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The Guardian - AU
The Guardian - AU
National
Jordyn Beazley

Australia’s first-home buyers urged to ‘go in with eyes wide open’ about future rate rises

Laura Valencic, from Wollongong, will try to buy her first home using home loan guarantee scheme set up by the federal government.
Laura Valencic, from Wollongong, will try to buy her first home using a home loan guarantee scheme set up by the federal government. Photograph: Blake Sharp-Wiggins/The Guardian

Laura Valencic has never had the luxury of calling the “bank of mum and dad” to help her buy a home.

After the federal government announced more places under the first-home guarantee scheme in the budget, Valencic feels as though she finally has an in. But she’s wary of a potential pitfall in the future: will she be able to afford the mortgage repayments when interest rates rise?

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