Commonwealth Bank welcomes the announcement of the Government’s HomeBuilder program which will help boost the economy, support home builders and renovators, and get more Australians into their new home faster.

Angus Sullivan, Group Executive at Commonwealth Bank said: “We were the first bank to provide home loan repayment deferrals at the beginning of the COVID-19 crisis and will work with our customers to access the Government's $25,000 HomeBuilder grants to support the economic recovery as Australians return to work and the economy begins to recover.

“We’re proud that one in four Australian home loans are with CommBank and with some of the lowest rates on record, now is an ideal time to consider building or renovating your home.

“We were one of only two major lenders to participate in the Government’s First Home Loan Deposit Scheme (FHLDS) and have helped over 2,000 customers purchase a home under the Scheme since 1 January 2020.

“Our support for initiatives like the FHLDS and the new Homebuilder program is helping our customers to save thousands of dollars and get into their new home sooner.”

Our Australian-based call centres and processing remain open for business and we encourage customers who are looking to build a new house or renovate their current property to call us to see what options are available to them including refinancing their home loan with us.

More information about the new program will be made available for customers over the coming weeks.