First Home Loan Deposit Scheme commences

In anticipation of the commencement of the Federal Government’s new First Home Loan Deposit Scheme, the National Housing Finance and Investment Corporation (NHFIC) is commencing detailed consultations with lenders regarding their potential participation in the Scheme.

The Scheme is expected to commence on 1 January 2020 and will be administered by the National Housing Finance and Investment Corporation, subject to the passage of legislative amendments and changes being made to NHFIC’s Investment Mandate.  The Federal Government has introduced legislative amendments to give effect to the Scheme, which are currently before the Parliament.

Market sounding process for First Home Loan Deposit Scheme

NHFIC is seeking feedback from lenders on the implementation of the Scheme via a market sounding process. This market sounding is the pre-cursor to a procurement process which will be used to establish a panel of lenders to participate in the Scheme.  All residential mortgage lenders are welcome to participate in the market sounding process.  The NHFIC is making a Scheme Features paper available and participants are encouraged to provide feedback on the points in the paper identified for consultation. 

If you would like to obtain a copy of the Scheme Features paper please email the NHFIC at lenders@FHLDS.nhfic.gov.au.