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‘Dangerous’ new first-home buyers policy

Article image for ‘Dangerous’ new first-home buyers policy

Scott Morrison has appealed to younger voters, promising to guarantee first-home buyers home loans with a deposit of just five per cent.

The $500 million scheme will allow eligible first-home buyers to have a minimum of five per cent deposit to qualify for a loan.

Labor has also said it would introduce the scheme which would be capped at 10,000 loans per year.

Good Deeds Property Buyers Buyers Agent Veronica Morgan tells Ben Fordham there is a lot of risk for young people.

“I think it’s quite dangerous actually.

“What people don’t realise is that buying property is actually really risky business.

“When you’ve only got a five per cent buffer you’ve got no margin of error there.”

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