved purchasers? All properties available through the home buyer initiative will be sold to approved purchasers on a first come, first served basis. Properties will not be made available for purchase by anyone who has not submitted a successful eligibility application and is not an approved purchaser.
Do I need to have a conveyancer or solicitor before I apply? You will not need to have a conveyancer or solicitor to handle your property purchase when you initially apply to become an approved purchaser. However, it is strongly recommended that, once you are an approved eligible purchaser and before you select a property, you do employ the services of a conveyancer or solicitor to assist you with your purchase. How many properties am I eligible to purchase through the home buyer initiative? You can purchase only one property through the home buyer initiative. When you sign a contract of sale to purchase a property, you will automatically be unable to purchase another property through this initiative. Can I change the applicants on my application after I am approved? Only approved purchasers are able to sign a contract of sale for a property offered through the home buyer initiative. If your circumstances change and you wish to change the name of applicants of your application form, by either adding someone onto your application or taking someone off your application, you must re-submit a new application and be re-assessed. I don t understand some of the words and terms used in the application pack. To help you understand some of the terms used in the application pack, refer to the glossary. If there is any other information you are not sure about, please call NT Home Ownership on 8999 8471.
Department of Housing Home buyer initiative Eligibility application Applicant one Title Surname Given names Former names Date of birth / / Martial status (please tick) Married Single Defacto Separated Divorced Widowed No. dependants Ages Residential address Applicant two Title Surname Given names Former names Date of birth / / Martial status (please tick) Married Single Defacto Separated Divorced Widowed No. dependants Ages Residential address Postal address Postal address Wk phone Hm phone Wk phone Hm phone Mobile Mobile Email address Email address Employment history - applicant one Current employer Occupation Employer address Time at current employer - years months Contact no. Other employer (i.e. second job) Occupation Employer address Time at other employer - years months Contact no. If self-employed, please state the name and nature of your business How long have you been trading? years months 1
Income details Have you provided: Gross weekly income $ Full tax return Two current payslips Net weekly income $ Tax assessment notice Self employed - have you provided: Personal and business income tax returns and tax assessment notices for the last fi nancial year Year to date profi t and loss statement prepared by your accountant for the current fi nancial year until the last completed month of business Employment history - applicant two Current employer Occupation Employer address Time at current employer - years months Contact no. Other employer (i.e. second job) Occupation Employer address Time at other employer - years months Contact no. If self-employed, please state the name and nature of your business How long have you been trading? years months Income details Have you provided: Gross weekly income $ Full tax return Two current payslips Net weekly income $ Tax assessment notice Self employed - have you provided: Personal and business income tax returns and tax assessment notices for the last fi nancial year Year to date profi t and loss statement prepared by your accountant for the current fi nancial year until the last completed month of business Ownership details Do you or your spouse currently own property in Australia? Yes No Have you, or your spouse previously owned property in Australia? Yes No Have you, or your spouse entered into a Contract of Sale for a property within Australia? Yes No Conveyancer or solicitor details (if known) Conveyancer or solicitor name Contact no. or email address Please note that you will need to have your conveyancer or solicitor details available should you sign a Contract of Sale for a property offered through the Real Housing for Growth home buyer initiative. 2
Maximum purchase price What is your maximum purchase price? $ Please note, your maximum purchase price is based on the amount available through your approved fi nance, own funds / deposit and any grants or gifts available to you, less any fees or costs you will need to pay to obtain your fi nance, e.g. Mortgage Insurance, application fee and stamp duty. The Department of Housing reserves the right to seek additional verifi cation to confi rm your maximum purchase price. Other information The below information is required for statistical purposes. Where did you hear about the Territory Government s home buyer initiative? Website Word of mouth Newspaper Radio / Television Bank / Mortgage broker Department of Housing Real Estate Agent Other Do you identify yourself as being Aboriginal or Torres Strait Islander? Yes No Is English your fi rst language? Yes No Privacy statement Your privacy is important to the Department of Housing. Information you provide in an application to access the Real Housing for Growth home buyer initiative is collected, held, used and disclosed for the purpose of assessing your eligibility for potential access to a property through this initiative. When you submit this application, your details will be registered on the Department of Housing database which will be used by the department to administer and manage the access to home buyer initiative properties. If you are assessed as being eligible, some of your personal information will be provided to the land developer and/or nominated selling agent so they can keep you informed of any future properties that may become available through the Real Housing for Growth home buyer initiative. Your information may also be disclosed to other organisations to confi rm your eligibility for access to the home buyer initiative (eg. Territory Revenue Offi ce or Lands Titles Offi ce). By signing this application, you are consenting to the use and disclosure of your personal information in accordance with this privacy statement and the Department of Housing s generally available privacy policy. To the extent of any inconsistency between a party s generally available privacy policy and the privacy statement contained in this application, the terms of the privacy statement in this application will take precedence. Disclaimer Applicants that accept one of the home buyer initiative offers do so at their own risk. The Department of Housing and other Northern Territory Government agencies give no warranties, representations or assurances in relation to any property made available through the Real Housing for Growth home buyer initiative (including but not limited to warranties, representations or assurances as to the quality, suitability or market value of such properties). 3
