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The Finance Guru reviews three potential solutions for struggling first-home buyers

Tom Elliott
Article image for The Finance Guru reviews three potential solutions for struggling first-home buyers

House prices are rising and making it difficult for first-home buyers to own of piece of the market.

There’s a federal push for 0% deposit home loans based on a good rental history and the government is also helping some first-home buyers by wiping off 25% of the mortgage. 

The Finance Guru Scott Haywood reviewed three potential solutions for struggling first-home buyers on 3AW Drive.

  • 0% Deposit bank loans:
    • Scott says this is not going to happen… Sorry!
  • Government co-ownership:
    • The government will own 25% of your property and you’ll technically be out of pocket. 
  • First-home buyer stamp duty cuts:
    • Could see a rise in property prices, which is exactly what we don’t want to happen!

Scott Haywood dismissed all these possible solutions and says if you’re lucky enough to have wealthy parents, that might be your best bet.

Click PLAY below to hear more on 3AW

Tom Elliott
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