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Big Changes to the Home Guarantee Scheme: What It Means for You

From 1 October 2025, the Australian Government has rebranded and expanded the Home Guarantee Scheme, now known as the Australian Government 5% Deposit Scheme and the updates are significant. This expanded scheme aims to make home ownership more achievable for .....

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Big Changes to the Home Guarantee Scheme: What It Means for You

From 1 October 2025, the Australian Government has rebranded and expanded the Home Guarantee Scheme, now known as the Australian Government 5% Deposit Scheme and the updates are significant.

This expanded scheme aims to make home ownership more achievable for more Australians, removing many of the barriers that have held buyers back. 

Key changes include:

  • Unlimited places – no cap on the number of applicants.
  • Income caps removed – previously $125k (single) and $200k (couple); now open to a wider range of borrowers.
  • Property price limits increased – up to $1.5 million, depending on location.
  • Extended eligibility – includes non–first home buyers who haven’t owned a property in the past 10 years.
Joint applications allowed – friends, siblings, or family members can now purchase together.


Who benefits most?

  • First home buyers struggling to save a 20% deposit.
  • Returning buyers re-entering the market after more than a decade.
  • Single parents, who can still access the scheme with just a 2% deposit.
  • Parents and grandparents looking to help their children or grandchildren buy their first home.

Why it matters

This change opens opportunities for a much wider group of Australians, from those hoping to buy their first home to families planning for the next generation.

With:

  • No lenders mortgage insurance (LMI) payable,
  • More desirable suburbs within reach, and
  • Options for multi-generational purchasing,

it’s an ideal time to review your strategy and take advantage of what’s now possible.

 

Take the next step

If you’re wondering how these changes could work for you or your family, speak with the Altus Lending team.

Julie and Ed can help assess your eligibility, explore your options, and guide you through the next steps toward home ownership.

 

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Altus Wealth Pty Limited ABN 55 649 956 212 is an Authorised Representative of Altus Financial Services Pty Ltd ABN 24 637 026 825 an Australian Financial Services Licensee (AFSL no. 520266). Altus Financial Services Pty Ltd is not responsible for the advice, products and services provided by Altus Accounting. Julie Azzi is a credit representative (CR No. 366834) of BLSSA Pty Ltd ABN 69 117 651 760 (Australian Credit Licence 391237).