Declaration I / We confi rm that I / we wish to apply for potential access to a property made available through the Northern Territory Government s Real Housing for Growth home buyer initiative. I / We confi rm that the information contained in this application is true, correct and complete. I / We confi rm that any property I/we may be able to purchase as a result of this application is intended to be occupied by me / us as my / our principal place of residence. I / We confi rm that I / we are Australian citizens or have permanent residency in Australia. I / We authorise the Department of Housing to obtain information about our credit application from our credit provider (as detailed in our approval in principle letter). Applicant one signature Date / / Applicant two signature Date / / The information contained in this application is collected by the Department of Housing for the purposes of assessing your eligibility for potential access to a property offered through the Real Housing for Growth home buyer initiative. Failure to provide the information in full may result in your application being unable to be processed. If you have any queries or wish to access the information provided in this form please contact the Information Act Administration Offi cer at the Department of Housing on (08) 8999 8490 or write to GPO Box 4621, Darwin, NT, 0801. For details of what information you are required to provide with this application, please refer to the checklist attached to this application. 4
Application checklist All applications to determine eligibility to purchase a property offered through the Real Housing for Growth home buyer initiative will be assessed by the Department of Housing and the following documents must be submitted with your application. Required documents All applicants Signed and fully completed application Current Centrelink Income Statement (if applicable) 100 points of identification (birth certificates, passports, drivers licence etc.) Proof of permanent residency (if applicable) Approval in principle letter from your financial institution containing all the following details: your name and address amount of loan approved date of approval maximum purchase price amount available to you any conditions the approval is subject to (e.g. satisfactory licensed valuation) evidence of own funds available to complete the purchase of an home buyer initiative property (e.g. savings account statement, statutory declaration from the person providing gifted funds) Wage and salary earners Two current payslips for all employers Personal tax return and tax assessment notice for the last financial year Self employed, companies and partnerships Full balance sheet and accounts and interim profit and loss statement for current financial year to the last completed month of trading prior to application date Full personal tax return and tax assessment notice for the last financial year Full business tax return and tax assessment notice for the last financial year if separate return submitted to the Australian Tax Office Invalid applications Applications will be invalid if: they are incomplete or inaccurate they contain false or misleading information more than one application per household is submitted the forms or supporting documents are not legible, or supporting documents required for the assessment, as outlined above, are not provided. For more information contact the Department of Housing on 8999 8471 or email housingsales@nt.gov.au 5 Updated: 03/13
GLOSSARY Applicant this is all people listed on the application form for a home buyer initiative property who meet the required eligibility criteria. Where the applicant is two or more people, a reference to applicant is a reference to all of them. Approved purchaser these are the applicants who are assessed by NT Home Ownership and are confirmed to meet all the eligibility criteria to be offered a potential opportunity to purchase a property through the government s home buyer initiative. Assessed income the total of all income amounts received annually by each applicant. Amounts received are before taxation, levies and expenses and include monies received from wages, salaries and superannuation and profit and loss for those who are self employed. Not all income types (such as Centrelink Family Tax Benefits) are included as assessable income. If you are unsure please contact NT Home Ownership on (08) 8999 8471 or email housingsales@nt.gov.au for further information. To calculate the total household s assessed income, applicants must refer to individual Australian Taxation Office taxation returns for the last financial year and income records for the current financial year. Developer the company or organisation that has entered into a development agreement with the Northern Territory Government to convert raw land into construction ready housing, commercial or industrial building sites, and includes the land developer s nominated sales agent or agents. Home buyer initiative eligibility application the application form and information sheets included in this kit. Home buyer initiative property the properties (whether they are vacant land, house and land packages or any other dwelling) allocated to the Northern Territory Government s home buyer initiative in the Northern Territory. Updated: 03/13