NHFIC first home deposit scheme

First Home Loan Deposit Scheme

The banks have registered 3,000 potential first home buyers under the First Home Loan Deposit Scheme since it started on January 1, according to NHFIC.

The remaining 7,000 Scheme places for the current financial year will be available from 1 February 2020 when potential applicants will have a panel of 27 lenders to choose from.

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

The staged release of Scheme places provides first home buyers with the opportunity to gather the necessary financial information to support their application and enables a broader choice between the major banks and smaller lenders. Twenty-five smaller lenders join the Scheme’s lending panel on 1 February.

Information on eligible properties and settlement dates can be found on the NHFIC website.