30 June, 2020

Teachers Mutual Bank Limited has today announced it will be participating in the second release of the Australian Government’s First Home Loan Deposit Scheme (FHLDS, Scheme).

In the first round of the Scheme, Teachers Mutual Bank Limited was able to help members from across Australia break into the property market. In its second financial year, the Scheme will again assist 10,000 eligible first home buyers to purchase a house with a deposit between five and twenty percent of the property’s value.

Commenting on the second release, Mark Middleton, Head of Third Party Distribution, Teachers Mutual Bank Limited said:

“We are really proud to be working with the National Housing Finance and Investment Corporation (NHFIC) again to implement the FHLDS. In the first round, we saw great interest from our members and were able to help essential workers – in education, health and emergency services – from across the country get into the property market sooner than they may have planned.

“Buying your first home is a significant life milestone and the Scheme has helped a diverse range of our members to realise their home ownership dreams. Younger first home buyers in their 20s – 30s have accessed the Scheme, as well as members in their late 40s – 50s purchasing their first property.

“We are excited to help more of our members on their journey to home ownership, and we would like to remind future applicants to review the eligibility, price thresholds and NHFIC requirements to ensure the Scheme is right for them.”

The Scheme will be available under all Teachers Mutual Bank Limited home loan offerings, including the P&I Owner Occupier home loan on offer at 2.19% fixed for one, two and three year terms.

The second release applications will be operational with Teachers Mutual Bank Limited from 1 July. Eligibility criteria, property price thresholds and FAQ can be found on the NHFIC website.

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Amanda Resurreccion
PR & Corporate Affairs Specialist
(02) 9735 9179 / 0429 421 611
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