Master Capital Group | Property developer

Master Capital Group

Phone: +61 1300 908 688

Address: 2/333 Keilor Road, Essendon 3040

Website: https://www.mastercapitalgroup.com.au

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25.01.2022 Why are expats returning to property market? According to Ray White, many people are seeing the Australian property market as a safe bet amid the uncertainties brought about by the COVID-19 outbreak, as indicated by consumer confidence landing at a seven-year high and the most recent influx of expats. As leading economists and major banks predict the resurgence of the housing market in 2021, many Australians have returned home.... With huge buyer confidence in the market, it’s no wonder the 2020 spring selling season has been one of the best on record, they highlighted. #PropertyNews #PropertyInvestors #MasterCapitalGroup #MCG #Finance #AFSL #Property

23.01.2022 "2021 is going to be a year of opportunity & optimism". #HappyNewYear2021 #PropertyInvestors #MasterCapitalGroup #MCG #Finance #AFSL #Property #PropertyNews #PropertyTips

23.01.2022 Record Home Lending To Last Into 2021: Prediction A mortgage broker has predicted the robust lending figures evidenced in recent months will hold into 2021, pointing to the record home loan applications and settlements the group achieved in October as proof the home loan market has never been stronger. Aussie reported more than $1.6bn in settled home loans over the month, following on from the record lodgements recorded in the first quarter to 30 September and the 32,000 lo...ans settled for the calendar year to date. Now, the group is forecasting a settlement value of $18.0bn for FY21. The combination of the record low cash rate and traditionally strong spring selling season have helped to settle any earlier COVID-triggered unrest in the property market felt earlier in the year, according to Aussie CEO James Symond. We’ve never experienced pent up demand like this, Symond said. #PropertyNews #PropertyInvestors #MasterCapitalGroup #MCG #Finance #AFSL #Property

22.01.2022 While most impacted by the pandemic, the inner suburbs of Melbourne are set to bounce back later in 2021, experts are forecasting. With restrictions starting to ease, Melbourne is going a little ballistic as the pent-up demand for property explodes, according to Randolph Clements, managing director for Raine & Horne Victoria. It’s a case of the property wave goes out, and the wave will come back in, the managing director highlighted.... According to Mr Clements, low interest rates had buyers and sellers primed for an active 2020 at the start of the year, then COVID-19 halted all plans. People who sold at the start of the year on 90-day contracts didn’t have time to buy anything. People in this situation are leading the charge for Melbourne properties. As a result of pent-up demand, prices are rising rapidly, with properties appraised at $1.8 million a few months ago now selling for $2.2 million, Mr Clements said. This level of sales activity in Melbourne will continue in 2021, with average price growth of 8-10 per cent a distinct possibility, thanks to low interest rates and stronger economic confidence, he concluded. https://www.smartpropertyinvestment.com.au//22120-melbourn #PropertyInvestors #MasterCapitalGroup #MCG #Finance #AFSL #Property #PropertyNews #PropertyTips

22.01.2022 Back by popular demand. LIVE webinar | Property Development Finance & Design Optimisation by Peter Hutchinson (Master Capital Group) & Vincent Choi (RPtecture Architects)... On Thursday, 8th Oct 1:30 PM Registration opening soon. #LIVEwebinar, #MasterCapitalGroup #MCG #RPtectureArchitects #PeterHutchinson #VincentChoi #Property

21.01.2022 We are proud to bring you the second episode of our mini-series webinar on property investment and development. Topic: SMSFs and property development By: Chris Reed and Peter Hutchinson Date: Wednesday, 19th May at 12:00 PM... Registration is NOW open https://www.mastercapitalgroup.com.au/smsf-and-property-dev Business Concepts Group #LIVEwebinar #MasterCapitalGroup #BusinessConceptsGroup #PeterHutchinson #ChrisReed #Property #PropertyDevelopment

20.01.2022 Owner-occupier financing demand still on the rise The latest lending figures from the Australian Bureau of Statistics (ABS) show a consistent growth in new loan commitments among owner-occupiers in March. Over the month, the value of new loan commitments for owner-occupier housing increased by 5.5%, bringing the annual growth to 55.3%.... "Rises in new loan commitments for owner-occupier housing were seen in New South Wales, Victoria, Queensland, and the Australian Capital Territory," said Adrian Kelly, president at the Real Estate Institute of Australia. https://bit.ly/3nR4Dgp #PropertyNews #PropertyInvestors #MasterCapitalGroup #Finance #AFSL #Property

