A Federal Government scheme to allow first home buyers to purchase a property with a deposit as little as 5 per cent will operate on a "first-in, best-dressed" basis.

The Government has today unveiled details of the scheme aimed at helping up to 10,000 first home buyers on low and middle incomes enter the market each year from January 2020.

Under the scheme announced ahead of the May election, the Government will offer loan guarantees for Sydney properties worth up to $700,000, and $450,000 across the rest of New South Wales.

In Melbourne, eligible buyers will be able to access the scheme when purchasing a home worth up to $600,000, and $375,000 across other parts of the state. 

 

CLICK HERE to read full article

You might also like...