First Home Loan Deposit Scheme.

An initiative by the Australian Government
to help first home buyers to purchase
a home sooner.

About the Scheme.

Beyond Bank is proudly participating in the First Home Loan Deposit Scheme. The Australian Government has introduced the Scheme to support first home buyers buy their home sooner. The National Housing Finance and Investment Corporation (NHFIC) provides a guarantee that will allow eligible first home buyers to purchase a home with a deposit of as little as 5%, without the need to pay Lenders Mortgage Insurance (LMI).

Customers must meet the Scheme’s eligibility criteria, but rest assured we’re here to support you, every step of the way.

Key features.

What’s great about the Scheme?

Typically, you need a 20% deposit to buy a home. Under the Scheme, you only need minimum 5% as the NHFIC will provide a guarantee to us for 15% so that you avoid paying for Lenders Mortgage Insurance.

Am I eligible?

There is different eligibility criteria for singles and couples. Click here to see if you’re eligible.

How do I find out more?

Call us on 13 25 85, or you can arrange to speak with one of our Home Loan Specialists.

How do I apply?

Applications for the First Home Loan Deposit Scheme with Beyond Bank have opened again. You can apply to the scheme in different ways:

Submit an enquiry to make an appointment with one of our Home Loan Specialists.

Contact our Customer Relationship Centre. Monday-Friday 8.00am- 8.00pm, Saturday 9.00am- 3.00pm ACST.

Visit us in branch and our friendly staff will help you to understand and navigate the process.

Changing the lives of our customers.

“I heard about the First Home Loan Deposit Scheme through real estate agents, my parents and through Beyond Bank. They did all the hard work for me. They made it really easy. My advice, start the process now. Start looking so you don’t miss out on what you really want!” Clancy Bennett (May, 2020)

First Home Loan Deposit Scheme FAQs.

goal-home Home Loans

The First Home Loan Deposit Scheme is the Australian Government initiative to support eligible first home buyers purchase a home sooner.

  • The guarantee is not a cash payment and it will be provided to the lender, not you as the borrower.
  • The guarantee will be issued by NHFIC.
  • Customer applications are accepted via participating lender.

The Scheme supports up to 10,000 First Home Buyer Loans each financial year from all participant lenders. Customers who are First Home Buyers and meet the eligibility criteria of the Scheme can apply with Beyond Bank to reserve a place in the Scheme from 1st of July 2020. Please note, Scheme places are provided on a “first come, first served” basis and a loan application with Beyond Bank does not guarantee a place in the Scheme.

Terms, conditions, fees, charges and normal lending criteria apply; these will be provided at application or on request. Please review our Financial Services Guide and Product Guide by calling us on 13 25 85 to request a copy or by visiting a branch.

This information has been provided without taking into account any of your objectives, financial situation or needs. You should consider whether it is suitable for your circumstances before acquiring this product.

Once allocation of guarantees under the Scheme have been taken up, standard lending approval criteria, including the need for LMI where appropriate, will apply.

A loan application to Beyond Bank does not guarantee a place in the Scheme.

All loans are provided by Beyond Bank Australia Ltd. ABN 15 087 651 143 AFSL/Australian Credit Licence 237 856.

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