Friday, 30 September 2022
IMB Bank announced today that it will help regional Australians buy their first home sooner as part of the Australian Government’s Home Guarantee Scheme newest initiative, the Regional First Home Buyer Guarantee, which is administered by the National Housing Finance and Investment Corporation (NHFIC).
As one of the lenders that offers the Home Guarantee Scheme (HGS), IMB Bank is pleased to add the Regional First Home Buyer Guarantee (RFHBG) to the First Home Guarantee and the Family Home Guarantee currently available. Eligible buyers who are living in regional Australia will be able to purchase a home in their regional area or an adjacent regional area with a minimum 5 per cent deposit, and not pay Lenders Mortgage Insurance.
IMB Chief Executive, Robert Ryan said that the assistance for regional first home buyers is most welcome.
“As one of Australia’s leading mutual banks, IMB has been helping people achieve home ownership since 1880. This extension to the initiative from the Australian Government will provide genuine opportunities to first home buyers living outside the capital cities,” said Mr Ryan.
“We have a proven history of helping Australians buy their first home, and Canstar recently found IMB to have the Most Satisfied Customers in Australia – for any bank*. Our very competitive rates and products, award-winning service and digital innovation are key pieces of our offer to first home buyers,” Mr Ryan continued. “With the support of this initiative, we look forward to helping more people achieve their home ownership goals.”
IMB Bank will offer loans under the Regional First Home Buyer Guarantee from 01 October 2022.