Commencement of procurement process for lenders
NHFIC has commenced a procurement process to establish an initial panel of lenders to participate in the Australian Government’s new First Home Loan Deposit Scheme, due to commence on 1 January 2020.
NHFIC is inviting residential mortgage lenders to respond to a Request for Proposal (RFP), against which respondents will be assessed for participation in the Scheme.
The four major banks and any entity that is a related body corporate of theirs have until 11.59pm AEDST on Wednesday 6 November 2019 to respond. Responses for all other non-major bank lenders close at 11.59pm AEDST on Friday 15 November.
Respondents will be evaluated for participation in the Scheme against a range of criteria, which have been informed by consultations undertaken to date with a broad range of financial institutions, brokers and peak bodies. Consistent with the draft Investment Mandate in relation to the Scheme, these criteria include, but are not limited to, aspects of customer care, the competitiveness of loan products and regional reach.
NHFIC intends to periodically provide opportunities for lenders to apply to join the panel.
The RFP documentation is available for download below:
Responses to the RFP will only be accepted from credit providers that engage in residential mortgage lending activities.
Responses must be submitted electronically in writing to firstname.lastname@example.org by the closing time.
Any questions regarding the RFP can also be sent to this address. All answers provided to questions will be published below in a de-identified manner. Respondents should regularly check this website for any updates or addenda to the RFP.
Answers to RFP questions
Clarifications in relation to the RFP will be published here on a non-attributable basis.
|Can Respondents make changes to the Respondent's Deed?
It is a mandatory requirement for Respondents to include a completed and signed Respondent's Deed with their Submission (paragraph 9.3.1). An addendum to the RFP, including a revised Respondent's Deed, has been uploaded to the NHFIC website. The deed has been amended to: