FREQUENTLY ASKED QUESTIONS
Learn more about Slice through some of our most commonly asked questions.
-
Yes, we strongly recommend having a legal professional review the contract to ensure you understand your rights and obligations.
-
Yes, your initial deposit, and each following installment, is held in our secure and regulated trust account until settlement.
-
Developers sometimes make minor adjustments during construction - your contract will specify what types of changes are permitted and what rights you have if major alterations occur.
-
If you choose to withdraw from the purchase, any payments made will be forfeited just like a regular deposit. In this situation, contracts will be mutually terminated and the property will be relisted on the market. We recommend speaking to a legal professional to ensure you fully understand your rights.
Contracts
-
With Slice, you can secure a property with just a $10,000 deposit. This is the initial payment to get started, and the remaining balance of the required 10% deposit is paid off in interest-free instalments as construction progresses.
-
After your $10,000 deposit, you will make weekly, interest-free payments towards the remainder of the 10% deposit over the construction period. These payments are flexible to help you manage your budget.
-
Slice offers a unique opportunity to buy properties that need to be built, allowing you to take advantage of the construction timeline. Our process applies to a variety of property types, including off-the-plan apartments, townhouses, house-and-land packages, and land registration. If you're interested in a specific project that isn't listed, don't hesitate to reach out to our team. We'll do our best to assist you in finding the right fit.
-
To ensure you’re well-prepared for homeownership, we’ve created a simple qualification process to help you understand your ability to manage weekly payments and your chances of securing financing at settlement. This process is completed before you sign any contracts, so you’ll have a clear understanding of your eligibility.
-
No - we will make sure you are eligible and qualify to purchase the property before contracts are signed. Typically we look to secure pre-approval 3 months before completion of the property.
-
The remaining 10% deposit is paid off in weekly interest-free installments over the course of the development. The payment schedule will be outlined in your agreement, based on the estimated construction timeline.
-
Yes, Slice is designed to help both first-time homebuyers and investors access property ownership with a smaller initial deposit and flexible payment plan.
-
You officially own the property once the full deposit is paid and settlement occurs, which typically happens once the construction is complete.
-
Yes, you can make extra payments towards your deposit at any time if you’d like to pay off the balance sooner or reduce the total amount remaining.
-
Yes, all payments are interest-free. This allows you to save and pay off the deposit over time without the added burden of interest charges.
-
If construction is delayed, your payment schedule will be adjusted accordingly, and you will be notified of any changes. We work with developers to ensure that the process stays on track, but we understand that delays can happen.
How Slice works
-
No, there are no fees for you to pay when using Slice. From the moment you register on our platform to when you settle on your new home, our service is completely free for you.
-
Slice is paid by developers, not by homebuyers. Developers pay for the benefits of using our platform, allowing us to offer you a seamless and cost-free experience throughout the buying process.
-
No hidden charges! Everything from signing up to finalising your purchase is free of charge. The only costs you'll incur will be the deposit payments outlined in your agreement, which are paid directly to the developer.
-
Item descriptionSlice earns its revenue from developers who pay for the use of our platform. This allows us to provide a fee-free service to homebuyers while still offering value to developers.
-
There are no fees for making extra payments or paying off your deposit early. You’re free to contribute more towards your deposit without any added charges.
Fees and charges
-
No, applying for Slice does not impact your credit score. However, as with any financial commitment, it’s important to ensure you can meet your payment obligations.
-
Not necessarily. While pre-approval isn’t required to start with Slice, we recommend speaking with a mortgage broker or lender early to understand your borrowing capacity when the property is ready for settlement.
-
Slice helps you pay your deposit in instalments before construction is complete. Once your home is ready, you’ll need to secure a home loan for the remaining balance, just like a traditional purchase.
-
If you’re unable to obtain financing, there may be options to extend or restructure your payments, subject to developer and lender approval. However, as with any property purchase, it’s important to plan ahead and ensure you’ll be able to secure a loan when needed.
-
Yes! Using Slice does not affect your eligibility for programs like the First Home Owner Grant (FHOG) or First Home Loan Deposit Scheme (FHLDS). Keep in mind that most grants are paid at settlement, so they won’t cover your initial deposit payments.
-
Eligibility is assessed on a case-by-case basis. While having bad credit won’t automatically disqualify you, you’ll need to demonstrate the ability to make your deposit payments and secure a home loan when required.
Finance and credit
-
You’ll pay an initial $10,000 deposit to secure the property. After that, you’ll make weekly, interest-free payments towards the remainder of the 10% deposit over the duration of the property’s construction.
-
Your first payment will be the initial $10,000 deposit, followed by weekly payments towards the remaining 10% deposit. These payments begin once you’ve signed your agreement and are made until the construction is complete.
-
Payments are made on a weekly basis, and you can easily set up automatic payments through our platform for convenience. You’ll receive reminders for each payment due.
-
Yes, you can make additional payments at any time and pay off your deposit early if you prefer. There are no fees or penalties for paying ahead of schedule.
-
No, you don’t make any payments directly to Slice. All your payments go directly to the developer, and Slice is paid by the developer for the use of our platform.
-
If you miss a payment, it’s important to contact us right away. We may be able to assist with adjusting your payment schedule or working out a solution to keep your purchase on track.
-
If you're unable to meet your payment schedule, it's important to contact us as soon as possible to discuss potential options. Depending on the situation, we may be able to assist you in managing your payments or offer alternative solutions.
-
No, the payments are completely interest-free. You pay only the agreed-upon deposit amount, with no added interest or fees throughout the construction period.
-
You’ll receive a detailed payment schedule upon signing your agreement, outlining the amount and due dates for each weekly payment. You’ll also get reminders leading up to each payment.
-
Yes, you can make larger payments if you wish to reduce your balance more quickly. There are no restrictions on how much you can pay above the weekly amount.
-
The final payment is due when the construction is complete, and the remaining balance of your deposit is paid. This will be outlined in your agreement, and you’ll receive a notice when it’s time for the final payment.