First Home Loan Deposit Scheme Lenders Accepting Applications For The New Round Of Places

First Homebuyers are now able to apply to the First Home Loan Deposit Scheme lending panel of around 27 lenders Australia-wide to secure a guarantee to build a new home or purchase a newly built home with a deposit of as little as five per cent.

The Scheme has continued to prove popular with First Homebuyers with just 363 places left across the country since an extra 10,000 spaces were released by the Federal Government at the beginning of the financial year. According to Treasury figures, 5,332 buyers have purchased using the program since July, while 4,305 have reserved a place and are looking for a home. (source)

Among those who have already bought, the majority were from Sydney (965), Melbourne (823), Brisbane (763) and Perth (373).

New rules for the most recently released round of spaces require eligible homebuyers to purchase only new or newly built homes. Pricing caps for major cities across the county were also lifted giving homebuyers more cash to splash on their first home.

First Home Buyers flood the market buoyed with confidence and government support.

In September, the Australian Bureau of Statistics’ lending indicators data showed that first home buyers are flooding into the housing market, with the number of loans to first home buyers reaching the highest number in over a decade.

The total number of owner-occupier first home buyer loan commitments rose 6.0 per cent to represent 40 per cent of the total number of owner-occupier loans issued in September.

The following lending panel members are ready to accept applications for a guaranteed loan to build a new home or purchase a newly built home:

Eligible first home buyers will also be able to take advantage of the Morrison Government’s HomeBuilder programme and First Home Super Saver Scheme, and may also be eligible for state and territory grants and concessions. Find out which Grants, Schemes and concessions you may be eligible for in your home state.

Combined, the First Home Loan Deposit Scheme, Homebuilder and First Home Super Saver Scheme represent an unprecedented level of Federal Government support for home buyers and the construction industry alike.

Looking to take advantage of the various grants, schemes and concessions available to purchase your first new home? Get in touch and speak with one of our friendly property experts today about how we can help.

Call us on 1300 123 463 or email us on info@ibuynew.com.au