Media release

Westpac Group to offer the Australian Government’s Home Guarantee Scheme

The National Housing Finance and Investment Corporation (NHFIC) is pleased to announce that Westpac Group has been appointed to the panel of residential mortgage lenders offering the Australian Government’s Home Guarantee Scheme (HGS).

Westpac Group joins the Scheme’s major bank lender panel following a competitive procurement process run by NHFIC, giving home buyers even wider access to the HGS.

The Scheme is an Australian Government initiative to support eligible home buyers, including first home buyers, single parents and regional Australians, purchase their home sooner. It comprises the First Home Guarantee (FHBG), the Family Home Guarantee (FHG) and the Regional First Home Buyer Guarantee (RFHBG).  NHFIC administers the Scheme on behalf of the Government.

The Scheme is currently available to eligible home buyers through 2 major banks (Commonwealth Bank of Australia and National Australia Bank) and 30 non-major lenders. Westpac and its RAMS Home Loans brand will offer the Scheme from 1 July 2023, with Westpac’s remaining brands St George Bank, Bank of Melbourne and Bank SA following later in 2023.

The introduction of the RFHBG on 1 October 2022 increases the total number of HGS places to 50,000 this financial year.

More information on the Scheme is available on the NHFIC website here.