The State Government is now seeking expressions of interest (EOI) for the proposed divestment of up to 40 per cent of Keystart's loan book.
Keystart provides low deposit and shared equity residential home loans to eligible West Australians on low-to-medium incomes who are unable to obtain finance from private lenders.
Treasurer Mike Nahan and Housing Minister Colin Holt are inviting interested parties to submit an Expression of Interest that demonstrates your capacity, capability, experience and understanding to complete the proposed transaction.
Keystart has played a pivotal role in the Liberal National Government's Affordable Housing Strategy, which had delivered more than 20,000 homes since 2010. The Government remains committed to supporting Keystart as we set our sights on achieving 30,000 affordable homes for West Australians on low-to-moderate incomes by 2020.
There will be no change to the service levels or terms and conditions for existing Keystart customers and the transaction is not expected to impact upon Keystart's existing interest rate setting policy, lending eligibility criteria or rigorous loan assessment process.
This project offers a significant opportunity for the private sector to partner with Keystart to continue meeting its social objectives through the delivery of its highly successful affordable home loan program.
Following the evaluation of the expressions of interest, a shortlist of respondents is expected to be finalised by the end of April, with the partial divestment expected to be completed in the second half of the year.
If you are interested in submitting an expression of interest or to get more information please contact Keystart's procurement officer on 9338 3126. Alternatively you can visit http://www.keystart.com.au
EOI close at 3pm WST on March 30, 2016