More First Home Buyers Tap The Government To Enter The Property Market...

Growing difficulty entering the housing market has led to the most first home buyers tapping into the federal government’s Home Guarantee Scheme since its inception four years ago, according to the National Housing Finance and Investment Corporation. The scheme, which offers three types of guarantees, allows first home buyers to purchase a home with a minimum deposit of 5 per cent to avoid paying mortgage lenders’ insurance. The remaining amount for a 20 per cent deposit – which is required to be exempt from paying the insurance – is guaranteed by the federal government. The number of first home buyers […]