First Home Loan Deposit Scheme (FHLDS)


On Wednesday, January 1st 2020, the Australian Government released a First Home Load Deposit Scheme (FHLDS). 


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This scheme will support 10,000 first home owners with purchasing a new home within this financial year. 


Those eligible for this scheme will only need to pay as little as 5% deposit, with the rest of the 20% deposit (15%) being covered by the scheme. Buyers also won’t need to pay the lenders mortgage insurance. 


As of January 1st 2020, 3,000 potential first home owners have already registered for this scheme.


As of February 1st 2020, the other 7,000 places for the scheme will become available. 


A total of 27 banks, two major banks – CBA and NAB, as well as 25 non-major banks, will be participating in this scheme.


For more information on the FHLDS, visit here.


  • An Austrian Citizen who are at lease 18 years of age.
  • For singles: a taxable income of up to $125,000 p.a for the previous financial year.
  • For couples: a taxable income of up to $200,000 p.a for the previous financial year.
  • Couples applying must be married or in a de-facto relationship.
  • Those buying with friends, siblings or parents will not be eligible.
  • Singles or Couples eligible must have at least 5% of the deposit saved, but any more than 20% of the deposit saved will not receive assistance from the government for the deposit.
  • Not available for investment properties, and those eligible should not have previously owned or had interest in a property in Australia separately or jointly.


To see if you are eligible for the FHLDS, visit here.






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