What is the NDIS?
NDIS is the National Disability Insurance Scheme.
It started in 2016 and is a government initiative to fund the needs of Australians with disability (known as participants).
The scheme aims to help 28,000 Australians move into accessible and affordable housing called Specialist Disability Accommodation (SDA), to provide specialist dwellings that fit the requirements of people with disabilities.
The scheme takes a lifetime approach to improve the well-being of the disabled person and also their family and carers.
Cathy specialises in obtaining NDIS finance via different lending options, which is customised to suit the needs of each client. It is important to note that NDIS lending is different to normal residential and commercial lending and not every lender is open to accepting or understanding how these investments actually work.
Investing in SDA property is not for everyone, in order to be able to apply for finance you would be required to satisfy the below:
- Have approximately $250,000 as a deposit to purchase a SDA property. This can be funded by either a cash deposit or equity you have in another property.
- You will need to show the lender you earn other income, either PAYG income or Self-Employed income, you will also need to provide pay slips and tax returns to verify your income.
- The lender will want to see your personal income, assets, liabilities and expense position in order to make sure you can service your existing liabilities.
Please watch the below video which explains more on how NDIS finance works.