- First home owner demand is high, with Wagga in the top ten suburbs in NSW.
- First Home Loan Deposit Scheme (FHLDS) attractive for Defence Bank members.
- FHLDS is helping Defence Bank customers buy their first home much sooner than anticipated.
- FHLDS extended to 30 June 2021 with another 10,000 grants available to first home buyers building a new home, or buying a newly built home.
A Wagga couple has become the latest to secure home ownership sooner through the Australian Government’s popular First Home Loan Deposit Scheme (FHLDS) which can help Australians to secure a home with as little as a 5 per cent deposit and no lenders mortgage insurance*.
The Scheme is extremely popular, with Wagga in the top ten suburbs in NSW to access it.
Defence Bank worked with Feliesha Frost and Trent Conroy to secure their home in Wagga, in the NSW Riverina region.
The couple secured a single story 4-bedroom home, with two bathrooms, two living areas and a double garage.
“We’d been saving for around four years and watched what we spent and were a bit tight for a while, but it would have taken another two years to save without being able to use the first home loan scheme,” Feliesha said.
“We see the house as a stepping stone, a great family home and want to keep it for 10-15 years and then buy a second home.
“Defence Bank definitely kept us in the loop every step of the way. The bank was very accommodating, and I couldn’t sing Tanya's praises enough, we couldn’t have achieved buying this home without her.”
Feliesha and Trent both work in defence, and communication was challenging but critical to their success in buying their first home.
“Trent was in isolation on Kapooka base, so we communicated a lot by email, and it was handy having Defence Bank there with me and on the base.”
Defence Bank was selected for the Scheme's panel of lenders after satisfying criteria including home loan competitiveness, geographic reach and readiness to meet Scheme implementation timelines.
*Only New Home Guarantee places available. Eligibility and lending criteria apply.
Important note: This information is of a general nature and is not intended to be relied on by you as advice in any particular matter. You should contact us at Defence Bank to discuss how this information may apply to your circumstances.