19.01.2022 CBA tips large lift for Aussie house prices. Australia’s biggest bank says property markets are about to boom, less than a year after spooking housing markets across the country with doomsday predictions of price plunges of more than 30 per cent. The Commonwealth Bank of Australia this week released its updated forecasts for Australian dwellings, tipping price rises of 16 per cent for houses and 9 per cent for units across all markets.... The Australian housing market is on the cusp of a boom, CBA economist Gareth Aird said. New lending has lifted sharply, dwelling prices are rising briskly in most capital cities and turnover is up significantly on a year ago. We expect strong growth in national dwelling prices of around 14 per cent over the next two years. https://bit.ly/37DDzdR #PropertyNews #PropertyInvestors #MasterCapitalGroup #Finance #AFSL #Property

19.01.2022 Investors continue to pounce on property markets Investor lending is growing at its fastest rate in nearly 18 years, as housing finance overall hit a record high of more than $30 billion in March. Data from the Australian Bureau of Statistics showed investor lending accounted for more than half of the monthly rise in housing loan commitments as it rose to $7.8 billion, an increase of 54.3 per cent compared to March 2020.... The strong growth continued a rising trend of investor finance following a 20-year trough in May last year, ABS head of finance and wealth Katherine Keenan said. The rise in March is the largest recorded since July 2003 and was driven by increased loan commitments to investors for existing dwellings, Ms Keenan said. Investors are storming back into the market looking to capitalise on the predicted property price rises, she said. Overall, housing finance hit an all-time high of $30.23 billion, a $10.76 billion increase on the same time last year. https://bit.ly/3h0tBIP #PropertyNews #PropertyInvestors #MasterCapitalGroup #Finance #AFSL #Property

19.01.2022 GST and property development Buyers of new residential premises or potential residential land must withhold GST from the contract price and pay it to us. This change, known as GST at settlement, started on 1 July 2018. You may also need to register for GST if:... - you build new residential premises for sale and the total income from your property development activities is more than $75,000 per year - your activities are regarded as an enterprise. If you are registered or required to be registered for GST, you are liable to pay GST on your property sale. You can generally claim GST credits for your construction costs and purchases related to the sale. Speak to your accountant. Source: ato.gov.au #PropertyTips #PropertyInvestors #MasterCapitalGroup #MCG #Finance #AFSL #Property

18.01.2022 Yes, we say THANK YOU.

18.01.2022 Registration is now open! Back by popular demand. LIVE webinar | Property Development Finance & Design Optimisation... by Peter Hutchinson (Master Capital Group) & Vincent Choi (RPtecture Architects) On Thursday, 8th Oct 1:30 PM Register here https://www.mastercapitalgroup.com.au/live-webinar-with-pet #LIVEwebinars, #MasterCapitalGroup #MCG #RPtectureArchitects #PeterHutchinson #VincentChoi #Property

18.01.2022 Do you have questions on 'design optimisation'? Come and join us on the LIVE webinar and ask Vincent. Find out more.... https://www.mastercapitalgroup.com.au/live-webinar-with-pet #LIVEwebinar, #MasterCapitalGroup #MCG #RPtectureArchitects #PeterHutchinson #VincentChoi #Property

16.01.2022 If you are purchasing property If you are purchasing a property, ensure you have a written notification advising if you have a withholding obligation on the property or not. Withholding obligation... If you have a withholding obligation, you must: - ensure you have a written notification from the supplier stating if the sale is subject to GST - lodge Form one: GST property settlement withholding notification - lodge Form two: GST property settlement date confirmation - pay the withheld amount to us (to the nearest dollar). You don't need to register for GST just because you have a withholding obligation. If you're unsure or require further advice regarding the information provided in the supplier's notification, you should seek advice from us or your tax professional. You may incur penalties if you fail to lodge the forms and make the payment to us. We won’t impose penalties when it's reasonable for you to rely on a notification from a supplier. However, if you know a supplier is registered for GST and they’re selling new residential premises not previously sold, it's unreasonable not to withhold and pay an amount to us at settlement. Source: ATO Speak to your accountant. #PropertyTips #PropertyInvestors #MasterCapitalGroup #MCG #Finance #AFSL #Property

