Westpac has extended its commitment for Head Start Homes for a further three years to support more Australian families with secure, safe, and stable housing.
In a statement, the big bank said the continued partnership with the not-for-profit community services organization is part of its broader strategy to increase access to housing for all Australians at a time when low-income families are needing innovative and accessible options into homeownership.
Backed by Westpac since it was established in 2017, Head Start Homes has been providing families, single parents, First Nations Peoples, and those living in social housing with practical pathways towards owning their own home, including support with savings plans and acting as guarantor on home loans for eligible clients.
“Our partnership with Head Start Homes to date has helped more than 100 families gain access to savings plans,” said Richard Burton (pictured above), Westpac’s managing director of mortgages. “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.”
“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,” Burton said.
Stephen Woodlands, managing director of Head Start Homes, acknowledged Westpac’s commitment to the organisation’s vision of a safe and stable home for everyone.
“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,” Woodlands said. “Our homeownership pathways have far-reaching positive ripple effects because home ownership is one of the best ways to reduce homelessness and intergenerational poverty.”
Head Start Homes is offering clients a range of empowerment services amidst increased cost-of-living pressures, rising interest rates environment, and a buoyant property market. These include access to dedicated savings plans, credit scores, and property coaches to support eligible clients in reaching their homeownership 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,” Woodlands said. “This can be life-changing, particularly for our clients who face significant barriers into home ownership.”
To know more about Head Start Homes, including how you can support, visit www.headstarthomes.org.au.
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