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Update from Keystart.

The State Government has been working with Keystart regarding its current governance arrangements. As part of the Government Trading Enterprise (GTE) reforms, legislation for the establishment of a new Keystart GTE was recently introduced to Parliament.

The main purpose of the GTE reforms is to standardise how government organisations operate and conduct reporting. 

This update is to keep you informed about the establishment of the Keystart GTE and to highlight that the legislation has now been passed by parliament. We will provide you with a further update when we know what date the Keystart GTE will begin operating.

The GTE process is largely administrative in nature, and you shouldn’t notice any changes to your loan or your relationship with us once the GTE begins operating. We remain committed to our vision of supporting more Western Australians into affordable home ownership. 

We have created some FAQs on our website to help, but if you have any questions, we encourage you to reach out.

Frequently asked questions.

  • Q I’ve read that Keystart will have a broader range of powers, including the ability to fund housing developments; what does this mean for customers?
    A
    Keystart’s ability to potentially fund housing developments in future won’t have any impact on Keystart’s current or future home loan customers. This change simply ensures Keystart’s legislation is designed to allow it to play a broader role supporting housing outcomes for Western Australians, if needed in the future. It highlights that Keystart will continue to play an important role in the Western Australian housing market.
  • Q What is Keystart’s current structure?
    A
    Keystart currently operates as a private company under the Corporations Act 2001 (Cth) with the Housing Authority as its sole shareholder. 
  • Q What is the main benefit of establishing the Keystart GTE?
    A
    Establishing the Keystart GTE will strengthen and standardise our governance and reporting arrangements with State Government. It also provides more flexibility for Keystart to consider other strategies to assist more Western Australians into housing, including being able to fund housing developments. 
  • Q What does this mean for customers?
    A
    You shouldn’t notice any changes to your loan or your relationship with us as the GTE process is largely administrative in nature. Our priority is on ensuring a seamless transition and we remain committed to our purpose: supporting more Western Australians into affordable home ownership. 
  • Q Will there be changes to customer service?
    A
    There will be no changes to our existing products or services because of the establishment of the Keystart GTE. 
  • Q Will my home loan be impacted during the change?
    A
    Apart from an update to reflect that your home loan is now with the newly established Keystart GTE, you shouldn’t experience any other changes to your loan or the service you receive because of the transition. Our customers remain our priority, and the focus is on ensuring a seamless transition. 
  • Q Is there a risk that processes will become slower and lengthier for me?
    A
    No, there are no expected impacts to customer service or how you engage with us. Providing the best experience to our customers remains the priority. 
  • Q I’ve just moved into my new home, will I need to re-sign and submit any Keystart documents?
    A
    No, the change does not require Keystart’s home loan contracts to be re-signed. We will share relevant updates to keep you informed, but no action will be required by you.
  • Q Will there be changes to Keystart loans or the number of loans approved and the approval processes?
    A
    There are no expected changes to our existing functions, processes or products. We remain committed to our vision, to make the dream of affordable home ownership a reality for more people. Delivering on this is still our key focus and will continue to be. 
  • Q I have a Rural Home Loan through the Country Housing Authority. Will this change my loan?
    A
    As part of this process, the Country Housing Authority will be wound up and the Keystart GTE will act as lender in relation to all existing Country Housing Authority loans. There will be no impact or disruption to Country Housing Authority customers. Keystart currently administers the operations of the Country Housing Authority through a services agreement. The wind up of the Country Housing Authority will achieve administrative efficiencies by removing the need for a separate Board and reporting requirements for the relatively small amount of existing loans in place. You will not have to take any action as part of this change, and you shouldn’t notice any other changes to your loan or the service you receive from us.
  • Q Why is this change happening?
    A
    The State Government is currently working with Keystart regarding its current governance arrangements. As part of the Government Trading Enterprise (GTE) reforms, legislation for the establishment of a new Keystart GTE was recently introduced to Parliament.