PHOTO: STUFF Banks were wary of low-deposit lending, brokers said.
Having been paid the Government’s wage subsidy is proving a hurdle to some would-be home loan borrowers, mortgage brokers say.
The second tranche of wage subsidy is now being paid to businesses that have experienced a revenue drop of at least 40 per cent compared to last year, because of Covid-19.
In total, 1.7 million jobs have been covered in some way by the subsidy scheme since it was introduced in March.
But mortgage advisers said that was a problem for some first-home buyers who spotted a chance to get into the property market while interest rates were low and there was uncertainty about prices.
READ MORE VIA STUFF