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More great news for first home buyers!
The Australian Government’s popular First Home Loan Deposit Scheme (FHLDS) has just been extended to allow a further 10,000 eligible first home buyers to benefit.
The FHLDS allows eligible first home buyers to purchase a newly built property, such as an apartment at Brisbane 1 Towers or Live City Footscray, with as little as 5 per cent deposit.
The FHLDS also means eligible buyers aren’t required to pay the often costly lenders mortgage insurance, usually payable by buyers with a deposit of less than 20 per cent.
Not only has the FHLDS been extended, but the price cap for properties in Brisbane has increased from $475,000 to $650,000 and from $600,000 to $850,000 in Melbourne.
These changes open up more opportunities for keen first home buyers to take that important first step onto the property ladder and make it easier than ever to save for a deposit.
A range of newly built apartments are eligible for first home buyers in Brisbane & Melbourne
Here is just a couple of the newly built properties you could secure with only 5% deposit:
Brisbane 1 Towers – Apartment 10710 2bed 2bath 1car
This stunning, modern two bedroom apartment features high quality finishes and fittings, one secure car park and plenty of space for entertaining. At more than 100sqm, Apartment 10710 is ideal for a young couple or downsizers looking to upgrade their lifestyle!
Priced from $562,535, a 5% deposit for this apartment is only $28,126!
Live City Footscray – Apartment 1206 3bed 2bath 1car
This three bedroom home has more than 86m2 of internal living space and two bathrooms – plenty of room for the whole family. With premium appliances, floor to ceiling windows and more, Apartment 1206 has everything you need for low-maintenance, modern living.
Priced from $670,357, a 5% deposit for this gorgeous apartment is only $33,517!
Eligible applicants can secure a loan to purchase a newly built home with their choice of 27 lenders including two major bank lenders, NAB and Commonwealth Bank.
Applications for the FHLDS can be made directly through one of the 27 lenders so give one of them a call today or head down to your closest branch to start your application!
Our experienced sales team at R&F Property can also help you to navigate the FHLDS and are available to host private tours through a range of eligible newly built apartments.