COBA welcomes introduction of legislation to implement First Home Loan Deposit Scheme


The Customer Owned Banking Association welcomes the introduction of legislation into Parliament today that will implement the First Home Loan Deposit Scheme (FHLDS).

The FHLDS was announced by the Government during the Federal Election campaign with the aim of assisting first home buyers.

COBA CEO Michael Lawrence says the legislation is welcome news and the customer owned banking sector is ready and willing to take part.

“Australia’s customer owned banking institutions are excited to work with Government to help more Australians enter the property market.

“Customer owned banking institutions have a long tradition of helping first homeowners enter the property market.

“They have a more than 150-year legacy of making the home ownership dream a reality for many Australians.

“There are many customer owned banking institutions that are eager to be a part of this scheme after the Government said it would prioritise smaller lenders to help boost competition.

“Introducing this legislation is a welcome step from Government to help more young Australians towards home ownership.”

A PDF of this media release can be downloaded here