What’s in store for the First Home Loan Deposit Scheme

The Australian Government has announced it will introduce a First Home Loan Deposit Scheme (FHLDS) 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.

The Parliament of Australia passed legislative amendments to give effect to the Scheme on 15 October 2019.

NHFIC will provide further information about the detail of the Scheme including confirmed eligibility criteria, participating financial institutions, application and assessment processes, and updates on implementation of the new Scheme in due course.

NHFIC is also consulting with financial institutions and other key stakeholders leading up to the commencement of the scheme.

Please note, applications for the Scheme are not yet open, but all current details can be found at – nhfic.gov.au/what-we-do/fhlds/

While we wait for more details to materialise, check out what is on offer right here in South East Queensland!