Bendigo Bank helps thousands of first-home buyers across Victoria

Thousands of house-hunters have moved into property ownership sooner thanks to a Victorian Government scheme and Bendigo Bank.

With 5,000 settlements now completed under the Victorian Homebuyer Fund, Bendigo Bank is proud to have helped thousands of customers enter the housing market for the first time.

Bendigo Bank has partnered with the Victorian Government on the scheme which allows those with a 5% deposit to purchase a home, with the government providing a shared equity contribution of up to 25% for most borrowers.

“Housing affordability is a major challenge, especially for our young people,” Chief Customer Officer of Consumer Banking, Taso Corolis said.

“The Victorian Homebuyer Fund is addressing this by helping a significant number of aspiring homeowners buy their first home sooner,” he said.

“We’re proud to reach this important milestone of 5,000 settlements under the scheme, putting home ownership in reach for more than 7,600 customers, thousands of whom are purchasing with a co-applicant.”

Mr Corolis said Bendigo Bank has been pleased to partner with the Victorian Government.

“Bendigo Bank thanks the Victorian Government for this opportunity to help Victorian singles and families realise their dream of home ownership sooner.”

Bendigo Bank Victorian Homebuyer Fund partnership - key figures:

• 5,000 settlements since October 2021
• 7,681 customers
• Average customer age for a single application: 35.7
• Average customer age for couple: 37.6 & 36.2
• Average customer salary for a single application: $72,852
• Average customer salary for a couple application: $71,501 & $69,100
• Top six suburbs: Croydon, Frankston, Pakenham, Point Cook, Reservoir, Werribee.