Terms

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How it works

  • Secure an apartment in North Melbourne, Northcote or Preston with a 3% deposit, or as little as $10,800.
  • Get rewarded for making a larger deposit: the greater your contribution, the bigger the bonus. See below for further details.

Details

  • The initial deposit upon signing the contracts must be a minimum 3% (Minimum Deposit Amount).
  • Purchasers can make one additional deposit any time after signing, for a period of 18 months.
  • Multiple additional deposits will not be accepted.
  • Total deposits cannot exceed 10% of the contract price.
  • For deposits greater than 3%, the purchaser is entitled to a rebate that reduces the balance paid by the purchaser at settlement. The rebate will be calculated as follows:
  • 7% payable on deposited funds paid in excess of the Minimum Deposit Amount (calculated on a per annum basis), for the period commencing on the date the purchaser executed their contract to date that settlement is called in accordance with the contract.
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