FBAA flags home ownership scheme risks
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The association has warned brokers about the risks of home ownership measures that allow borrowers to buy a home with a 2 per cent deposit, particularly in light of BID.
The Finance Brokers Association of Australia (FBAA) noted that the 2021-22 federal budget has focused on home ownership with new incentives for single parents and first home buyers (FHB) to enter and re-enter the property market.
In the budget handed down on 11 May, the Treasury revealed that it would launch a new measure called the Family Home Guarantee to assist single parents purchase property.