15.01.2022 Victoria could be next to revamp stamp duty. Victoria has been tipped to be the next Australian state to consider stamp duty reform, with the state government expected to keep a close eye on New South Wales’ proposal to replace the tax with an annual levy. Under the proposed system, homebuyers as well as residential and commercial property investors would be given the choice of paying upfront stamp duty and annual land tax or swapping to a new yearly property tax.... But lower barriers to entry and the ‘buy now, pay later’ nature of the proposed annual property tax could ultimately increase property prices. https://www.apimagazine.com.au//victoria-could-be-next-to/ #PropertyNews #PropertyInvestors #MasterCapitalGroup #MCG #Finance #AFSL #Property

14.01.2022 We are excited to invite you to our LIVE webinar: "Conversation with Peter Hutchinson & Darren Jinkins on property & tax" on Thursday, 1st Oct 2020 @ 10:30 AM... Register today: https://www.mastercapitalgroup.com.au/live-webinar-darren-j

14.01.2022 Do you have questions on 'property development finance'? Come and join us on the LIVE webinar and ask Peter. Find out more.... https://www.mastercapitalgroup.com.au/live-webinar-with-pet #LIVEwebinar, #MasterCapitalGroup #MCG #RPtectureArchitects #PeterHutchinson #VincentChoi #Property

14.01.2022 #HappyNewYear2021 #PropertyInvestors #MasterCapitalGroup #MCG #Finance #AFSL #Property #PropertyNews #PropertyTips

13.01.2022 GST at settlement process. For contracts entered into from 1 July 2018, follow these steps: Step 1: Supplier must notify purchaser... Step 2: Purchaser or representative lodges Form one GST property settlement withholding notification Step 3: Form one email confirmation Step 4: Purchaser or representative lodges Form two GST property settlement date confirmation Step 5: Purchaser makes the payment Step 6: Payment email confirmation Step 7: Supplier credit and email confirmation Step 8: Supplier lodges business activity statement (BAS) Source: ATO For further advice, speak to your accountant. #PropertyTips #PropertyInvestors #MasterCapitalGroup #MCG #Finance #AFSL #Property

13.01.2022 How to transform your home without renovating. Considering we’re spending more time than ever between the same four walls, you might be looking around at your home and dreaming of renovating. And while they say a change is as good as a holiday, renovating can be costly and inconvenient especially if you have to move out of the place while work is underway. ... Luckily, you don’t necessarily need to renovate in order to dramatically change your living quarters. Sydney interior designer and author of Make a Home to Love Anna-Carin McNamara believes you can transform your home with simple design tips and tricks. https://bit.ly/33h7k0Y

12.01.2022 What Millennials Want In A Home. More Australian millennials are expected to break into the property market in the next few years, taking advantage of a sector hampered by the coronavirus crisis, a recent ING homeownership report has revealed. Why should investors target millennials?... Millennials are poised to become Australia’s largest age group by the decades’ end, accounting for more than half of the country’s population. On top of that, a recent Suncorp report revealed that members of the millennial generation are Australia’s best savers, making them an ideal market for investment properties. Here are four things millennials look for in a home: 1. Sustainability 2. Connectivity 3. Good location 4. Multi-purpose COVID-19 has fundamentally changed the way we live our everyday lives. Lockdown taught us to work, exercise, entertain, learn, and parent all under the one roof. It’s turned our humble homes into essential multi-purpose lifestyle hubs, Millennials will be looking for homes with multifunctional spaces to allow them to do various activities. An area to accommodate and entertain friends could also be an essential add-on. https://bit.ly/3hZbH62 #PropertyTips #PropertyInvestors #MasterCapitalGroup #MCG #Finance #AFSL #Property

12.01.2022 Apartments v detached houses: Which should you buy? One of the many trends the COVID-19 pandemic has borne is the demand for more space, which has boosted house rentals and their price growth levels. This growing trend, Dr Wilson opined, needs to be heeded by investors looking to make a smart buy.... People are now saying, ‘Well, I need an extra room or an extra two rooms for an office’. So, they’re looking now to either rent or own or to move into a house rather than a unit. Now, this is putting pressure. And again, as we’ve mentioned, there is an underlying undersupply, particularly in houses in most capital city markets. So, I think the opportunities there are reflecting those lower vacancy rates and higher prices, in the middle ring and outer suburban detached houses. And I think that’s where the energy will come, or the drive will come from investors will be in those particular markets, said Dr Wilson. I think the big drive from investors five years ago was apartments. But I think now we’re certainly looking more towards, I guess, the traditional detached house as an investment opportunity, Dr Wilson explained. https://bit.ly/2ZH7zB1 #PropertyTips #PropertyInvestors #MasterCapitalGroup #Finance #AFSL #Property

