FHLDS New Home Guarantee
The National Housing Finance and Investment Corporation (NHFIC) has now released further details of the additional spots.
The additional 10,000 places form part of what is now being called the FHLDS New Home Guarantee (NHG) for new homes and newly built homes. The additional scheme allocations are available to first home buyers that are Australian citizens and at least 18 years old and wish to build a new dwelling or purchase a newly built dwelling with a deposit of between 5 and 20 per cent of the property’s value.
According to the NHFIC, eligible properties include:
- newly constructed dwellings (e.g. whether a freestanding house, townhouse or apartment)
- off-the-plan dwellings (e.g. whether a freestanding house, townhouse or apartment)
- house and land packages
- land and a separate contract to build a new home.
A revised set of property price caps also apply for eligible properties under the NHG
Please refer to the new Home Guarantee website here for further details and price caps per region eg. Victoria (capital city and regional centre) NHG Property price cap now $850,000; or NSW (capital city and regional centre) property price cap now $950,000 etc