The Nationals want to help more young people overcome one of the biggest barriers to home ownership: The 20 per cent deposit.

Saving a deposit for your first home can be a real struggle, and a lot of potential homeowners are missing out. Most banks and lenders require a minimum 20 per cent deposit or at the very least force borrowers to pay tens of thousands of dollars extra through mortgage insurance if they can’t get there.

This is keeping many people and young families stuck in rentals instead of buying a home like their parents and grandparents did. They deserve to have the security of owning their own home and contributing to their communities.

If re-elected, the Nationals in Government will give first home buyers the chance to get into the market with a deposit of just 5 per cent, and without the need to take out expensive mortgage insurance, through the First Home Loan Deposit Scheme.

The First Home Loan Deposit Scheme means buying a home valued at $600,000 will only require a deposit of $30,000, instead of $120,000. And this scheme will be available to an individual earning under $125,000, or a couple earning under $200,000 a year, if they are both first home buyers.

This is an absolute game-changer for young people who can’t just go to the ‘bank of mum and dad’ for a deposit, and it will mean that Australian dream of home ownership will be within reach of more young people.

The Nationals are proud to put our young people first, and proud that we can do it because of our strong economy.