Our goal is to ensure that every customer we work with ends up in a better place than where they started.
If you can't obtain a home loan in years 5, 6, or 7 of your lease, we will sell the home, without charging you any sales commission, allowing you to recoup as much of your contributions as possible.
So for example, if the market value of your home had appreciated by more than 5% per year during your lease (the national average is 6.8% for houses and 5.9% for apartments: CoreLogic, 1993-2018), you will receive a full refund for all of your contributions to date including your all of of your 3% Kickstarter contribution and all weekly contributions.
If the final sale price comes out at less than 5% of added annual growth, your contributions will be reduced to make up the shortfall
Under our Future Mortgage Guarantee, the only deduction we will charge from your contributions is a $5,500 marketing fee to cover our costs for selling the property which will likely include the costs of listing the property on realestate.com.au.
Agents typically charge a 2.75% sale commission for selling residential properties, so it's not unusual to pay around $25,000 to an agent for selling a standard home.
However, under our Future-Mortgage Guarantee, we waive this fee entirely.
To be eligible, you need to apply and be rejected for a home loan by at least three lenders, with at least one of those home loans being a competitive option provided to you or referred by PublicSquare.
We will provide you with a copy of our Future Mortgage Guarantee terms and conditions before you commit to a property, giving you a chance to review any fine details. However, we keep it as simple as possible, with all the T&Cs for the guarantee fitting on one single page.