The latest First Home Buyer's Scheme

Both major political parties announce new First Home Buyer Schemes!

The ALP and LNP have announced that they will invest $25 million in the National Housing and Investment Corporation to establish the latest scheme which involves the Federal Government guaranteeing up to 15% of a property's value to enable aspiring home owners to borrow up to 95% without needing to pay thousands of dollars for Lenders Mortgage Insurance.

At this early stage details are light but what we know so far is it will be for single applicants earning up to $125,000 and for couples earning up to $200,000. The scheme is slated to begin on the 1st of January 2020.