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September 19, 2025 4 mins

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Speaker 1 (00:00):
Well, Cam, a few of our recent interview guests on
The Real Estate Show have made references to help for
first home buyers that's on the way, and we're going
to explore a little bit of that this morning. The
home guarantee scheme that's being expanded from the first of
October and find out what that all means. And say
good morning to Yarni Pazios directed at ysp Lendy and Yarni.

Speaker 2 (00:22):
Good morning, Good morning, how are you guys?

Speaker 1 (00:24):
Good Now, look, can you give us an overview of
this scheme and what a will mean for first home buyers.

Speaker 2 (00:30):
Yeah, Look, it's not a new scheme. It's actually been
around for about four or five years. It's just a
bit of an update to the criteria from October one
that's going to be pretty helpful. What's happening here in
the act is the income cap is being removed so
you can make as much money as humanly possible and
still be eligible. And there's an increase to the value

(00:51):
of the property purchase price from seven hundred and fifty
thousand up to a million dollars. So that are two
key changes that, in my opinion, be a bit of
a game changer. For first home buyers here in the act.

Speaker 3 (01:02):
Yeah, okay, and so why then, so obviously they're they're
I mean, that freeze things up a little bit, But
what else? Why else is that good?

Speaker 2 (01:11):
I look, just judging on the conversations I've had over
the last six to twelve months, you know, there was
plenty of first home buyers who you know, were unable
to be eligible for the scheme given their incomes as couples.
Previously it was two hundred thousand dollars as a house
of income for couples and just purely finding the right
property up to the value cap. So you know, opening

(01:32):
it up to a million dollars gives first home buyers here,
you know, a per thoro properties to choose from.

Speaker 3 (01:37):
And I suppose also we I mean, we tend to
think of first home buyers as younger people, which is
why those sort of caps on those numbers have been
what they have been. But that's not necessarily the case,
is it in twenty twenty five?

Speaker 1 (01:54):
Now?

Speaker 2 (01:54):
Look, well, I've been dealing with first home buyers, as
you know, in their forties and fifties. So yeah, there's
no restriction except for you must be over eighteen.

Speaker 1 (02:03):
Okay, and has there been much sort of negative commentary
or feedback about these changes.

Speaker 2 (02:10):
Yeah, look, I've heard each side of the spectrum. One
being that you know, price values will be driven up quicker,
up to a million bucks given that the schemes now
increasing the price cap. But also you know, if you're
going in with a five percent deposit and exposing yourself
to a ninety five percent loan, and if there was
to be a property crash, you'd be exposed over one

(02:30):
hundred percent, which means you know, selling would be quite tricky,
big costly.

Speaker 3 (02:35):
And so mate, what's popped out for the scheme as
far as you know positives are concerned. Obviously, it just
widens the market and gives more opportunity for people.

Speaker 2 (02:44):
Yeah. Absolutely, they've also removed that previously there was a
you know, look, they had space as annually thirty five
thousand spaces on the scheme. That's now been removed. The
positive thing, in my opinion is definitely the increase to
the property purchase price and the removal of the the
income cap. It just allows many more first home buyers
to utilize the scheme.

Speaker 3 (03:05):
So when you say there was thirty five thousand dollars spaces.
What does that mean?

Speaker 2 (03:09):
Well, if thirty five thousand people were to utilize the
scheme in the financial year, that the next person wouldn't
be eligible because.

Speaker 1 (03:16):
That happened on how many people can access it, right, okay, yeah.

Speaker 2 (03:20):
Yeah, that's now being removed as of the first of October.

Speaker 1 (03:23):
And just in relation to what you mentioned there with
some of the negative commentary, do you think that this
could lead some first home buyers into a bit of
a trap down the track, Like, is that a concern
that you have?

Speaker 2 (03:34):
Oh? Look, if economically there was to be a you know,
a value crash with properties yet, that could be concerning.
But as long as you know perst time buyers that
got the right strategy in place for the next two
to five years to lower their debt as quickly as possible,
I think everything will be all right.

Speaker 1 (03:50):
Yeah yeah, okay, So just go in with a good plan,
all right, Yani, thank you so much for sharing that
with us this morning.

Speaker 2 (03:56):
They problem have a great day guys, you too

Speaker 1 (03:57):
Are Yanni Pazios, Director at YSP Lentin
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