PHOTO: The National Housing Finance and Investment Corporation (NHFIC)
The National Housing Finance and Investment Corporation (NHFIC) is starting detailed consultations with lenders regarding their potential participation the Federal Government’s new First Home Loan Deposit Scheme.
The Scheme is scheduled to commence on 1 January 2020.
It will be administered by NHFIC, subject to the passage of legislative amendments, which have been introduced into the Parliament today.
It is known as the National Housing Finance and Investment Corporation Amendment Bill. Michael Sukkar, the Minister for Housing, presented the bill.
It seeks to establish a First Home Loan Deposit Scheme to assist eligible first home buyers with a minimum 5 per cent deposit (rather than the industry standard of 20 per cent) to purchase a home.
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