First home buyers should be able to obtain a mortgage by having an investor or Govt as a sharer of the equity in the property.
The Federal Govt should offer to buy part of the equity of a property for first home buyers to enable them to purchase a property. The amount could vary up to say $100,000 and as time goes on and the property increases in value and repayments become more manageable for the buyer, the Govt share would be bought by the home owner so that by the time the buyer retires the home is fully owned by the buyer.
Home ownership should be looked at by the Federal Govt as a long term benefit for all Australians to off-set pensions for those who do not have enough superannuation to fund their retirement. The Federal Govt currently provides a HECS loan to a University student to enable them to attend University which do not have any security and often go unpaid.
With a split equity loan as the property would be partly owned by the Govt their share would increase in value as the property increases in value, thereby providing a return on the Govt investment. A Super fund or other investor organisation could take the place of the Govt for these types of mortgage.