New Tool Launched for First Home Loan Deposit Scheme

Applications for the Scheme open on 1 January 2020.

NAB was announced last week as the first lender to be appointed to the panel with the remainder of the panel to be announced in coming weeks.

The new interactive questionnaire, available here, guides applicants through the key Scheme eligibility criteria.

The tool is provided as a guide only and does not mean that people using it will receive either a guarantee or a loan from a participating lender.

The eligibility tool complements the property price lookup tool that has also been developed to assist first home buyers determine the property price threshold that applies under the Scheme in relation to properties in every suburb around the country.

NHFIC has received strong interest from both potential first home buyers and lenders in the Scheme, having responded to more than 1,300 enquiries about the Scheme to date.

Applications for the Scheme are not yet open. First home buyers wishing to apply for a guarantee will need to do so through participating lenders and their brokers. NHFIC will not accept applications directly.

Further information about the Scheme is available on NHFIC’s website.

Media contact

Fiona Benson | fiona.benson@nhfic.gov.au | 0407 294 620