03 Oct 2020

NAB welcomes expansion of First Home Loan Deposit Scheme

NAB is looking forward to helping more Australians buy their first home with the expansion of the First Home Loan Deposit Scheme.

The Federal Government, in partnership with National Housing Finance and Investment Corporation (NHFIC), today announced it would add 10,000 places to the Scheme for eligible customers to build a new home or purchase a newly built property.

NAB Executive Home Ownership Andy Kerr said NAB welcomed the expansion of the Scheme which has already helped thousands of Australians into their first homes this year.

“We’re strong supporters of the Scheme as it helps Australians own their first home sooner and provides a boost to the residential construction industry,” Mr Kerr said.

“We’ve now supported more than 2,700 Australians buy their first home through the Scheme since January 1 and are currently helping a further 1,800 customers search with confidence with a NAB conditional approval.

“It’s been great to see incredible interest in the Scheme and we continue to hear stories of customers right across Australia buying a home much earlier than they thought possible. In many cases it has given hope and confidence to people who have been working hard for many years to save a deposit and enter the property market.

“We look forward to supporting thousands more in partnership with the Federal Government and NHFIC.”

 For more information on the First Home Loan Deposit Scheme, or to book an appointment with our specialist team of lenders, visit nab.com.au/fhbscheme.

  Background 

  • The First Home Loan Deposit Scheme is an initiative by the Australian Government to support eligible first home buyers purchase a home sooner. The Scheme provides a guarantee to lenders to allow eligible first home buyers on low and middle incomes to purchase a home with a deposit as low as 5 per cent of the purchase price.
  • NAB was the first lender selected to participate in the FHLDS by the National Housing Finance and Investment Corporation (NHFIC) in November 2019.
  • NAB supports more than 15,000 Australians into their first home every year.
  • Customers can check their eligibility on the NHFIC website.

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