First-home guarantee lender panel set to increase in 2026

Housing Australia has launched a new Request for Proposal (RFP) to expand the number of lenders participating in the government’s key home ownership support initiatives, including the Home Guarantee Scheme and the Regional First Home Buyer Guarantee.

“This will increase choice and accessibility for home buyers across Australia as successful lenders are appointed to participate in each scheme,” said Housing Australia, which administers the scheme on behalf of the government.

These schemes allow eligible home buyers to purchase a property with a lower deposit and avoid paying Lenders Mortgage Insurance, as the government acts as the underwriter.

The current panel of Labor’s cornerstone housing initiative the First-Home Guarantee (aka the 5% deposit scheme) comprises lending majors Commonwealth Bank, NAB and Westpac, as well as a host of non-majors and challenger lenders, including:

• Bank Australia

• Bank of Us

• Bendigo Bank

• Beyond Bank

• Community First Bank

• Credit Union SA

• Gateway Bank

• Heritage Bank

• Hume Bank

• IMB Bank

• Newcastle Permanent Building Society

• People's Choice

• P&N Bank

• Police Bank

• Regional Australia Bank

• South West Credit Union

• Teachers Mutual Bank

• The Mutual Bank

• WAW Credit Union

ANZ, which previously opted out of the 5% deposit scheme, hinted that it could be weighing up participation in the scheme. It comes as demand for the initiative increases among first-home buyers following the recent expansion of the scheme.

Under the extension, which came into force in October, removed income caps and annual quotas, while house price thresholds were substantially lifted.

“ANZ is committed to helping Australians achieve homeownership through flexible and tailored solutions,” an ANZ spokesperson told MPA in October. “We look forward to assessing participation in the new phase of the government’s Home Guarantee Scheme.”

A decision to appoint new lenders to the panels is expected in early January, with newly appointed lenders to begin offering the schemes from March 2026.