Home buyer schemes Australia wide are being expanded
It’s good news for property investors! Not only has the Treasury expanded the property price caps for homes purchased under the First Home Loan Deposit Scheme (FHLDS) and Family Home Guarantee, but there will also be more slots available in the new financial year. That means more possibilities for first home buyers and single parent home buyers to get into the market.
This financial year a total of 30,000 additional places will be made available under a range of policies desinged to help home buyers.
The New Home Guarantee scheme helps first homeowners build or purchase a new home with a deposit as low as 5 per cent, without having to pay Lenders Mortgage Insurance (LMI), which can be an expensive barrier to home purchase for those with a small deposit. As of 1 July 2021, 10,000 additional places will be available for the 2021-22 financial year under each of the FHLDs, the New Home Guarantee and the Family Home Guarantee initiatives.
First Home Loan Deposit Scheme and Family Home Guarantee property price caps, effective July 1, 2021
The Capital City price thresholds apply to regional centres with a population over 250,000. Regional centres include: Newcastle and Lake Macquarie; Illawarra (Wollongong); Geelong; Gold Coast and Sunshine Coast.
New Home Guarantee construction extension
This applies to people constructing new homes or purchasing newly constructed homes that have a construction commencement timeframe of twelve months. The Capital City price thresholds apply to regional centres with a population over 250,000. Regional centres include: Newcastle and Lake Macquarie; Illawarra (Wollongong); Geelong; Gold Coast and Sunshine Coast.
— — —
Buying property is one of the biggest money decisions you’ll make in your life, so put in the work to get it right. Get good help around you so you cover all your bases and can confidently buy property knowing you’re on the right track from the moment you make your purchase! If you would like to find out more about Raiz Home Ownership, please contact the team at firstname.lastname@example.org, or register your interest.
Don’t have the Raiz App?
Download it for free in the App store or the Webapp below:
Important InformationIf you have read all or any part of our email, website, or communication then you need to know that this is factual information and general advice only. This means it does not consider any person’s particular financial objectives, financial situation, or financial needs. If you are an investor, you should consult a licensed adviser before acting on any information to fully understand the benefits and risk associated with the product. This is your call but that is what you should do.You may be surprised to learn that RAIZ Invest Australia Limited (ABN 26 604 402 815) (Raiz), an authorised representative AFSL 434776 prepared this information.We are not allowed, and have not prepared this information to offer financial product advice or a recommendation in relation to any investments or securities. If we did give you personal advice, which we did not, then the use of the Raiz App would be a lot more expensive than the current pricing – sorry but true. You therefore should not rely on this information to make investment decisions, because it was not about you for once, and unfortunately, we cannot advise you on who or what you can rely on – again sorry.A Product Disclosure Statement (PDS) for Raiz Invest and/or Raiz Invest Super is available on the Raiz Invest website and App. A person must read and consider the PDS before deciding whether, or not, to acquire and/or continue to hold interests in the financial product. We know and ASIC research shows that you probably won’t, but we want you to, and we encourage you to read the PDS so you know exactly what the product does, its risks and costs. If you don’t read the PDS, it’s a bit like flying blind. Probably not a good idea.The risks and fees for investing are fully set out in the PDS and include the risks that would ordinarily apply to investing. You should note, as illustrated by the global financial crisis of 2008, that sometimes not even professionals in the financial services sector understand the ordinary risks of investing – because by their nature many risks are unknown – but you still need to give it a go and try to understand the risks set out in the PDS.Any returns shown or implied are not forecasts and are not reliable guides or predictors of future performance. Those of you who cannot afford financial advice may be considering ignoring this statement, but please don’t, it is so true.Under no circumstance is the information to be used by, or presented to, a person for the purposes of deciding about investing in Raiz Invest or Raiz Invest Super.This information may be based on assumptions or market conditions which change without notice and have not been independently verified. Basically, this says nothing stays the same for long in financial markets (or even in life for that matter) and we are sorry. We try, but we can’t promise that the information is accurate, or stays accurate.Any opinions or information expressed are subject to change without notice; that’s just the way we roll.The bundll and superbundll products are provided by FlexiCards Australia Pty Ltd ABN 31 099 651 877 Australian credit licence number 247415. Bundll, snooze and superbundll are trademarks of Flexirent Capital Pty Ltd, a subsidiary of FlexiGroup Limited. Lots of names, which basically you aren’t allowed to reproduce without their permission and we need to include here.Mastercard is a registered trademark and the circles design is a trademark of Mastercard International Incorporated.Home loans are subject to approval from the lending institution and Raiz Home Ownership makes no warranties as to the success of an application until all relevant information has been provided.Raiz Home Ownership Pty Ltd (ABN 14 645 876 937), an Australian Credit Representative number 528594 under Australian Credit Licence number 387025. Raiz Home Ownership Pty Ltd is 100% owned by Raiz Invest Australia Limited (ABN 26 604 402 815).