The list of 27 lenders who will be able to offer loans under the First Home Loan Deposit Scheme (FHLDS) has been released. Another Big Four bank joins the list, with the rest of the list made up of smaller players. Here’s when you can apply, and how to do it.
UPDATE: 2020 First Home Loan Deposit Scheme: lowest variable loan rate from each lender revealed
MORE INFO: First Home Loan Deposit Scheme – how to apply
The National Housing Finance and Investment Corporation (NHFIC) has released the list of residential mortgage lenders involved in the first round of the scheme, which kicks off on 1 January, 2020. The scheme is designed to help eligible Australian first home buyers – who have saved deposits as low as 5% – to get a loan, without needing to pay for lenders’ mortgage insurance (LMI). The scheme’s first round is available to 10,000 eligible first home buyers, who are purchasing properties that meet certain criteria, including fitting under a price cap based on their geographical area.
More on the scheme: Want to apply for the First Home Loan Deposit Scheme? Here’s how much you may need to save
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A journalist for more than two decades, Amanda Horswill has reported on a galaxy of subjects, including property, lifestyle, hyper-local news, data journalism, the Arts and careers.
She’s served as the Editor of Brisbane News, Deputy Features Editor for The Sunday Mail, Deputy Editor – Digital at Quest Community News, and a host of other senior positions at News Corp, prior to joining Australia’s biggest financial comparison website, Canstar.
Amanda is fascinated with the ever-changing world of finance. A passionate believer in the motto “knowledge is power”, she strives to translate the news into practical information that will help readers make informed decisions about their future. While at Canstar, her work has been regularly referenced by publishers such as the Sydney Morning Herald , The Age, The New Daily and Yahoo Finance.
Amanda holds a Bachelor of Arts (Journalism, Media Studies and Production, and Public Relations) and a Graduate Certificate in Editing and Publishing, from the University of Southern Queensland.
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