What is the FHLDS Scheme? Usually first home buyers are required to have saved up a 20% deposit or take out lenders mortgage insurance (LMI). The FHLDS scheme is a new scheme guaranteeing 10,000 low deposit home loans with the borrowers only requiring as little as a 5% deposit and without paying lenders mortgage insurance. This could save first home buyers $10,000- to $40,000 depending on deposit size, loan amounts etc. Are there any spots left? When the First Home Loan Deposit Scheme (FHLDS) released 10,000 spots – 5,000 were released to the NAB and CBA. These 5,000 spots filled up almost immediately. The remaining 5,000 spaces were released to 25 ‘non-major lenders.’ Whilst the NAB and CBA no longer have any available spots, there are still spots available with these 25 non-major lenders. Same opportunity, better rates and packages are on offer… in fact there is no negative except the name of the lender. What are the Conditions? The… Read More