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The First Home Loan Deposit Scheme is an Australian Government initiative to support eligible first home buyers to purchase their first home sooner.

The Scheme aims to support first home buyers through a limited Government guarantee to eligible customers who have a minimum 5% deposit, without Lenders Mortgage Insurance (LMI). The guarantee will only be provided through certain financial institutions, selected by NHFIC as a participating lender.

The Government has announced a maximum of 10,000 Government guarantees under the Scheme, per tax year, to be made available across all the selected participating lenders.

Further information about the Scheme, eligibility criteria and property price caps can be found on the, opens in a new window 


Banks commenced accepting scheme place reservations from eligible customers on 1 February 2020, however if all available Scheme places have now been reserved, further requests to reserve a scheme place will be waitlisted. Scheme places are reserved for 10 business days before they expire depending on the lender (unless they have progressed to Conditional Approval stage) and are released back into the pool to be available for reservation. As such, further Scheme places may become available in the event reserved places expire without progressing to Conditional approval. 

Please note that waitlisted customers are not guaranteed a Scheme place however will be given priority for future Scheme places 


Please refer to the FHLDS General FAQs for information on how to assist your customer conversations

If you have any questions or would like to know more about the Scheme please contact us.

Finance Circle Group

Finance Circle Group is not a property agent or financial advisers. This article is general and has not taken into account your objectives, financial situation, or needs. Consider whether any advice is right for you. You may need financial advice from a qualified adviser. Consider the product disclosure statement (PDS) before making any financial decision.