Teachers, nurses, police officers, single parents and older singles are one step closer to owning their first home faster with legislation for the NSW Government’s $780.4 million shared equity scheme now introduced to Parliament.
The introduction of the shared equity legislation coincides with the First Home Buyer Choice legislation which will give first home buyers the choice between paying a large upfront stamp duty and a smaller annual property fee – shaving two years off the time needed to save for a deposit.
Premier Dom Perrottet said under the shared equity scheme, the NSW Government would contribute an equity share up to 40 per cent for a new home or up to 30 per cent for an existing home purchased by eligible buyers.
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Shared equity legislation introduced for key workers, single parents and over 50s
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