11.01.2022 Robust Capital Gains Predicted For Victoria. The Victorian housing market is projected to realise substantial growth over the next 12 months, according to the latest prediction by Riskwise Property Research. Houses in Greater Melbourne and the regional areas with access to the capital city continue to register robust demand, which is supported by ultra-low interest rates and strong buyer sentiment. These factors could potentially result in an 8% to 12% capital gain over the n...ext year. According to the report, a double-digit growth is likely for houses in Melbourne given the low availability of stock. But while there’s ostensibly a reasonable number of listings in Melbourne, competition for family-suitable homes in desirable areas is still running at a high level, and price growth is very likely," Wargent said. https://bit.ly/3qFIPVG #PropertyNews #PropertyInvestors #MasterCapitalGroup #Finance #AFSL #Property

10.01.2022 Where to now for the property market? The prospect of further lockdowns around the country would have a significant impact on local businesses and the economy; however, what we do know is that the property markets withstood these significant disruptions in the past. The property market has remained surprisingly resilient despite lockdowns. - There will always be a demand for housing... - Returning expats will counter slowed migration in the short term - The property market will remain stable Housing is a basic human need. Businesses might decide to take less office space, or work from home completely during these times, which will impact the commercial property market. However, people will still need to buy or purchase a home as a place to live. This means that the residential property market is likely to remain stable as there will always be demand, even during tough economic times. Overall, however, investors can be confident that the property market is resilient. We’re not likely to see steep price falls, and certainly not in the long term. https://bit.ly/3c7NlWF #PropertyNews #PropertyInvestors #MasterCapitalGroup #MCG #Finance #AFSL #Property

10.01.2022 Single parents to get huge boost in Federal Budget Single parents will be backed to buy their own home with a deposit as modest as 2 per cent under a new housing program to be announced in Tuesday’s budget. The program, to be known as the Family Home Guarantee, is designed to help single mothers and fathers overcome one of the biggest hurdles to achieving the dream of homeownership.... The new Family Home Guarantee for single parents will support up to 10,000 single parents with dependants over four years, commencing 1 July 2021. But it will help not only first home buyers but also single parents attempting to re-enter the housing market after divorce and family breakdown. Like the existing First Home Loan Deposit Scheme, it will be subject to property price caps that restrict the benefits based on the state where the single parents live. https://bit.ly/3uAqZVV #PropertyNews #PropertyInvestors #MasterCapitalGroup #Finance #AFSL #Property

10.01.2022 Why would-be buyers are no longer playing it safe The dire shortage of property listings are forcing ‘nervous Aussies’ to make more risky property purchases, according to a sales director. It’s being fuelled by a significant surge in demand from those who sat on their hands last year and are now eager to make up for lost time, according to Upside Realty director of sales James Kirkland.... Traditionally, home owners would play it safe selling their home before purchasing a new one. But now, Mr Kirkland said real estate agents are now reporting buyers in some instances rushing in to make a purchase before they’ve sold their principal residence. We usually see natural movement in the market, but this hasn’t occurred in the last 12 months due to so much uncertainty and people holding off selling, the director explained. In January 2021 alone, Mr Kirkland and the Upside Realty team saw an 86 per cent increase in the average number of groups attending their open homes when compared with January 2020. https://bit.ly/2MaauyS #PropertyNews #PropertyInvestors #MasterCapitalGroup #Finance #AFSL #Property

09.01.2022 The main differences between commercial and residential property investments. Before you look into commercial property investment, it’s important to recognise that there are considerable differences between commercial and industrial properties compared with residential real estate. The most common ones can be summarised as follows (13):... 1. Commercial properties tend to yield a higher return than residential properties. That’s because professional investors require a higher rental return from their commercial properties to make up for the relatively weaker capital growth, the longer vacancy factors and potentially higher risks. 2. Leases for commercial properties tend to be for longer periods, often three to 10 years as opposed to the six or 12-month lease, which is common in residential properties. 3. Rents are usually charged as a rate per square meter and rent reviews are incorporated in the lease document. Rent reviews may be calculated every year or 18 months for example and can be an increase to market rental or an increase by the increase in the amount of the CPI. Some leases have a clause preventing the rent to drop even if the prevailing market rent drops. 4. Tenants in commercial properties usually pay all the outgoings such as rates, taxes and insurance, while with residential property the landlord pays these. 5. Because your tenant conducts their business from your commercial property, they tend to look after it better than residential tenants do, usually maintaining and painting the property. and more...https://www.smartpropertyinvestment.com.au//21903-the-main #PropertyTips #PropertyInvestors #MasterCapitalGroup #MCG #Finance #AFSL #Property

