Australian First Home Buyer Scheme Expanded With Bipartisan Support

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The Australian federal government announced that tens of thousands more citizens would be able to buy a house under its expanded Home Guarantee Scheme. The scheme’s property price caps have been increased across all states and territories and the number of available guarantees has also been increased to a total of 50,000 places a year from July 1. Under the scheme, the government will guarantee up to 15 percent of a mortgage, meaning first-home buyers only need to put forward a five percent deposit to purchase a home. “People are cutting years off the time they’d need to save a deposit for a home because of this program. Now even more Australians can get into a home sooner,” Prime Minister Scott Morrison said. “Saving to buy a house has always been hard work and we know as prices have increased it’s been getting harder. ...

Source: https://www.theepochtimes.com/australia ... 12696.html