The National Housing Finance and Investment Corporation (NHFIC) today commenced a request for proposal (RFP) process to add a limited number of new lenders to its non-major lender panel for the First Home Loan Deposit Scheme (FHLDS) and Family Home Guarantee (FHG) from 1 July 2022. FHLDS and FHG are Australian Government initiatives to support eligible home buyers to become homeowners sooner.
NHFIC administers three schemes on behalf of the Government: First Home Loan Deposit Scheme (FHLDS), New Home Guarantee (NHG)*, and Family Home Guarantee (FHG). These three schemes are currently available to eligible Australian first home buyers and single parents. They are currently offered through a lender panel comprising 2 major lenders and 25 non-major lenders.
NHFIC is seeking to expand its lender panel to complement and strengthen the existing panel, improve the reach and accessibility of the schemes, and support more eligible customers to achieve their home ownership goals.
The RFP process will consider how any new lenders would help NHFIC achieve the policy objectives and strategic opportunities for the schemes, assessing against a range of evaluation criteria consistent with the Investment Mandate.
Since the launch of the schemes, the combined three schemes have experienced strong demand and successfully helped more than 50,000 Australians buy or build a home, with a significant proportion being women and key workers as at 31 December 2021.
NHFIC invites eligible non-major residential mortgage lenders to respond to a Request for Proposal to join the lender panel. More information on the RFP process and eligibility requirements are available on the NHFIC website.
*At present the NHG is expected to cease on 30 June 2022, while this process focuses on the lender panel from 1 July 2022.