Opposition housing spokesman Andrew Bragg has proposed allowing superannuation to be used as collateral for a housing loan, but Opposition Leader Angus Taylor has dismissed the idea as Coalition policy.
Bragg said the proposal was intended to improve the alignment between Australia’s retirement and housing systems, although he acknowledged it was not currently Coalition policy.
“It’s not a policy, but it’s certainly an idea,” Bragg told ABC’s 7.30. He said people could potentially use part of their superannuation to reduce the deposit required for a first home, or combine cash and superannuation to offset mortgage interest.
“So what we’re seeing now is high inflation, high interest rates, people paying a lot of interest on their mortgage,” he said. “So I think a lot of people would be interested in these ideas being further considered.”
Taylor said the Coalition’s formal policy position would be unveiled soon.
