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InvestAus

InvestAus

Mortage Broker , Sydney Region

Scott Morrison’s First Home Buyer Loan Deposit Scheme gives higher income buyers unnecessary edge

7Mo ago 0 Replies 104 Views
Prime Minister Scott Morrison’s flagship First Home Buyer Loan Deposit Scheme launched earlier this month will mostly benefit higher income earners who may not have needed as much help as poorer families, analysis reveals.
The scheme, announced just before last year’s federal election and effective January 1, allows 10,000 first-time buyers each year to purchase properties with only a 5 per cent deposit, with the government guaranteeing the loan so that buyers won’t need pricey lender’s mortgage insurance.

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