12 December, 2019

Teachers Mutual Bank Limited has today announced its selection by the National Housing Finance and Investment Corporation (NHFIC) to the lending panel for the Federal Government’s First Home Loan Deposit Scheme.

The addition of Teachers Mutual Bank Limited to the panel will allow the Bank to help more Australians break into the property market. The Scheme will assist eligible first home buyers to purchase a house with a deposit between five and twenty percent of the property’s value.

Commenting on the selection, Steve James, CEO of Teachers Mutual Bank Limited said:

“We’re really proud to have been selected from lenders across the country to work with NHFIC and the Federal Government in implementing the First Home Loan Deposit Scheme.

“We believe our inclusion in this Scheme to be further endorsement of our home loan offering and superior member support. In 2018-19 we grew our home loan book at three times the average for the banking system (9.7%) and continued to attract more members and grow our community to over 205,000 Australians.

“Buying your first home is a significant life milestone and this Scheme is a great opportunity for our Bank to help even more members on their journey to first home ownership.”

The Scheme will be operational with Teachers Mutual Bank Limited in early 2020, with further updates on the commencement date to come. Eligibility can currently be assessed on the NHFIC website.

For more information on the First Home Loan Deposit Scheme, please visit the NHFIC website.

 

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