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The initial group of accredited brokers has completed training to offer eligible customers access to the shared equity scheme, which is designed to help Australians bridge the gap to home ownership.
The mutual banking group joined the federal government’s shared equity home-buying scheme back in July 2026, which officially launched in December with just two lenders: the Commonwealth Bank of Australia and Bank Australia.
Under Help to Buy, the federal government contributes up to 30 per cent of the purchase price of an existing home or 40 per cent of a newly built home, with eligible buyers required to have saved a minimum 2 per cent deposit.
Phased rollout
Teachers Mutual Bank Limited chief customer officer Greg Johnson said the scheme’s requirements differed from those of a traditional home loan, making broker training an important part of the rollout.
“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,” he said.
The bank has trained a pilot group of brokers as part of the first phase, with a second cohort expected to be onboarded by the end of October.
Broker access will then be expanded more broadly throughout 2027.
Johnson said the phased approach would allow the bank to test its systems and ensure brokers were equipped to support customers through the application process.
“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 said.
Help to Buy access
The Help to Buy Scheme has 10,000 places available each year across all participating lenders and is open to eligible Australians seeking to enter the property market, including first home buyers and those returning to home ownership.
Teachers Mutual Bank Limited joined the scheme as a participating lender on 27 July 2026.
The bank is offering access to eligible members taking out home loans through its Teachers Mutual Bank, Health Professionals Bank, UniBank and Firefighters Mutual Bank retail brands.
[Related: Brokers drive half of Bank Australia’s Help to Buy applications]
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