7NEWS Australia published this video item, entitled “Scott Morrison announces Super Home Buyer scheme, Labor leader Anthony Albanese responds | 7NEWS” – below is their description.
Housing Policies: “The government, in its desperation, has come up with a thought-bubble yesterday. That, according to itself, has not been modelled. They have no idea what the impact will be” – Labor leader Anthony Albanese responding to the Coalition’s Super Home Buyer policy.
The Coalition yesterday promised to allow first home buyers to take 40 per cent of their superannuation, up to $50,000, to buy a house, if they’re re-elected on Saturday – a move that is tipped to lift house prices.
Labor’s Help to Buy scheme will provide an equity contribution of as much as 40 per cent of the purchase price of a new home and up to 30 per cent for an existing dwelling. The scheme will enable savings up to $380,000 for new homes and $285,000 for existing ones, with price caps of between $550,000 and $950,000 depending on the state and region. The homebuyer will avoid lenders mortgage insurance but still need a two per cent deposit and qualify for a standard loan. Australians will be able to buy an additional stake in the home, owned by the federal government, in five per cent increments or pay the government back when they sell. The scheme is not exclusive to first home buyers but participants must be Australian citizens and live in the home for two years.
More Details: 7news.link/300000
7NEWS Australia YouTube Channel
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