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What are Labor's promises for the Home Guarantee Scheme?

As part of the 2025 Australian Federal Election, the Labor government promised adjustments to the Home Guarantee Scheme. The plan includes removing income and location limits. It will be open to all first home buyers, and those who haven’t owned property in the last 10 years.

If implemented, you could buy a home with just a 5% deposit, no lenders mortgage insurance (LMI), plus access higher property price caps. The scheme remains limited to participating authorised lenders.

You can learn more about how the Home Guarantee Scheme works here.

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Our home loans are subject to credit criteria and eligibility requirements. Home loan interest rates are for new customers only and can change. Our comparison rates are based on a $150,000 loan amount over a 25 year term. They factor in fees associated with applying for the loan; ongoing fees and fees associated with leaving the loan. Our fixed loans roll to a variable principal and interest rate at the end of the fixed term. If the interest only period is not specified, the comparison rate is calculated on a one year period.

WARNING: The comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

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