The Treasury has announced additional home loan assistant measures to help more Australians become homeowners as part of the 2021-22 budget. Single parents with dependent children will be able to purchase a home with a deposit of two percent. It will be under the Family Home Guarantee, which the government will establish to provide 10,000 guarantees from July 1, 2021, to single parents over the next four years. The New Home Guarantee will also be extended for one more year and open 10,000 places for eligible first home buyers from July 1, 2021. This is in addition to the 10,000 spots currently under the scheme. First home buyers will also be able to release up to $50,000 in voluntary contributions from their superannuation. This is increased from $30,000. The National Australia Bank (NAB) welcomed the announcement and said they were excited about the new initiative for single parents. “We are …
Single Parents to Be Able to Buy Homes With Two Percent Deposit
May 10, 2021
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