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AAP
AAP
Business
Kat Wong

INSANE: Older australians may win big from homebuyer scheme | Rare Historical Photos

Brendan Coates Peter Tulip
The federal government's Help to Buy scheme is not without drawbacks, the Grattan Institute says. (Tracey Nearmy/AAP PHOTOS)

Older renters who have already put down a deposit for a house could benefit most from the federal government's first homebuyer scheme.

Under the Help to Buy scheme, the Commonwealth would contribute 40 per cent of the value of a home for a new property, or 30 per cent for an existing one, allowing tens of thousands of first homebuyers to enter the market with as little as a two per cent deposit.

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