QBANK selected as lender for First Home Loan Deposit Scheme

QBANK is looking forward to helping even more of our members get into the property market for the first time, after being selected as a panel lender under the Australian Government’s new First Home Loan Deposit Scheme (FHLDS).

The First Home Loan Deposit Scheme is an Australian Government initiative designed to support eligible first home buyers buy a home sooner. It does this by providing a guarantee that will enable first-time buyers to purchase a home with a deposit of as little as 5% without paying Lenders Mortgage Insurance.

“We are excited to be participating with the National Housing, Finance and Investment Corporation (NHFIC) on the First Home Loan Deposit Scheme,” QBANK’s Chief Executive Officer said.

“We continue to offer competitive solutions for our members, and it was important for us to participate in this scheme for the benefit of our members and their families.”

“We are looking forward to helping our members get into their first home sooner”, Mr Currie said.

Income limits and property price thresholds apply. Members can check their eligibility on the NHFIC website.

In support of the Scheme and QBANK’s commitment to first home buyers, QBANK will not charge eligible members higher interest rates than equivalent member outside of the Scheme.

Eligible members and their families will be able to apply for a scheme-backed loan with QBANK from 1 February 2020.

For more information visit the First Home Loan Deposit Scheme website.

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