First home loan deposit scheme update

NHFIC has released 10,000 First Home Loan Deposit Scheme places this financial year. Another 10,000 Scheme places will be available from July 2020.

5,000 Scheme places were made available to the major banks - CBA and NAB – all of which are now currently reserved.

The remaining 5,000 Scheme places for the current financial year are being offered through 25 non-major lenders.  Most of these Scheme places are still available to be reserved by potential first home buyers.

Even though all the Scheme places with the major banks are currently reserved, first home buyers can continue to engage with the major banks as the reserved Scheme places may become available if applicants do not proceed to purchasing a property.

If you have secured a Scheme place with one participating lender, you can still apply with any of the other participating lenders to ensure you can access a competitive loan rate. You will only receive one Scheme place.