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Graduate package to help first home buyers

25/11/2011

Genworth reported that the number of first home buyers taking five years or more to save for a home loan deposit has been increasing steadily and is close to 20 per cent of potential first home buyers.

Apart from the high cost of housing, personal debt is increasingly a barrier for many first home buyers to save for a deposit.

Genworth launched what it called a graduate package, aimed at helping first home buyers with degrees get into the home loan market sooner.

Graduates will be able to access lenders mortgage insurance on high density dwellings and the minimum time in employment has been reduced.

Source: Banking Day



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