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Council in Lismore Australia to Address Affordable Housing with Unique Innovative Guarantor Scheme to Help First Home Buyers

Dec 19 2007

The council for the city of Lismore in an idyllic area of Australia, has announced an innovative scheme to encourage people to live and work in the city. The coucil scheme will have them going guarantor on home loans for residents wishing to buy a house in Lismore.

The scheme is believed to be the only one of its type in the world and will initially be limited to the purchase of 50 homes. For people employed withing the Council area, they will cover the traditional loan deposit up to a value of $50000, with that amount to be paid back as a separate loan to the council.

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