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The First Home Loan Deposit Scheme

On January 1st 2020, the government rolled out their First Home Loan Deposit Scheme (FHLDS). This scheme is designed to help millennials buy a home sooner by removing the extra cost of Lender’s Mortgage Insurance (LMI).

Ten thousand borrowers will be eligible for the scheme this financial year with 3,000 spaces having already been taken. Another 10,000 spaces will become available from July 2020.

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