06.01.2022 RBA makes latest official cash rate call The Reserve Bank of Australia has made its May call on the official cash rate, with the economy said to be a long way from the conditions needed to precede a rate rise. In line with expectations, the RBA has held the cash rate at a record low 0.1 of a percentage point.... The decision to leave interest rates on hold came as no surprise to economists, with the RBA openly repeating on several occasions that rates will likely remain as they are until 2024 at the earliest. "The RBA mantra is intact we won’t be seeing a rise in interest rates for a very long time," Mr Dale said. https://bit.ly/3uiDeXc #InterestRates #FinanceNews #PropertyNews #PropertyInvestors #MasterCapitalGroup #Finance #AFSL #Property

06.01.2022 Time to sell your home? Here's how to style it like a pro. Investing a little time and money upfront to get the presentation right can add thousands of dollars to the final sale price. Presentation is a critical part of selling a property as it directly contributes to how buyers feel about your home.... If your property looks fantastic in the photographs used for the advertising, more buyers will be enticed to inspect your home. Here are our top tips for presenting your property for sale. 1. Make a good first impression 2. Pay attention to detail 3. De-clutter 4. Spruce up the garden 5. Make it shine 6. Set the mood https://www.moneymag.com.au/tips-getting-house-ready-sell-s #PropertyTips #PropertyInvestors #MasterCapitalGroup #MCG #Finance #AFSL #Property

06.01.2022 Almost half of investors want to bolster portfolio in 6-12 months. According to the 2020 PIPA Annual Investor Sentiment Survey, which gathered insights from over 1,000 property investors during August, Australians remain largely optimistic about buying in the months ahead. In fact, the survey found that 44 per cent of investors are looking to purchase in the next six to 12 months.... Indeed, about 67 per cent of investors believe that now is a good time to invest in residential property, according to the survey. About 90 per cent of investors believe the property investment industry should be regulated and licensed the same way financial planners, mortgage brokers and real estate agents are, Mr Koulizos said. As an Australian Financial Services Licence (AFSL) holder, Master Capital Group couldn't agree more with the investors on the regulation and licensing. https://bit.ly/3c9YDcL #PropertyNews #PropertyInvestors #MasterCapitalGroup #MCG #Finance #AFSL #Property

06.01.2022 Victorian budget: Stamp duty discounts a win for homebuyers. Major stamp duty discounts unveiled in Tuesday’s state budget are expected to provide massive savings for homebuyers and a real shot in the arm for the housing sector. The Urban Development Institute of Australia’s Victorian chief executive Danni Hunter said this was exactly what her organisation had asked of the budget.... Ms Hunter said the move complemented other budget measures notably a $5.3bn investment in social housing and land tax discounts of 50 per cent for developers who delivered build-to-rent housing to create the most comprehensive housing package in a generation. Property Council of Australia Victorian interim executive director Matthew Kandelaars expected the stamp duty waivers to have an immediate and positive effect for first-home buyers, families and retirees. The 50 per cent new-build discount in particular would encourage people to buy in the city’s growth corridors. This is great news for first-home buyers and investors in particular because affordability has been a huge issue, she said. https://www.realestate.com.au//victorian-budget-stamp-dut/ #PropertyNews #PropertyInvestors #MasterCapitalGroup #MCG #Finance #AFSL #Property

05.01.2022 LIVE webinar with Darren Jinkins from Hughes O’Dea Corredig - SMSF Firm of the Year 2020 Winner. Want to know about the tax obligations, including income tax, capital gains tax (CGT) and GST when buying, selling, investing and developing properties? Come and join us on this LIVE webinar:... https://www.mastercapitalgroup.com.au/live-webinar-darren-j See more

04.01.2022 Our capability statement. Master Capital Group is a boutique firm that specialises in providing premium investment opportunities through residential property development funding for a client base of wholesale investors. Master Capital Group operates under the Australian financial services licence (AFSL: 470803) since 2015, to give clients the confidence of our roles and responsibilities in accordance with ASIC’s compliance and regulations.... Our management team has managed over 50 property development projects including project management role, subdivision, townhouse, apartment and mixed use development projects, total over $100 million. The leadership team of Master Capital Group has over 100 years of combined experiences and expertise in various roles ranging from finance, legal, capital raising, ASIC regulation, construction, investment, property development, sales and marketing. Our management team has dealing with clients of diversified background and cultures in a private company, public corporation and government level. We have a team of staff who are fluent in English, Mandarin and Cantonese to serve clients locally and internationally. https://www.mastercapitalgroup.com.au/#capability-statement

