Financial expert says changes to first-home schemes in Budget 2022 give 'big leg-up' to first-home buyers

  • 25/05/2022

A financial expert says the changes to first-home loans and first-home grants announced in Budget 2022 gives a "big leg-up" to first-home buyers.

The first-home loan scheme allows buyers to purchase a home with a 5 percent deposit - previously the scheme had a property price cap, now it doesn't.

The first-home grant scheme can give first-home buyers up to $20,000 for a deposit which also has a price cap - that cap has now been raised.

Frances Cook told AM these schemes will allow first-home buyers to access the market again.

She added the previous price caps on the schemes were "unrealistic" for first-home buyers with house prices "skyrocketing".

Watch the full interview above.