Help to Buy Scheme Update: FUELING THE HOUSING MARKET FIRE

Help to Buy Scheme Update: FUELING THE HOUSING MARKET FIRE

The help to buy scheme is going to be fueling the fire that is the Australia housing market. After years of bribing the future generation of financial security through the "First Home Buyers Scheme", its still unbelievably welcoming a new breed of shared equity schemes.

Join me in this video as I discuss recent updates for this controversial issue.

*BACKGROUND INFO:

"The Home Guarantee Scheme (HGS) is an Australian Government initiative to support eligible home buyers to buy a home sooner. The Scheme is administered by the Housing Australia on behalf of the Australian Government.

The Scheme includes three types of Guarantees:

*First Home Guarantee (FHBG) – supporting eligible home buyers to buy a home sooner, with a deposit as little as 5%. For FY2023-24, 35,000 places are available.

*Regional First Home Buyer Guarantee (RFHBG) - supporting eligible regional home buyers to buy a home sooner, in a regional area, with a deposit as little as 5%. For FY2023-24, 10,000 places are available.

*Family Home Guarantee (FHG) – supporting eligible single parents and eligible single legal guardians of at least one dependent to buy a home sooner, with a deposit as little as 2%. For FY2023-24, 5,000 places are available.

The New Home Guarantee (NHG) is no longer available. A NHG place reserved on, or before 30 June 2022, will still be able to progress to settlement, subject to meeting eligibility criteria and NHG requirements and timelines.

How the HGS works:
Housing Australia works with Participating Lenders to facilitate loans to eligible home buyers who meet income eligibility thresholds and other eligibility criteria and don’t have the 20% deposit typically required for a home loan.

Eligible home buyers can apply for a loan through a Participating Lender who has been authorised by Housing Australia to participate in the HGS.

Housing Australia provides a Guarantee to the Participating Lender of up to 15% of the value of a home loan under the First Home Guarantee or the Regional First Home Buyer Guarantee; and up to 18% under the Family Home Guarantee. This enables the home buyer to buy a home without paying Lenders Mortgage Insurance. The Guarantee is not a cash payment or a deposit for a home loan. Eligibility criteria apply.

Housing Australia has authorised a panel of 33 Participating Lenders to offer the HGS."

Source: https://www.housingaustralia.gov.au/s...

**Like and subscribe to our channel!
   / Канал  

Other relevant videos:
   • A Starter Guide to Self-Employed Home...  
   • Your First Steps in Buying Investment...  
   • IS THE WORST OVER? [AUSTRALIAN PROPER...  

------------------------------------------------
WILL BELL MORTGAGE BROKER
Suite 1, 13-15 Thompson St., Frankston, VIC 3199
0448 111 046
[email protected]

FB Page:   / willbellmortgagebroker  
FB First Home Buyers Community:   / firsthomebuyermelbourne  
FB Personal Finance Community:   / 1113134699702624  
IG:   / willbellmortgagebroker  


❓Who is eligible for the Help to Buy scheme in Australia?
❓What is the Help to Buy scheme in Australia 2024?
❓What is the home buyers scheme in Australia?
❓Who is eligible for first home buyer in Australia?
❓What is the new housing scheme in Australia?
❓What is the first time buyer scheme in Australia?


#homeloans #homeloantips #additionalrepaymentsonhomeloan #mortgagerepaymentstrategy #homeloanextrapayment #finance #financetips #financehack #mortgage #mortgagebroker #MortgageBrokerCranbourne #MortgageBrokerFrankston #MortgageBrokerMelbourne #MortgageBrokerMorningtonPeninsula