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.