Friends and family become eligible for government housing grants
The dream of home ownership has become more realistic for tens of thousands of first home buyers with the expansion of Federal Government housing grant schemes and changes to eligibility rules.
Since its inception in 2019, the Home Guarantee Scheme has helped more than 60,000 Australians buy a home. (Image source: Shutterstock.com)
Property purchases among friends, family and other relatives will now be eligible for loan schemes whereby the federal government acts as guarantor on up to 15 per cent of a loan.
The move is one of several made in the government’s expansion of eligibility criteria for the Home Guarantee Scheme (HGS).
The HGS comprises three separate categories:
- First Home Guarantee, which supports eligible first home buyers with a deposit as little as five …
