Home owners exit scheme that helped them buy a house

According to The Australian Financial Review, more than 1400 people have moved out of the federal government’s First Home Loan Deposit Scheme by refinancing their dwelling with a standard commercial mortgage, in a sign that the program is already playing a role in accelerating the transition into home ownership.
With more than 40,000 home-deposit guarantees issued, the number of people moving off the scheme is small but indicates that even after 2 ½ years, the program is making a difference.
The third report into the operation of the scheme, which generally allows buyers to purchase a home with only a 5 per cent deposit – the remaining 15 per cent of which is guaranteed by the government – also shows an increase in the number of younger buyers, with people in the 18-24 age range rising to 18 per cent of all guarantees in the year to June from 12 per cent in FY21.

https://www.afr.com/property/residential/home-owners-drop-scheme-that-helped-them-buy-a-house-20221103-p5bv7z