Westpac has announced an additional three years’ commitment for Head Start Homes, a not-for-profit community services organisation, to support more Australian families with secure, safe and stable housing.
As part of the bank’s broader strategy to increase access to housing for all Australians, the continued partnership with Head Start Homes comes at a time when low-income families are needing innovative and accessible options into home ownership.
Supported by Westpac since established in 2017, Head Start Homes empowers families, single parents, First Nations Peoples, and those living in social housing with practical pathways towards owning their own home.
It offers several initiatives to help with home ownership, such as supporting clients with savings plans and acting as guarantor on home loans for eligible clients.
Richard Burton, Westpac’s Managing Director of Mortgages, said extending the partnership will provide further opportunities to get more Australians into homes.
“Our partnership with Head Start Homes to date has helped more than 100 families gain access to savings plans,” he said.
“We’re confident we can help provide even more people with affordable housing options and support innovative solutions to help address the current housing affordability crisis,” he said.
“We’ve recently announced our involvement in the Australian Government’s Home Guarantee Scheme which will extend to Head Start Homes clients, and we’re also proud of our involvement with Head Start Homes in the Wollongong Recycling Home Ownership Program, with several families progressing their journey towards home ownership in the Wollongong Local Council area.”
Stephen Woodlands, Managing Director of Head Start Homes, acknowledged the ongoing support provided by Westpac in creating opportunities for the organisation to support more clients.
“Westpac has been behind us from the start with their generous and unwavering commitment to our vision of a safe and stable home for everyone,” he said.
“We’ve seen an unprecedented demand for our services over the past six months, and we know our continued partnership with Westpac is helping families move forward to financial independence.”
“Our home ownership pathways have far-reaching positive ripple effects because home ownership is one of the best ways to reduce homelessness and intergenerational poverty.”
With current cost of living pressures, rising interest rates environment and a buoyant property market, Head Start Homes offers clients a range of Empowerment Services, including access to dedicated savings plans, credit scores, and property coaches to support eligible clients in reaching their home ownership goals.
“Owning your own home is about so much more than creating financial security; it provides families with a sense of physical and emotional safety. This can be life changing, particularly for our clients who face significant barriers into home ownership.” Mr Woodlands added.
For more information about Head Start Homes, including how you can support, visit www.headstarthomes.org.