Home buyer guarantees - time may be running out

As we draw close to the end of the 2025 FY the government guarantee loans era may be at an end.

It took them a wee while to get it right but after several years, the opportunity for home buyers to secure a new home with no stamp duty and no LMI has been a wonderful opportunity for tens of thousands of home buyers, first and repeat.

The family home guarantee was exceptional to say the least! 2% deposit for families who received FTB payments and met other policy restrictions. They were such a rewarding loan to write.

And now, with an election looking ad there being such bug conversations and differences of opinions about how to best help people in to their first homes, I fear what it will be like for new home buyers in the new financial year.

My advice for any person trying to find a way in to the market is to have some big hard conversations with your broker to examine which scheme in the future might be the one for you.

Its my opinion that home buyers need to be careful about the low deposit, hihg interest rate products disguised as ‘an opportunity’ as you may be locked down in those big rates for a long time, and the only entity that usally wins is the big funders who say they are helping you.

And the schemes that offer to buy part of your home? Be careful about paying 100% of all costs and improvements and then having to gift a big chunk of any profits to the government later.

I’m just saying that its really important you understand the costs and the benefits of any new schemes that come out post election. And be sure that you are doing the right thing for you. If you don’t understand it avoid it. Just saying…