First-home buyers using government deposit scheme to pay thousands in extra interest

First-home buyers using government deposit scheme to pay thousands in extra interest

First-home buyers using the Coalition's controversial deposit scheme will pay tens of thousands of dollars in extra interest and face larger monthly repayments in a major windfall for some of Australia's largest banks and lenders. As Prime Minister Scott Morrison conceded the policy would have a "firming" affect on falling house...

First-home buyers using the Coalition’s controversial deposit scheme will pay tens of thousands of dollars in extra interest and face larger monthly repayments in a major windfall for some of Australia’s largest banks and lenders.

As Prime Minister Scott Morrison conceded the policy would have a “firming” affect on falling house prices, experts warned a key element of the plan will actually leave first-time buyers in debt for much longer.

Read the full article on this link below;

https://www.smh.com.au/federal-election-2019/first-home-buyers-using-government-deposit-scheme-to-pay-thousands-in-extra-interest-20190514-p51n5i.html