Finance News - News Home Credit Card News Banking News Loans News Insurance News Investments News News Archive Finance News Search
Advertisement

Top Home Loans for November

RAMS Home Loans

  • Min Interest : 6.59 %
  • Min Comparison : 7.13 %
  • Term : 1 - 30 Years
  • Application Fee : $395

 

MyRate Home Loans

  • Min Interest : 6.99 %
  • Min Comparison : 6.99 %
  • Term : 10 - 30 Years
  • Application Fee : $0

 

Aussie Home Loans

  • Min Interest : 8.84 %
  • Min Comparison : 8.90 %
  • Term : 1 - 5 Years
  • Application Fee : $0

 

Advertisements
Allianz Insurance - click here     HSBC Serious Saver - click here

RAMS Home Loans - click here

Govt to reward first-time buyers with savings

Govt to reward first-time buyers with savings

Related articles

Date Published : Tuesday, September 23, 2008

First-time buyers seeking a mortgage for their perfect first home have been given good news this week.

The government has revealed plans to reward frugal Australian's looking to get a foot on the property ladder with a new savings account.

For every dollar the would-be buyer places into the first home saver account, the government will pay 17 cents, as it seeks to ease the pressure on those struggling to enter the housing market.

However, for the savers to enjoy the fruits of the government aid, they must deposit at least $1,000 a year into their accounts for four years.

Coming into effect from October 1st, the scheme follows the introduction of the first home grant scheme.

Launching the new programme, Wayne Swan, federal treasurer, said: "Saving a decent deposit for your first home is one of the biggest financial hurdles young Australians face these days, so the Rudd government's first home saver accounts will be a real help in making the dream of home ownership a reality."

First home grants have been shown to be a popular scheme, according to the West Australian, which reported that the number of grants taken up in West Australia rose by ten per cent during July and August - an increase demonstrating the "tentative signs" of recovery in the region's housing market.

The newspaper reported that interest in the $7,000 grants has been driven by strong migration, lower house prices and an expectation of reduced interest rates.

Australia's best savings accounts compared and reviewed.
ADNFCR-1411-ID-18793388-ADNFCR

 

 

 

Latest Money News from Money-Au.com.au

  • Finance News
  • Credit Cards
  • Banking News
  • Loans News
  • Insurance News
  • Investments News
Advertisements
St.George Bank - click here   iSelect - click here   1Cover Insurance - click here