Tim Ayres (NSW, Australian Labor Party, Assistant Minister for Trade) Share this | Hansard source

Shall I respond to Senator Roberts's question?

The TEMPORARY CHAIR: That would be helpful.

There are two questions, I think, sitting in Senator Roberts's question. Will the government own people's homes or will the government be on the title? The answer to that is very straightforward. Contrary to Senator Bragg's political assertion, the government will not be a co-owner of scheme properties and will not be on the title; rather, the government's contribution in participants' homes will be secured through a second mortgage. The government's interest is more akin to a private mortgage holder. Help to Buy applicants will need to be approved for a mortgage with a lender participating in the scheme. That is the role that lenders will have in the Help to Buy scheme. Lenders will manage those mortgages just as they typically do with other home loans.