At Norwest Quarter, we’ve partnered with Coposit to help you secure a one bedroom apartment in our Lacebark building with only a $10,000 pre-payment.

How does Coposit work?

When purchasing an apartment off the plan, you are normally required to pay a 10% deposit to secure your apartment. With Coposit, you only need a $10,000 pre-payment up front, and the balance of your 10% deposit is paid in weekly installments over the duration of the construction period.

It’s a simple step by step process:

  1. Download the Coposit App
  2. Calculate weekly payments
  3. Secure your apartment with $10k
  4. Make your weekly Coposits
  5. Track your progress on the app
  6. Settle on your apartment

Mulpha Head of Developments, Tim Spencer said,

“We all know how hard it has become for first homebuyers to get into the market, with many frustrated that by the time they have saved a deposit, the market has moved on them.

“Our partnership with Coposit will open up home ownership to a whole new demographic of buyers who may have a good income but just need help in funding their initial deposit. This will enable them to purchase off the plan and use the build time to fund the rest of their deposit.

“Equally, other qualified buyers may have a full 10 per cent deposit but can use the Coposit process to build an even stronger stake of say, 20 per cent, in their property at settlement time.

“It allows you to get ahead of the game – buying at today’s prices while saving the rest of your deposit while your home is being built. It’s tough at the moment with rising cost of living pressures and relatively low wage growth, so any help buyers can get is welcome.”

To find out more about how Coposit works and how to secure your apartment with just a $10,000 deposit book an appointment with our sales team.

*Terms and conditions apply. Only available on selected apartments. For a full list of terms and conditions click here.