Budgetâs housing gift for single parents Single parents will need a deposit of only 2 per cent to buy a house through a federal budget strategy designed to get more people into their own homes.
Home & Decorating by James Campbell
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Subscriber only Single parents will be big winners in the federal budget on Tuesday, with the government to introduce a scheme that will get them into the property market with just a 2 per cent deposit. The government will on Saturday release a three-pronged strategy to boost home ownership rates, with a focus on getting more single mums into their own homes.
Treasurer Josh Frydenberg told news.com.au the new policy was designed to address the challenges experienced by single parents trying to enter the housing market. The Morrison Government understands the importance of owning your own home and the significant economic and social benefits home ownership provides, he said. The Family Home Guarantee recognises that the challenge of saving a deposit is even harder when you re on a single income while raising children. Treasurer Josh Frydenberg. Picture: NCA Gary Ramage Housing Minister Michael Sukkar said the policy idea was the product of many months of discussions with banks and single parents over the challenges around getting into the market and securing a home for their family and retirement.
Single parents who ve been priced out Australia s soaring property market are set to be the big winners in Tuesday s Federal Budget, with a new scheme allowing them to purchase a home with a two per cent deposit.
The Government will outline part of their plan on Saturday, which aims to boost home ownership rates and get more single mums on the property ladder, The Australian reported.
Under the new plan starting in July, a single parent can buy a $500,000 home with deposit of just $10,000. Normally, the property would require a 20 per cent, or $100,000 deposit.
Single parents who ve been priced out Australia s soaring property market are set to be the big winners in next Tuesday s Federal Budget. Pictured: A house in Victoria
Budgetâs housing gift for single parents Single parents will need a deposit of only 2 per cent to buy a house through a federal budget strategy designed to get more people into their own homes.
Home & Decorating by James Campbell
Premium Content
Subscriber only Single parents will be big winners in the federal budget on Tuesday, with the government to introduce a scheme that will get them into the property market with just a 2 per cent deposit. The government will on Saturday release a three-pronged strategy to boost home ownership rates, with a focus on getting more single mums into their own homes.
Budgetâs housing gift for single parents Single parents will need a deposit of only 2 per cent to buy a house through a federal budget strategy designed to get more people into their own homes.
Home & Decorating by James Campbell
Premium Content
Subscriber only Single parents will be big winners in the federal budget on Tuesday, with the government to introduce a scheme that will get them into the property market with just a 2 per cent deposit. The government will on Saturday release a three-pronged strategy to boost home ownership rates, with a focus on getting more single mums into their own homes.