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Australians can now apply for the next round of places with Commonwealth Bank under the Government’s First Home Loan Deposit Scheme (the Scheme).

The Scheme, which launched on 1 January 2020, helps eligible first homebuyers purchase a home with a deposit of as little as 5 per cent.  

Commonwealth Bank Group Executive Angus Sullivan said: “We help more Australians into their first home than any other lender and since the beginning of the year we’ve helped more than 2,500 customers purchase their first home under the Scheme which is more than any other bank. 

“Across the business recently, we’ve seen a great deal of interest from first homebuyers and renovators in new loans and top-ups which correlates with the resilience we are seeing in the broader housing market.

“We expect demand for places to be similar to when the Scheme first launched and it’s exciting that with more places now available we can help even more Australians into their first home sooner.”

As one of only two major lenders to participate in the Scheme, we encourage first homebuyers to contact us to discuss how the Scheme and State/Territory First Home Owner grants can be used in conjunction with each other.

“Our Australian-based call centres and processing remain open for business and with some of the lowest fixed rates on record we’re proud that one in four Australian home loans are with CommBank,” commented Angus Sullivan.

Customers can apply for the next round of First Home Loan Deposit Scheme places from 1 July 2020 via a CommBank Lender in branch or by calling 13 2224, by visiting the CommBank website or via their Broker.

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