Home lending

04/01/20

2020 – New First Home Buyers Scheme

First Home Buyers will have an opportunity to enter the property market with a smaller deposit under a New Federal Government (new home loan deposit) Scheme which commenced 1st January 2020. Under the scheme, first home buyers with a deposit as small as 5% may be able to apply for a mortgage, which the government […]
13/09/19

Deposit gap scheme opens the door to home ownership: UDIA’s Connie Kirk

 The introduction of legislation giving effect to the Commonwealth Government’s deposit gap scheme is the first step in easing the pathway to home ownership. The scheme – promised on the eve of the federal election – helps reduce barriers to home ownership by closing deposit savings requirement and effectively reducing mortgage insurance costs. We welcome […]
23/08/19

Non Bank Lenders emerging to help new home owners

Tighter lending standards introduced after the Royal Commission have put banks under the spotlight. This, as well as efforts by the Australian Prudential Regulation Authority (APRA) to slow growth to investment lending, have made it difficult for borrowers to get a home loan. This crackdown is in place to reduce the likelihood of customers defaulting […]
23/05/19

Finally a First Home Owner Loan Deposit scheme

Prime Minister Scott Morrison has announced a new First Home Loan Deposit Scheme that will enable first home buyers to access a mortgage with a 5 per cent deposit. Mr Morrison said: “It can take nine to 10 years for an average household to save a deposit. We want to help Australians realise the goal […]

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