Liberty Financial Says Updated Superannuation Scheme Could Help First Homebuyers Get Ahead

MELBOURNE, Australia, November 29, 2022 (Newswire.com) - The Australian Government's updated First Home Super Saver (FHSS) scheme is designed to help more first-time buyers to buy a property sooner.

The FHSS scheme allows participants to make additional contributions to their superannuation fund, then withdraw those contributions for a deposit on their first home. 

Each financial year, up to $15,000 in eligible super contributions can be made towards a total FHSS releasable amount of $50,000.

Non-bank lender Liberty works closely with first-time buyers and understands the challenges many face when looking to secure a home loan. According to Head of Communications Heidi Armstrong, the FHSS scheme could help eligible borrowers boost their deposit and fast-track their property plans.

"There are many routes to buying your first home, regardless of your financial journey or the size of your deposit."

"Exploring if a scheme such as this is right for you is an important step in the home loan process. If you're eligible, it could help you reach your homeownership goal sooner."

A leader in the Australian mortgage market, Liberty supports homebuyers at all stages of their property journey - including those first-time buyers who may not qualify for a home loan via traditional assessment methods.

"At Liberty, we can help first-time buyers assess the options available to them and find a home loan that's right for their situation."

With a variety of free-thinking home loans available, Liberty offers tailored solutions designed to help more people get financial and achieve their homeownership goals.

"We work to ensure each borrower receives a solution to fit their needs and offer a range of solutions tailored to each customer's unique circumstances."

Non-bank lender Liberty also encourages self-employed borrowers or those with irregular income to consider more free-thinking home loans when planning to buy property.

"Opting for a flexible mortgage solution could also help buyers secure their dream home sooner - so it pays to investigate options early."

Approved applicants only. Lending criteria apply. Fees and charges are payable. Liberty Financial Pty Ltd ACN 077 248 983 and Secure Funding Pty Ltd ABN 25 081 982 872 Australian Credit Licence 388133, together trading as Liberty Financial.

Source: Liberty Financial