with Daniel McKinnon CHANGES TO HOME GUARANTEE PLAN

The Federal Government is widening the eligibility criteria for the first home guarantee/home guarantee scheme.

The scheme allows eligible buyers to purchase a property with as little as five per cent deposit without having to pay lenders mortgage insurance because the Government essentially acts as a guarantor for up to 15 per cent of the value of the property.

Without getting into the minute detail, generally speaking a borrower will need to pay lenders mortgage insurance which often is in the many tens of thousands of dollars if they do not have at least 20 per cent of the value of the property they are purchasing in savings/as a deposit.

Traditionally to qualify a buyer had to be an individual or party to a marriage or de facto relationship, an Australian citizen, at least 18 years of age, and be earning up to $125,000 for individuals or $200,000 for couples.

The scheme was also open to first home buyers who had not previously owned or had an interest in property in Australia in their lives.

Whilst structurally the scheme will remain as is, more people will be eligible from July 1 2023.

The changes include:

• Family and friends being able to team up to buy a first home as opposed to the scheme being limited to only parties to a de facto relationship or marriage;

• Legal guardians of children now being eligible to apply (as opposed to the more strict eligibility criteria of being a “single parent”), meaning those who have guardianship of children who would otherwise not qualify as they are not the biological parent thereof can access the scheme;

• Australian permanent residents being included as eligible applicants instead of just citizens.

The scheme will also widen to allow people who have not owned a property in 10 years or more to have access to the scheme recognising that often people are forced out of property ownership due to things like financial crisis or the breakdown of a relationship (for example divorce).

There are price caps for eligible properties, with the Home Guarantee Scheme First Home Guarantee Facts Sheet describing the intention of the price caps to “assist in the purchase or construction of a modest home”.

The price caps in New South Wales are $900,000 for properties in capital cities and regional centres and $750,000 in the rest of the State.

There is no indication from the Government currently that it intends to increase existing price caps.

If you are planning on buying a property soon, don’t forget an experienced conveyancer is one of your best assets.

Cops Accused Of Sickening Assault

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The 49-year-old woman received injuries during her interaction with the officers.

Black and Trautsch are accused of beating the woman, stomping on her and using excessive capsicum spray.

Court documents also alleged that Black recorded the woman without consent and shared the official police body worn footage.

The incident was captured on CCTV.

The pair were charged on March 16, following an investigation into the circumstances surrounding the alleged actions of the constable and senior constable.

Since then, Black and Trautsch have been suspended without pay and are not on duty with the police.

On Monday, the court heard that the Director of Public Prosecutions (DPP) had taken over the case from the police prosecutors.

Both men were represented by Paul James from Operational Legal Australia.

Magistrate Fiona Toose agreed to a six week adjournment, standing the matter over for brief compliance.

Black and Trautsch were also excused from attending court on the next occasion.

The matter will return to Penrith Local Court on Friday, June 30.