Tuesday, 07 June 2022

IMB Bank announced today that it will play an enhanced role in helping first home buyers make their first steps into the property market sooner, after being appointed to the lending panel for the Australian Government’s Home Guarantee Scheme (currently known as the First Home Loan Deposit Scheme).

The National Housing Finance and Investment Corporation (NHFIC) confirmed today that IMB Bank would be one of 5 new lenders that can offer the Scheme. The Scheme includes the First Home Guarantee, which supports eligible first home buyers to purchase a home with a minimum 5 per cent deposit, and not pay Lender’s Mortgage Insurance.

IMB Chief Executive, Robert Ryan said that IMB is delighted to have been chosen by NHFIC to help more Australians realise their dream of buying a home sooner.

“IMB has been helping people achieve their home ownership goals for over 140 years, providing competitive and responsible lending to our customers. Home ownership remains a bedrock of IMB’s mission, as a leading mutual bank it is a core value for us,” said Mr Ryan.

“Our highly competitive rates and products, digital mortgage innovation and proven history of helping first home buyers enter the property market are key components of our offering to borrowers under the Scheme,” Mr Ryan said.

Mr Ryan said that IMB Bank would offer loans under the Scheme from 01 July 2022.