Labor pledges new Help to Buy scheme to tackle housing crisis

An Albanese Labor government pledges to help tackle Australia’s housing crisis by cutting mortgages and minimising deposits.

The Help to Buy scheme will see up to a 40 per cent reduction in housing costs for 10,000 Australians per year.

Under the scheme, purchasers will be required to have a two per cent deposit and qualify for a home loan from a participating lender.

The scheme will be available to Australians with an income of up to $90,000 for individuals and $120,000 for couples.

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