More than 3000 reasons why MyHome matters

More than 3000 Tasmanians have now been supported into home ownership through MyHome - an important milestone for a program that is making a very real difference to housing security in Tasmania.

Bank of us has been the partner lender to the Tasmanian Government’s shared equity program since the program began in mid-2022, helping eligible Tasmanians overcome barriers to owning a home.

For Bank of us CEO Paul Ranson, reaching 3,000 Tasmanians is something worth celebrating - but the real story is the people behind the number.

“Helping more than 3,000 Tasmanians into a home is a milestone we’re incredibly proud of,” Paul said.

“But what inspires us most are the individual stories behind that number - people and families who now have the security of a place to call their own.

“Every one of those stories is a reminder of why MyHome matters.”

Helping more Tasmanians find a place to call home

MyHome is a shared equity program designed to help eligible Tasmanians buy or build a home sooner.

Buyers need a minimum 2% deposit, with Homes Tasmania taking an equity share in the property. This reduces the amount customers need to borrow through Bank of us and can help overcome one of the biggest barriers to home ownership - getting together the money needed to enter the market.

More than 460 MyHome purchases have involved newly built homes or house-and-land packages, meaning the program is also helping support the supply of new homes across Tasmania.

For us, though, the importance of MyHome goes beyond the numbers.

“Bank of us was established more than 150 years ago to help Tasmanians own their own homes. While Tasmania - and banking - have changed enormously since then, that purpose remains important to us today,” Paul said.

“Our goal is to use our position as Tasmania’s only customer-owned bank to have a positive impact on the lives of Tasmanians. A big part of that is helping more people achieve greater housing security.”

It can mean someone moving out of an uncertain rental situation. A family having the security to put down roots in their community. Or someone who can afford the repayments on a home loan but has found saving a deposit increasingly difficult finally having a pathway into a home of their own. 

Want to know more about MyHome?

Learn more about MyHome and whether it could be an option for you, or talk to our team on 1300 306 716.

MyHome is a Homes Tasmania initiative. MyHome eligibility criteria and conditions apply. Bank of us lending criteria, terms and conditions, including fees and charges apply. Full details are available on application.