PHOTO: ScoMo – Prime Minister Scott Morrison

First-home buyers ready to enter the market have been urged to do it now, rather than wait for Prime Minister Scott Morrison’s assistance scheme to kick in.

Property experts say those who sit on their hands may end up worse off financially, also pointing out just one in 10 of the nation’s first-time purchasers will score ScoMo’s leg-up.

Mr Morrison pledged, before the federal election, to help young people get on the property ladder by topping up their 5 per cent deposits with a government guarantee for 15 per cent.