Customers looking to build or purchase a new home can now apply for the Government’s First Home Loan Deposit Scheme (New Homes) with CommBank.

Announced in October, an additional 10,000 customers can now apply for a loan to purchase an eligible newly built property with a deposit of between 5 and 20 per cent under the extension to the First Home Loan Deposit Scheme.

Commonwealth Bank Group Executive Angus Sullivan said: “As one of only two major lenders to participate in the Scheme, we are proud to have helped over 3,000 Australians purchase a home sooner than they otherwise would have.

“We are excited that even more first homebuyers can now realise their property ownership goals with CommBank including taking advantage of our lowest ever advertised fixed rates.”

Under FHLDS (New Homes), a revised set of property price caps will apply for eligible properties. For more information, customers should visit our First Home Loan Deposit Scheme website.

Customer’s interested in applying for the Scheme should speak with a CommBank Lender in branch or by calling 13 2224, by visiting the CommBank website or via their Broker.

Customers who have previously requested to join CBA’s waitlist will hear from their Lender or Broker over the coming days with an update on their place.