Are you sick of being locked out of the housing market?
If you’ve been paying attention, then you’ll know that prices just seem to be going up and up and it seems to be getting harder and harder to secure rental properties.
But there are still ways to achieve the great Australian dream of owning your own home. You just need some foresight, planning and someone to guide you along the way.
If you want to chat more about your options speak with our mortgage broker partner Sarah Chambers on 0487 724 748 or sarah@lendable.com.au
Call out to single parents – break into the property market!
When marriages break down, the family home is often sold in order to distribute the assets purchased together. If this happened to you, you may have been wondering how to find a 20% deposit to get back onto the property ladder? Here’s a great new government scheme to address this very issue.
Under the scheme, up to 18% of a single parent’s home loan can be guaranteed by the government. Unlike the First Home Guarantee which requires a minimum of 5% deposit, single parents will be able to get a mortgage with a 2% deposit.
First Home Buyers can now join forces with friends, siblings and family.
From 1st July 2023, friends, siblings and other family members will be able to jointly apply for the First Home Guarantee and Regional First Home Guarantee.
People who have previously owned a home will also be eligible, on the provision they haven’t owned a property in the last 10 years, in a bid to help those who had fallen into financial hardship.
This scheme enables eligible home buyers to purchase a home with as little as a 5% deposit and without paying Lenders’ Mortgage Insurance.
Permanent Residents will now qualify for the First Home Guarantee Scheme!
Do you have Permanent Residency and looking to buy a home? The Federal Government is making it easier for Permanent Residents to purchase property here in Australia with new eligibility to access the Home Guarantee Scheme.
Officially unveiled as part of the 2023 federal budget, the expanded Home Guarantee Scheme will have broader eligibility criteria from 1st July 2023.
If you want to chat more about your options speak with our mortgage broker partner Sarah Chambers on 0487 724 748 or sarah@lendable.com.au