Saving for a deposit to become easier for first homebuyers under a coalition policy matched by ALP (AAP) Source: ALP (AAP)
The Prime Minister Morrison yesterday promised first home buyers would only need a 5 per cent deposit - instead of the usual standard of around 20 per cent - if his government was re-elected. Under the plan, the National Housing Finance and Investment Corporation would guarantee the difference between five per cent of the purchase price and the 20 per cent deposit. Within hours of Mr Morrison's announcement, Labor put out a statement saying it would match the policy.
The Prime Minister Morrison yesterday promised first home buyers would only need a 5 per cent deposit - instead of the usual standard of around 20 per cent - if his government was re-elected. Under the plan, the National Housing Finance and Investment Corporation would guarantee the difference between five per cent of the purchase price and the 20 per cent deposit. Within hours of Mr Morrison's announcement, Labor put out a statement saying it would match the policy.
