The Federal Government’s First Home Loan Deposit Scheme has had an incredibly successful first year.

From today, an additional 10,000 loan guarantees are available for first home buyers over the next 12 months.

Federal Member for Page Kevin Hogan said this is cutting years off the time it takes for Australians to save for a deposit.

“We are doing all we can to help Australians to get into a home of their own sooner,” Mr Hogan said.

“The Scheme has so far provided 10,000 guarantees, allowing people to purchase a home with a deposit of as little as five per cent.”

 “This can also be used in conjunction with the First Home Super Saver Scheme and HomeBuilder, and first home buyers may also be eligible for state grants and concessions.”

“The Scheme has proven popular with first home buyers under 30 years of age who secured 59 per cent of guarantees.”

For more information and eligibility criteria visit NHFIC’s First Home Loan Deposit Scheme website: www.nhfic.gov.au/what-we-do/fhlds