Home Mortgage News REIA urges eligible buyers to explore expanded deposit guarantee schemes

REIA urges eligible buyers to explore expanded deposit guarantee schemes

Published on 21 Jun, 2021

Expansion to provide "significant support" for single parents and first-home buyers

The Real Estate Institute of Australia (REIA) had urged first-home buyers and single parents to consider applying for federal deposit guarantee schemes after the Morrison government added more places for eligible applicants.

Over the weekend, the federal government announced the addition of 30,000 places for eligible applicants under the First Home Loan Deposit Scheme, the New Home Guarantee program, and the Family Home Guarantee from 01 July.

“Through our First Home Loan Deposit Scheme and the New Home Guarantee Program, the Morrison government is helping more first home buyers and single parent families overcome the challenges of saving for a deposit and realising the Australian dream of owning your own home,” said housing minister Michael Sukkar. “With the 30,000 new places available from 1 July, now is the time for potential applicants to contact a participating bank or mortgage provider and get their applications underway.”

Adrian Kelly, president of REIA, said that he welcomed the move by the government and urged eligible homebuyers to apply.

“Saving a deposit is the hardest part of getting into homeownership, so the government support will help ease that issue,” he said. “We urge eligible applicants to contact a participating bank or mortgage provider and get their applications underway.”

Collections: Mortgage News

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