In today's episode, we recap on the First Home Loan Deposit Scheme and the recent Government changes. 

So let's start with the recap. The FHLDS is one of the Government Schemes, to boost the construction industry and Australian economy post-COVID. If you have saved 5% of a properties value, then the Government will step in and act as a guarantor eliminating Lenders Mortgage Insurance. 

There are some key eligibility criteria:
- Income test
- Citizenship test
- Reason test
- Prior ownership test
- Price cap (by postcode)

Remember! There are only a few banks who are able to help you through this process and it's done in conjunction with your loan application. 

So what's changed? Price caps have been increased, so you can look at a greater range of properties and a further 10,000 spots have been release so get in quick!

Thanks again and catch you next time. 

The Property Heroes

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We release a few different episodes a week

Monday - A short rapid fire educational episode about property/real estate

Wednesday - A longer form, conversational episode talking all thing property and finance.

Friday - A short rapid fire educational episode about finance. 

If you have any questions or any comments, it would be great to hear from you [email protected] or you can reach us through our social.
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Website: https://www.letsbuyproperty.com.au/