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Family Home Guarantee price caps face scrutiny


Mortgage Business
Family Home Guarantee price caps face scrutiny
By Sarah Simpkins
07 June 2021
The Minister for Financial Services has faced some pointed questions around the new Family Home Guarantee, with a senator blasting its recently revealed pricing limits.
The Family Home Guarantee, which was introduced in the federal budget, aims to allow single parents with dependent children and who do not currently own a house to purchase one, with a deposit as small as 2 per cent.
The initiative, which will act in a similar way to other existing government guarantee schemes, will provide 10,000 guarantees over four years.
Jane Hume, Minister for Financial Services, told Senate estimates last week that the government has budgeted for 10,000 families and will re-evaluate when it sees what the demand is like. ....

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