04.01.2022 Knock knock! Oh, you want to come in? Register here:... https://www.mastercapitalgroup.com.au/live-webinar-darren-j See more

04.01.2022 Westpac projects 15% rebound in property prices. Record-low mortgage rates and a less severe recession than feared are set to pave the way for a V-shaped recovery in residential property market, according to Westpac’s chief economist. Westpac chief economist Bill Evans has revised his residential property price projections amid signs of stronger than expected economic recovery.... https://www.mortgagebusiness.com.au//14955-westpac-project #PropertyNews #PropertyInvestors #MasterCapitalGroup #MCG #Finance #AFSL #Property

04.01.2022 Five creative ways to start transferring money to your kids and grandkids. If you're financially secure enough to cover your own financial needs, you might be thinking about transferring wealth to your children or grandchildren. Firstly, you need to understand your reasons for transferring wealth, and the problems that may arise - including the unequal distribution of assets or who gets what.... "Why do you want to start transferring wealth? Once you know the why, then you can look at the how and the what," says Harry Goldberg, financial planner from Purpose Advisory. - Set up a trust - Mortgage offset - Top up superannuation - Passing on property - Investment bonds https://www.moneymag.com.au/transferring-money-kids-grandki

03.01.2022 Peter: Which entity should I set up when purchasing an investment property? Darren: I can tell you tomorrow Come and join a conversation with Peter and Darren on property and tax. ... Register today: https://www.mastercapitalgroup.com.au/live-webinar-darren-j

02.01.2022 It's great to be able to have coffee and network with Vincent Choi at RPtecture Architects #HappyNewYear2021 #PropertyInvestors #MasterCapitalGroup #Finance #AFSL #Property #VincentChoi #RPtectureArchitects

01.01.2022 Australia's housing market was among the top performers globally in terms of price growth over the first six months of 2020, according to a study from Knight Frank.

01.01.2022 As Australian property markets recover from a tumultuous 2020, most experts believe that this new year is shaping up to be stellar for real estate. Property Investment Professionals of Australia’s (PIPA) chairman Peter Koulizos said that 2021 will be a better year than 2020, particularly for the residential property market, as capital cities are expected to see a higher rate of value increases. Further, historically low-interest rates and pent-up transactional energy are also... likely to continue to provide a lift to the market in the early part of the new year, according to Kevin Brogan, Herron Todd White’s director of valuation policy and compliance. Demand has reacted strongly to renewed market confidence and has been running ahead of supply in many markets, if this continues into 2021, it will continue to exert an upward pressure on established residential property prices, Mr Brogan added. The announcement of large infrastructure projects is setting the scene for longer term post-COVID economic recovery. According to him, the economic recovery will set the scene for 2021 as business and consumer confidence return and a vaccine program begins its roll-out across the country. #HappyNewYear2021 #PropertyInvestors #MasterCapitalGroup #MCG #Finance #AFSL #Property #PropertyNews #PropertyTips

01.01.2022 Can home buyers still apply for the deposit scheme? Borrowers who are looking to take advantage of the additional slots for the deposit scheme are encouraged to apply through a participating lender before 30 June. According to the National Housing Finance and Investment Corporation (NHFIC), the 1,800 unused slots from the 2019-20 financial year will be rolled over into the current financial year.... The NHFIC said that the unused guarantees can be used for the purchase of new or existing homes. The standard requirements will still apply for these additional spots for the scheme. On 1 July, another 10,000 spots will be available for the next financial year. A recent report from the Customer-Owned Banking Association (COBA) showed that the deposit scheme has boosted the activity in the alternative banking sector. The sector posted a 1.32% home loan growth over the December quarter, higher than the average gain the whole banking system recorded at 0.57%. According to COBA's figures, more than 8,300 first-home buyers have now purchased a property with a loan from one of the 20 customer-owned banking institutions on the scheme’s panel of lenders. Borrowers who would like to apply for the scheme can do so through these participating lenders: http://bit.ly/3ayevXy #PropertyNews #PropertyInvestors #MasterCapitalGroup #Finance #AFSL #Property