Share on facebook Share on twitter Share on linkedinA controversial new scheme has passed in parliament that aims to help First Home Buyers get into the property market. The program will help buyers get into a property with a 5% deposit but it’s estimated that less than 1 in 10 buyers will receive it.The big savings are that the government will ‘guarantee’ the loan so that the borrower will not have to pay Lenders Mortgage Insurance (LMI).Other details around the scheme are still a bit unclear but here’s what we know so far:The scheme is capped to 10,000 buyers a year. It will ‘guarantee’ loans for first time buyers with deposits as small as 5%. There is an income cap of $125k for individuals and couples earning more than $200k. There is a price cap in cities and regional areas. Click here to see the ranges. The scheme will start on January 1st 2020. It will only be available through some lenders.If you’re thinking about this scheme or know someone who is, let me know. I can make sure you’ll have a good chance at being one of the lucky 10,000 who receive this. Let's scheme! Hit the button below to arrange a conversation with one of my loan specialists to find a deal that's best for your situation.Apply for this scheme todayWe partner with over 50 lenders so you can find the perfect solution FollowFacebookLinkedinDo you have questions about mortgages or loans? Ask us in the comments below … [Read more...] about First home buyer help is on the way
Housing turnover coming back from a historic low
One large factor that is often underreported when talking about the national property market slump is the percentage of turnover in the market - the percent of property on the market that sells.Recently released data by the RBA has shown that housing turnover is a 30 year low but there is good news on the way. With the election out of the way, lower interest rates and the start of the spring selling season the numbers are starting to rebound. Here’s some other key takeaways:Analysts claim one of the biggest reasons for the historic low was a low level of stock.Around 70% of housing turnover today is from existing property.Turnover from newly built housing is rapidly falling.If you’re looking to take advantage of buying conditions before the market might heat up again, I can help make sure you’re setup with the right loan.Let's talk property!Hit the button below to arrange a conversation with one of my specialists to find a deal that's best for your situation. Talk about property today We partner with over 50 lenders so you can find the perfect solutionFollow Facebook Linkedin Do you have questions about mortgages or loans?Ask us in the comments below … [Read more...] about Housing turnover coming back from a historic low