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Bendigo Bank hits significant milestone in Victorian Homebuyer Fund

21 February 2023 |Announcements

Thousands of Victorians are now living their home ownership dream, thanks to Bendigo Bank and the Victorian Homebuyer Fund (VHF).

The Bank has now settled over 2,000 loans out of the 10,000 being made available under the Victorian Government’s shared equity scheme.

Launched in October 2021, the Victorian Homebuyer Fund makes it easier for Victorians to get into their own home sooner. The scheme is open to borrowers with a deposit of just 5% with the Victorian Government contributing up to 25% of the purchase price in exchange for a corresponding share in the property.

In good news for aspiring Victorian homebuyers, the entire State of Victoria now has access to the Homebuyer Fund, meaning singles, couples and families living across the state can now realise their dream of homeownership.

Bendigo Bank Chief Customer Officer for Consumer Banking, Richard Fennell urged anyone looking for a home in one of Victoria’s fantastic regions to consider the State Government’s incentive program while places remain.

“For some, the path to home ownership can be difficult to navigate. For these customers, the Victorian Homebuyer Fund is like being supplied with a clearly marked roadmap” Mr Fennell said.

There’s never been a better time for eligible buyers to find their dream home and let Bendigo Bank help them with the rest.

“Bendigo Bank continues to help thousands of first homeowners into their new homes across various government programs, and we’re aiming to help thousands more into the future.” Mr Fennell concluded.

Carnegie resident Vicki felt that being a millennial meant buying a home would never happen for her.

“In the current climate, it's difficult to break into the housing market for young people especially on a single income,” Vicki said.

After saving 40% of her income every pay, yet still years off owning a home, Vicki was losing hope. After hearing about the VHF, Vicki’s hope was reignited.

“When I learned about the VHF, that was my ticket in. It's a great initiative and it's what made buying possible for me.” Vicki said.

Hot spots for property purchases under the Victorian Homebuyer Fund include Tarneit and Pakenham, with regional centres not far behind in Greater Geelong, Gippsland, Mildura, Ballarat, and the Bank’s home, Greater Bendigo.

For more information on eligibility, please visit: Victorian Homebuyer Fund

To apply through Bendigo and Adelaide Bank, please visit: Bendigo and Adelaide Bank Homeowner Funds

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