First home buyer scheme advances to next step - Option Home Loans

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Option Home Loans - First Home Buyers

Broker News recently published an article where it stated that the Senate has passed the legislation that will move the First Home Loan Deposit Scheme closer to becoming a reality.

“The passage of the bill, originally introduced one month ago, means the National Housing Finance and Investment Corporation (NHFIC) will be able to offer the deposit guarantees underpinning the scheme. Further, the legislation establishes a new housing research function within NHFIC, supported by $25min funding, to investigate housing demand, supply, and affordability.” (brokernews.com.au)

“Housing Industry Association (HIA) managing director, Graham Wolfe said, “HIA has long argued that there needs to be a national approach to helping first home buyers (FHB) enter the market and to address the time that saving a deposit now takes.” (brokernews.com.au)

“Along with stamp duty and securing finance, the time it takes to save a home deposit remains one of the main barriers to people’s home ownership aspiration. According to Wolfe, helping 10,000 fist home buyers a year achieve home ownership will take “some of this pressure off” the current market.” (brokernews.com.au)

“HIA expects the scheme to ‘make a real difference’, estimating it could save an average FHB with less than 20% deposit tens of thousands of dollars over the life of their loan.” (brokernews.com.au)

“Independent research shows that half of all renters believe they will never afford to buy a home, even though over 90% of renters would like to. Fortunately, renters will also benefit from the Scheme as more new houses and more home owners mean more supply and less pressure on rental prices, said Wolfe.” (brokernews.com.au)

“It is widely accepted that long term, secure and stable housing tenure helps people achieve many of their life goals. Home ownership matters to the wellbeing of the economy and the community. HIA will continue to work with the government to see the Scheme rolled out from 1 January 2020, the managing director concluded.” (brokernews.com.au)

Are you planning to buy your first home – Let us help you!

The decision to buy your first home will probably be one of the most significant steps in your life. It’s exciting, its daunting and navigating the process of finding the right home loan, can be overwhelming. We have created e-book guide (download the e-book guide here) that illustrates the most important steps in your journey of becoming a first home owner. The Option Guide to “Buying Your First Home” leverages our extensive industry experience and is intended to save you time and money when looking to find the best loan deal.

For most people, getting a mortgage is the most significant financial decision they have made to date. Purchasing a property requires a financial commitment, but the journey doesn’t end there. You’re not just paying for a roof over your head, you’re building equity in an asset that is likely to grow in value over the years.

Moreover, as long as your home is your principal place of residence, it is a tax-free asset. No other investment offers this complete absence of tax.

Most of our clients need a lot more help to work out how they can best allocate their resources to ensure their investment is protected. That’s why we organize a free consultation with one of our lending specialists to assist you with your home loan application process. At Option, our Lending Specialists navigate the entire process, saving you valuable time by searching and comparing hundreds of loans from over 30 leading lenders.

The cost of this consultation is 100% covered by us. Why? Because your future is important to us.

Every client we serve, we want to go above and beyond for. We want to make sure your financial future is secure – and if we do that well, you’ll be able to get your next property sooner.

How it works?

At Option Home Loans, we will meet you at a time and place that suits you. As soon as you contact us or book an appointment, one of our lending specialists will be in touch.

Make your life changing decision and contact us today!
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References:

https://www.brokernews.com.au/news/breaking-news/first-home-buyer-scheme-advances-to-next-step-267272.aspx