Majors welcome second release of FHLDS places

by Madison Utley02 Jul 2020

Two major banks have welcomed the second release of 10,000 placements under the government’s First Home Loan Deposit Scheme (FHLDS) for this financial year.

CBA group executive Angus Sullivan emphasised the significant role the bank played in the initial release of spots.

“We help more Australians into their first home than any other lender,” he said.

“Since the beginning of the year, we’ve helped more than 2,500 customers purchase their first home under the scheme which is more than any other bank.”

“We’ve seen a great deal of interest from first homebuyers and renovators in new loans and top-ups which correlates with the resilience we are seeing in the broader housing market,” he said, adding that CBA expects demand for places this time around to be similar to when the scheme first launched.

NAB has also encouraged prospective first home buyers to apply for conditional approval and a scheme place through their broker or banker.

“Today, [1 June], thousands more spots became available and we look forward to helping many more Australians buy their first home,” said NAB group executive for personal banking, Rachel Slade.

“We encourage interested first home buyers to submit an application through a NAB banker or their broker as soon as possible as places are limited.”

To date, NAB has assisted more than 1,000 Australians in purchasing their first home through the scheme.

“We have seen significant interest in the scheme since it launched in January and anticipate strong demand for the new places,” Slade said. 

“While the housing market has been impacted by COVID-19 with stock levels declining, the first home dream still burns bright and first-time buyers remain very active – and we stand ready to support them.”