NAB accepting applications for second round of FHLDS

NAB has today started accepting applications for the second round of the First Home Loan Deposit Scheme (FHLDS).

NAB Group Executive, Personal Banking, Rachel Slade said prospective first home buyers with NAB could now apply for conditional approval and a scheme place through a NAB banker or their broker.

“Today thousands more spots became available and we look forward to helping many more Australians buy their first home,” Ms Slade said.

“We encourage interested first home buyers to submit an application through a NAB banker or their broker as soon as possible as places are limited.”

First home buyers can get in touch with NAB’s specialist team of lenders through nab.com.au/fhbscheme.

To date, NAB has supported more than 1,000 Australians purchase their first home through the Scheme.

“We have seen significant interest in the Scheme since it launched in January and anticipate strong demand for the new places,” Ms Slade said.

“While the housing market has been impacted by COVID-19 with stock levels declining, the first home dream still burns bright and first-time buyers remain very active – and we stand ready to support them.”

Under the Scheme, up to 10,000 loans will be offered this financial year.

Background

  • The First Home Loan Deposit Scheme is an initiative by the Australian Government to support eligible first home buyers purchase a home sooner. The Scheme provides a guarantee to lenders to allow eligible first home buyers on low and middle incomes to purchase a home with a deposit as low as 5 per cent of the purchase price.
  • NAB was the first lender selectedto participate in the FHLDS by the National Housing Finance and Investment Corporation (NHFIC) in November 2019.
  • NAB supports more than 15,000 Australians into their first home every year.
  • Customers can check their eligibility on the NHFIC website.
  • NAB recently reduced its Base Variable Rate special offer by 0.15% p.a. to 2.69% p.a. (comparison rate of 2.69% p.a.). This is NAB’s lowest ever variable rate for homebuyers and available to owner occupiers paying principal and interest for new lending with up to 80% LVR. NAB also reduced its 2-year fixed rate on Principal and Interest loans for owner-occupiers to 2.19% p.a. (comparison rate of 4.02% p.a.).

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