The Scheme is expected to commence on 1 January 2020 and will be operated by the National Housing Finance and Investment Corporation (NHFIC).

First Home Loan Deposit Scheme

The Federal Government has announced it will introduce a First Home Loan Deposit Scheme to support eligible first home buyers purchase a home faster.

The Scheme is expected to commence on 1 January 2020 and will be administered by NHFIC, subject to the passage of legislative amendments.

The Federal Government has introduced legislative amendments to give effect to the Scheme, which are currently before the Parliament (see media release).

  • Please note, applications for the Scheme are not yet open.
  • NHFIC will provide further information about the detail of the Scheme including confirmed eligibility criteria, property price caps, participating financial institutions, application and assessment processes, and updates on implementation of the new Scheme in due course.
  • NHFIC will also be consulting with financial institutions and other key stakeholders leading up to the commencement of the scheme.

Market sounding process for lenders

In anticipation of the commencement of the Federal Government’s new First Home Loan Deposit Scheme, NHFIC is undertaking detailed consultations with lenders regarding their potential participation in the Scheme.

NHFIC is seeking feedback from lenders on implementation of the Scheme via a market sounding process. This market sounding is the pre-cursor to a procurement process which will be used to establish a panel of lenders to participate in the Scheme. It builds on initial stakeholder consultations undertaken to date.

All residential mortgage lenders are welcome to participate in the market sounding process. NHFIC is making a Scheme Features paper available to lenders for the purposes of the market sounding process and we encourage feedback on the points it identifies for consultation.

Lenders can obtain a copy of the Scheme Features paper by emailing

If you have any questions regarding the market sounding process, please email us at or call us on 1800 549 767.

Responses to the market sounding are required to be submitted before 5pm AEST on Thursday 3 October 2019.

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