Non-bank lender WLTH’s Head of Lending Catherine Mapusua echoes this sentiment believing the scheme will help those who already have a secure financial future, yet can assist in preparing for interest rate uncertainty that may lay ahead.

“As interest rates are expected to continue to increase in the near future, the need for a large deposit is emphasised further to avoid mortgage stress from overwhelming loan repayments,” Ms Mapusua told Savings.com.au

“Having the Super Home Buyer scheme available will permit buyers to retain some of their cash savings, allowing a buffer or safety net for proposed interest rate increases.

“Even though this grant won’t directly rectify the [demand and supply] problem at hand, it is good to see another scheme made available to Australians.”

Full Article: Savings.com.au