Federal Liberals’ plan to help first-time homebuyers to kick in weeks before election – Port Alberni Valley News

Federal Liberals’ plan to help first-time homebuyers to kick in weeks before election – Port Alberni Valley News

There was an article on the BBC the other day about how the average first time home buyer in the UK will have a “£50,000 rent bill” before purchasing their first home. In fact one of the people they quoted stated how thankful they were that they had purchased a property as it meant that they had stopped throwing their money at someone else.

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Saving for a mortgage down payment can be hard for first-time homebuyers. The B.C. Home Owner Mortgage and Equity Partnership program contributes to the amount first-time homebuyers have already saved for their down payment, providing up to $37,500, or up to 5% of the purchase price, with a 25-year loan that is interest-free and payment-free for the first five years.

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Ontario Premier Kathleen Wynne says her government’s plan to help first-time home buyers will involve a "small change," not a radical shift in the way the housing market works in the province.

BC Budget 2016 will be tabled tomorrow but we already know it will include a break on MSP premiums for some single parents, $50 million for new affordable housing initiatives this year (with funding also committed in each of the next four years), help for first-time home buyers, more resources for the long neglected BC child welfare system.

Ontario’s Liberal government will present its final budget today before voters head to the polls in early June. The 2018 budget caps off days of policy announcements that have seen the party.

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The motion came more than 50 days after the provincial election that saw the BC Liberals lose their majority in the house. It’s a historic moment – the first time in more than 60 years that a BC government has lost a confidence vote. NDP-leader, and presumed future premier, John Horgan issued this statement shortly after the vote.

Voting polls have closed and we’ll soon know who will govern B.C. after a 28-day hard-fought campaign. Decision day in B.C. saw some last-ditch appeals for support from party leaders amid polls.

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