The MyHome Shared Equity Program, which was introduced on 1 July 2022, shares the upfront costs of owning your own home, and reduces the deposit you need and your mortgage repayments.

In the first 12 months of the program, 162 MyHome purchases have been made across the State.

In the South there were 97 purchases, 39 in the North and 26 in the North-West.

There were 131 purchases of existing homes and 31 purchases of house and land packages.

The program is proving popular surpassing its first-year target of 150 customers and continues to support Tasmanians into private home ownership.

MyHome is delivered by the Bank of us and is available for both singles and couples. The program helps people to build or buy their own home, with as little as a two per cent deposit.

Assistance includes a maximum contribution of $200 000, or 40 per cent, of the purchase price of a new home or house and land package, and up to a maximum of $150 000, or 30 per cent, of the purchase price of an existing home.

The program helps people achieve home ownership by reducing the costs of building or buying a home, by sharing these costs with Homes Tasmania.

For further information visit www.bankofus.com.au or phone 1300 306 716.