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On The Record

Commonwealth Bank welcomes extension of the First Home Loan Deposit Scheme

Commonwealth Bank welcomes extension of the First Home Loan Deposit Scheme

The extension of the First Home Loan Deposit Scheme by the Federal Government has been welcomed by the Commonwealth Bank, which has helped more than 3,000 Australians to buy their first home through the scheme following its launch at the start of this year.

In a statement released today (Saturday, 3 October 2020), Angus Sullivan, CBA’s Group Executive, Retail Banking Services, said: “We applaud the extension of the First Home Loan Deposit Scheme. Feedback from our customers who have benefitted from this scheme has been extremely positive.

“The scheme has played a constructive role in helping first time buyers get onto the property ladder, as well as providing much needed support to the broader economy during the coronavirus pandemic. We are delighted to have been a major participant in the first stages of the scheme, which has helped more than 3,000 CBA customers buy and move into their first home.

“The expansion of the scheme that Government has announced today will help even more Australians looking to buy their first home. The focus on new build, in particular, will provide timely support for employment in the construction industry, as the country starts to move into a recovery phase. CBA is proud to support our customers and the wider community in this way and we look forward to helping even more first home buyers enter the market in coming months through initiatives such as these.”