Help to Buy broker access grows as fourth lender joins

The appointment coincides with Teachers Mutual’s first trained broker cohort gaining access, with the developments broadening access to a program that previously had a limited broker presence.

In July, before Teachers Mutual joined the panel, Bank Australia was the only participating lender distributing Help to Buy through brokers.

Queensland Country adds another pathway

Queensland Country Bank chief executive Aaron Newman positioned the appointment as a way to address the savings hurdle facing prospective buyers while keeping longer-term financial outcomes in view.

“Housing affordability continues to be a real challenge. This initiative reduces the upfront deposit barrier, supporting eligible Members to enter the market sooner - while maintaining a strong focus on long-term affordability and financial wellbeing,” he said.

The bank brings experience in government-supported lending, reporting that it had funded nearly $200 million in new loans to members accessing initiatives including the federal government’s 5% Deposit Scheme.

Newman said the decision to participate aligned with the mutual’s broader purpose and its focus on helping members become homeowners.

“Helping people own their homes is core to who we are as a member-owned bank,” Newman said.

“We stand ready to support our Members, in every way we can. Being selected as a lender to help deliver Help to Buy, we will be able to help more Queenslanders realise their home ownership goals sooner”.

Teachers Mutual phases broker access

Teachers Mutual group became a participating lender on 27 July 2026, initially offering direct access through Teachers Mutual Bank, Health Professionals Bank, UniBank and Firefighters Mutual Bank.

While its first broker cohort has now completed the training required to offer the scheme, broker distribution will be a gradual process, with another trained cohort due to come on board by the end of October and wider access planned throughout 2027.

Chief customer officer Greg Johnson said the training reflected differences between shared-equity lending and conventional mortgages.

“The Scheme’s eligibility requirements, application process and ongoing conditions are different from a traditional home loan and we’re focused on making sure our accredited brokers have the right training before working with their customers to submit applications for the Scheme,” Johnson said.

Johnson said the measured rollout was intended to prepare brokers and test the bank’s systems before participation widened.

“We want the experience for our brokers and members to be seamless and providing training and testing our systems through a phased rollout is essential in delivering a great experience for everyone,” he outlined.

Wider reach as demand builds

Administered by Housing Australia, Help to Buy allows eligible purchasers to buy with a minimum 2 per cent deposit and without lenders mortgage insurance (LMI).

The government can contribute up to 40 per cent of the price of a new home or 30 per cent for an existing dwelling.

The scheme offers 10,000 places annually across participating lenders and accommodates both first home buyers and eligible former owners returning to the market.

Single applicants can earn up to $103,000 in taxable income, while joint applicants and single parents have a $165,000 ceiling, up from $100,000 and $160,000 respectively.

Housing Australia’s July update reported more than 7,200 applications, with around 4,800 having settled or found a property and the remainder still searching.

First home buyers represented 86 per cent of participants, while almost 70 per cent of applications came from single applicants, with single parents accounting for 12 per cent.

The agency also identified older single women as a growing cohort: 42 per cent of female participants were aged at least 40.

The median deposit was $30,000, while demand was strongest in Victoria, followed by NSW and Queensland with the program aiming to support 40,000 households over the next three years.

[Related: Help to Buy demand set to outstrip annual places]