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The Albanese Labor Government will make it easier to buy a home and bring ownership into reach for more Australians.

From 1 July 2022, five additional lenders will join the ³Ô¹ÏÍøÕ¾ Guarantee Scheme as participating lenders to offer the Scheme to eligible homebuyers.

The new lenders on the non-major bank lender panel are Credit Union SA, Illawarra Credit Union, IMB Ltd (trading as IMB Bank), Newcastle Permanent Building Society and Unity Bank Limited.

The ³Ô¹ÏÍøÕ¾ Guarantee Scheme will be expanded to 50,000 places per year to support more aspiring first homebuyers to purchase a home.

This will come to include the new Regional First ³Ô¹ÏÍøÕ¾ Support Scheme, delivering on a commitment the Albanese Labor Government made before the election.

An expanded lender panel will promote further competition amongst participating lenders and greater consumer choice.

These lenders were appointed following a competitive procurement process facilitated by the ³Ô¹ÏÍøÕ¾ Housing Finance and Investment Corporation (NHFIC).

They join an existing panel of 25 non-major and 2 major bank lenders. NHFIC administers the ³Ô¹ÏÍøÕ¾ Guarantee Scheme.

Information on how to apply, eligibility requirements and the full list of participating lenders is available on the . Applications can only be made through participating lenders.

The Albanese Labor Government is committed to introducing a suite of policies that will make it easier for Australians to buy a home, and deliver more social and affordable housing.

This includes:

• The $10 billion Housing Australia Future Fund which will build 30,000 social and affordable housing properties in its first five years;
• Help to Buy, a new program to make it cheaper and easier for Australians to own their own home;
• Establishing a ³Ô¹ÏÍøÕ¾ Housing Supply and Affordability Council; and
• Developing a new ³Ô¹ÏÍøÕ¾ Housing and ³Ô¹ÏÍøÕ¾lessness Plan.