Market sounding process for First Home Loan Deposit Scheme commences

Market sounding process for First Home Loan Deposit Scheme commences

Thursday 3 October 2019

In anticipation of the commencement of the Federal Government’s new First Home Loan Deposit Scheme, the National Housing Finance and Investment Corporation (NHFIC) is starting detailed consultations with lenders regarding their potential participation in the Scheme.

The Scheme is part of the Federal Government’s action to help more first home buyers purchase a home more quickly.

The Scheme is scheduled to commence on 1 January 2020 and will be administered by NHFIC, subject to the passage of legislative amendments which have been introduced into the Parliament today.

NHFIC is seeking feedback from lenders on implementation of the Scheme via a market sounding consultation 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 participants for the purposes of the market sounding process.

Further information on the market sounding process, including how lenders can participate and obtain a copy of the Scheme Features paper, is available via the NHFIC website https://www.nhfic.gov.au/fhlds/ or by emailing Lenders@FHLDS.nhfic.gov.au  

Additional details regarding the Scheme will be provided in due course.

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

 

Media contact:

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