First Home Buyers, have just received a great piece of news – the First Home Loan Deposit Scheme (FHLDS) has had more places added and a number of reserved spots that were not acted on in 2020 will be freed up so that they can be claimed again.
Recent Australian Bureau of Statistics (ABS) data has shown the many state and federal housing initiatives over recent months are accomplishing their goal, with first home buyers continuing to enter the market at the highest level since 2009 and the number of owner-occupier first home buyer loan commitments rising 9.3% — an increase of 56.6% from the same time last year.
As of this writing, there are 1,800 spots made available from previous applicants who have not acted on their spot, there are about 5,800 spots left from the 10,000 made available until 30, June 2021.
Here’s The Tricky Part
The hardest part of getting a spot is actually finding a lender that has a space left that they can use on you. Each lender has a hard cap on the number of spaces they can offer up. So for example, a major bank might have used up all of their FHLDS spots but there are plenty of tier two lenders who have spaces left that you could access.
Obviously, applying bank by bank or lender by lenders is a lot of hard work and something that you can easily avoid by working with a mortgage broker. Mortgage World Australia has helped relatives, friends and family of our existing clients find lenders who offer great loans through lenders who still have spots available for the First Home Loan Deposit Scheme (FHLDS).
If you qualify (or someone you know qualifies) for the FHLDS call 1300 661 211 or register online at https://www.mortgageworldaustralia.com.au/contact-us/ and we will explore how you can make your dream of owning a home a reality.
Patrick is a Director and a Home Loan Specialist. He has been helping Australians with home loans since 2001. Prior to working as a mortgage broker Patrick was employed by Macquarie Bank for 3 years and also worked as an accountant for a publicly listed company. Patrick holds a Bachelor of Business majoring in Accounting and sub-majoring in Finance and Marketing from University of Technology, Sydney.