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Bank of us selected to join First Home Loan Deposit Scheme Panel

Tasmanian customer owned bank, Bank of us has been selected by the National Housing Finance and Investment Corporation (NHFIC) to join the panel of lenders participating in the Australian Government’s new First Home Loan Deposit Scheme.

“We were established in 1870 as a Building Society, with a sole purpose of providing housing finance to Tasmanians”, said Bank of us CEO Paul Ranson.

“Almost 150 years later, as the only Tasmania customer owned bank we are in the enviable place of being able to hold true to our original purpose - providing housing finance to Tasmanians through competitive market rates, and an innovative partnership with Wilson Homes (Tasmania’s largest residential builder) for new home buyers.

“And by being chosen to offer mortgages under the scheme, we are looking forward to helping even more Tasmanians purchase their own home sooner.”

The First Home Loan Deposit Scheme will support eligible first home buyers by providing a guarantee that will allow those on low and middle incomes to purchase a home with a deposit of as little as 5 per cent.

The Scheme will support up to 10,000 loans each financial year, starting from 1 January 2020.

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Check your eligibility on the NHFIC website:

First home Loan Deposit Scheme eligibility