Push for national sub-prime first home buyer loan scheme

Monday 3 June 2019

Only weeks after Prime Minister Scott Morrison announced a new first home buyer (FHB) deposit subsidy, Western Australia’s Housing Minister, Peter Tinley, has urged the Coalition to go further and implement a national rollout of Western Australia’s Keystart low-deposit loan scheme, which allows eligible buyers to purchase a home with a 2% deposit in Perth and up to 7% in regional areas without paying lender’s mortgage insurance. From The ABC:

The Keystart scheme was first introduced in 1989 under the Labor Party.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.