NZ indicates PM's home deposit plan will suit a ‘niche’ market | Sky News Australia

One mortgage broker has told Sky News that a policy, which has been in place since 2003, has had a ‘lukewarm’ response, with just 10 per cent of first home buyers using the scheme.

Craig Pope says it fills a ‘niche’ group of people: those unattractive to the banks but who can fulfil their repayment obligations. While the scheme in New Zealand requires a 10 per cent deposit, the plan announced by Mr Morrison, and backed by Labor, would allow first home buyers to purchase a house with just a five per cent deposit. Image: News Corp Australia

It works in New Zealand, but has low numbers using it due to the overpriced housing market and unrealistic expectations of firsthomebuyers

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Scott Morrison rules out revisiting big business tax cuts | Sky News AustraliaPrime Minister Scott Morrison has ruled out revisiting big business tax cuts following the release of a new attack ad from Labor. \n\nThe advertisements suggests that if re-elected, the Coalition will reconsider the corporate tax cuts, particularly after forming a preference deal with Clive Palmer.\n\nMr Morrison says he can ‘absolutely, 100 per cent’ rule out revisiting the policy.\n\nThe Prime Minister made the promise while campaigning in the Nationals-held seat of Cowper on the NSW mid-north coast, believed to be under serious threat from Independent Rob Oakeshott.\n\nImage: News Corp Australia\n\n\n\n\n\n\n 😂 I think I may have just seen a flying 🐖
Source: SkyNewsAust - 🏆 7. / 78 Read more »