First Home Loan Deposit Scheme
The Government has launched a new scheme which will assist first home buyers in purchasing their first home without the need to pay lenders mortgage insurance where they have a deposit of as little as 5%.
The scheme is only available to Australian citizens who are over 18 years of age who have never owned property within Australia before and only certain lenders have been selected to participate in the scheme.
There are income caps in place as well as price caps for different locations within Australia.
Changes to the residential tenancy laws commence on 23 March 2020
Changes to the residential tenancy laws start on 23 March 2020, with amendments to the Residential Tenancies Act 2010 (the Act) and the new Residential Tenancies Regulation 2019 (the new Regulation).
The changes improve tenants’ renting experience while ensuring landlords can effectively manage their properties. The changes aim to reduce disputes over repairs and maintenance, increase protection and certainty for tenants, and clarify the rights and obligations of tenants and landlords.