The government will roll over more than 4,500 unused guarantees for first home buyers from the previous financial year, giving aspiring property owners a second chance.
In a joint statement, Prime Minister Scott Morrison and Minister for Housing Michael Sukkar have declared the government will reissue 4,651 unused grants for first home buyers from the Home Guarantee Scheme during the 2021 financial year.
The scheme allows first home buyers and single parent families purchase properties with a deposit as little as five per cent or two per cent respectively.
Mr Morrison stated the intention is to help buyers who hadn’t had an opportunity to enter the market because of COVID disruptions.
“The pandemic and lockdowns have interrupted the plans of many home buyers this year, so this is about ensuring we give thousands more families the opportunity they need,” the Prime Minister said.
“We want to help Australians into their first home or a home that they’ve had built for them and their family, and with our support first home buyers are at their highest level in nearly 15 years.”
Source: The Adviser 09/12/2021