All non-major FHLDS places now reserved

“All 5,000 places allocated for participating non-major banks within the FHLDS have now been reserved for the 2020-21 financial year”.

“The FHLDS aims to provide up to 10,000 first home buyers (FHBs) per financial year with access to housing finance with a deposit of at least 5 per cent”.

The FHLDS also supported one in eight of all first home buyers who purchased a home in Australia between March and June 2020 (or one in six in Queensland and NSW).

Over the first six months of the scheme, and in line with the broader market, almost half (46.1 per cent) of all loans guaranteed originated from a mortgage broker. A further 38.4 per cent originated from typical bank branches, and the remainder came from other sources such as mobile and online lenders, and by telephone.

Excluding the month of January (when only the two major banks were offering FHLDS loans, and only through their proprietary channels), the proportion of mortgage-brokered loans under the scheme was 53.4 per cent. 

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