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First Home Loan Deposit Scheme (New Homes)

Supporting first home buyers looking to build or purchase a new home. 

About FHLDS (New Homes)

In the 2020-21 Federal Budget, the Australian Government announced an additional 10,000 FHLDS places for the 2020-21 financial year, specifically for eligible first home buyers building or purchasing new homes. These additional places are known as the First Home Loan Deposit Scheme (New Homes) or FHLDS (New Homes).

Under the FHLDS (New Homes), first home buyers can build or purchase a new home, including:

  • newly-constructed dwellings
  • off-the-plan dwellings
  • house and land package
  • land and a separate contract to build a new home

There are particular requirements and timeframes which apply for each type of property.

If you are unable to meet the timeframes or requirements for eligible properties under the FHLDS (New Homes), you may be able to apply to build or purchase a new home under the existing First Home Loan Deposit Scheme.

Illustration of a young couple standing on a street in front of their new home with SOLD sign.

Am I eligible?

  • You need to be an Australian citizen, at least 18 years old, with a Medicare card, and a first home buyer looking to buy a property that you will live in.
  • You need to be able to demonstrate your ability to save over time, with a minimum 5% deposit saved for the property you wish to buy.
  • You must meet the income eligibility requirements, which are single buyers earning up to $125,000, or a couple earning up to $200,000 per year. 
  • There are property price thresholds that will apply in capital cities, large regional centres and regional areas. Use NHFIC's property price threshold tool to work out the maximum property purchase price in the area you're interested in under the Scheme.

The application process

Check your eligibility

Check your eligibility for the Scheme using NHFIC's online tool for singles and couples

Make an appointment

Enquire online and a Bendigo team member will be in contact shortly to assist you with your application

Buy your home

Purchase a property that meets the conditions of your Scheme Approval.

Move in

Move into your new home! Check out our tips to assist you with your move. 

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Terms and conditions, fees, charges, eligibility and lending criteria apply. Full details available on application. All information is correct as at 12 November 2020 and is subject to change without notice. 

Bendigo and Adelaide Bank Limited, ABN 11 068 049 178 AFSL / Australian Credit Licence 237879. Any advice provided on this website is of a general nature only and does not take into account your personal needs, objectives and financial circumstances. You should consider whether it is appropriate for your situation. Please read the applicable Disclosure Documents before acquiring any product described on this website. Please also review our Financial Services Guide (FSG) before accessing information on this website. Information on this page can change without notice to you.

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