First Home Buyers

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Types of First Home Loan Products

  Variable Loans

A variable rate move up or down based on how the RBA sets its cash rate. A Variable Rate is generally flexible.

  Fixed Loans

Fixed Interest rates offer stability and flexibility in your repayment schedule.

  Construction Loans

Building your own home? Buying a House and Land Package? The construction loan is likely for you.

  Split Loans

A split loan is part fixed and part variable. It offers the benefits of both loan types.

Download our First Home Buyer Guide for a better understanding of the process involved with purchasing your first property.

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First Home Buyer Considerations

Stamp duty is a tax charged by State and Territory governments on the purchase of property. The amount of duty charged will depend on the State government’s formula and the sale price. There are usually concessions for first-home buyers, ranging from discounts to extended payment periods. A good rule of thumb is to tuck away… [ Learn More ]

The First Home Loan Deposit Scheme, which started on 1 January 2020, will be targeted towards first home buyers earning up to $125,000 annually or $200,000 for couples. The value of homes that can be purchased under the Scheme will be determined on a regional basis, reflecting the different property markets across Australia. The First… [ Learn More ]

The First Home Owners Grant is a national scheme funded by the States and Territories and administered under their own legislation. The grants differ from State to State, and can take the form of a discounted or reduced property transfer fee, and maybe a one off tax-free payment to first home buyers in Australia, who… [ Learn More ]

Your home is likely to be your biggest ever purchase, so it’s well worth protecting with insurance. There are a number of factors that will affect the size of your home insurance premium, including location, the home’s age and building material, the rebuilding value and the size of the excess you choose. Your lender will… [ Learn More ]

Often lumped in together, these inspections provide very different information and are worth every cent. Don’t think you need one or the other. You need both, and each should be carried out by a suitably qualified and licensed expert. Often a building inspector is also qualified for pest inspections. A pest inspection costs about $300-400… [ Learn More ]

The Mortgage Registration Fee is a charge by the State or Territory land titles office to register the lender's mortgage on the property’s title record, and is paid by the borrower in full at the time a loan is transacted. Should you default on your loan to the limits of bank policy, the registration of… [ Learn More ]

Lenders will require you to take out this rather costly insurance cover if they are lending you more than 80 per cent of the value of the property (or you have a Loan to Value Ratio (LVR) of more than 80%). LMI is a double-edged sword. It permits entry into the property market for… [ Learn More ]

Your loan itself may come with additional costs, including application fees, set-up fees and a property valuation. Depending on the type of loan, there may also be monthly account fees. [ Learn More ]

You will need a solicitor or conveyancer to handle the legal transfer of the property title and make the necessary searches. Legal fees can vary widely. You are entitled to a quote up front, and should always ask for one. The more complex the transaction, the higher the fee. But don’t be tempted to cut… [ Learn More ]

First Home Buyer Frequently Asked Questions

We encourage you to call us for a better understanding of your financial position. Each client and product pairing presents vastly different options. A well informed understanding will assist with your research.

When you apply for a home loan, a lender will take a large number of factors into consideration when deciding whether or not to approve your application. The Serviceability assessment determines if you can comfortably "service" the loan repayments after considering all of your income, expenses and liabilities. Each lender has its own risk assessment… [ Learn More ]

Conveyancing is the legal process of preparing and organising the required documents involved in the transfer of property from one person to another. The conveyance of a property is undertaken by both those who are selling and those who are buying property, and is conducted by a conveyancer, solicitor, or the individual buying or selling… [ Learn More ]

A Guarantor Home Loan, or 'Family Pledge' Home Loan, allows family members or, in some cases, someone else who is close to you, to 'guarantee' your home loan. This means they will be responsible for servicing the loan if you can't. A guarantor will usually has to offer equity (such as a percentage of their… [ Learn More ]

Buying a new home is the foundation for future wealth, and expert guidance by one of our team will invariably save you thousands. Not unlike buying a car, there are a number of ‘on-road considerations’ that should be taking into account when determining affordability. [ Learn More ]

When purchasing land before a build you will generally have to pay a deposit of 10% of the purchase price, with the balance being payable on settlement – this way you pay stamp duty only on the land, rather than on the construction cost of the house. When building on your existing land you will… [ Learn More ]

Home loan products evolve, as do conditions and your own circumstances. We keep track of your borrowing and keep in touch regularly to assess your suitability for a new product or rate – we never want you paying more than you have to. After your income improves, and you have demonstrated your ability to pay… [ Learn More ]

A disability pension is a valid income source for the purpose of making a loan application with many banks. As with any loan application the amount of income from a disability pension, or from any other source, factors into the amount you can borrow and affects eventual the terms of the loan. These loans, however,… [ Learn More ]

This is a tough question to address without an understanding of your circumstances, For a first home a deposit of anywhere between 5% and 20% will be required, with the lower rate predicated upon Government assistance or grants. Generally speaking, a deposit of 20% of the value of the property will save you from incurring… [ Learn More ]

If you’re a first home buyer, you may be eligible to withdraw voluntary super contributions you’ve made to put toward a home deposit. Through the First Home Super Saver Scheme (FHSSS), first-home buyers may be able to use Australia’s superannuation system as a tax-effective way to save for part of their home deposit. The FHSSS… [ Learn More ]

Buying a new home is the foundation for future wealth, and expert guidance by one of our team will invariably save you thousands. Not unlike buying a car, there are a number of ‘on-road considerations’ that should be taking into account when determining affordability.

Selected Home Loan Products

Owner Occupied Variable
Interest*
2.09%
Comparison*
2.11%
   
1.98%
2.15%
   
2.29%
2.3%
   
2.29%
2.31%
   
Owner Occupied Fixed
Interest*
1.85%
Comparison*
2.47%
   
2.59%
2.76%
   
1.97%
2.81%
   
1.99%
2.83%
   
Owner Occupied Interest Only
Interest*
2.94%
Comparison*
2.63%
   
2.94%
2.63%
   
2.78%
2.66%
   
2.34%
2.88%
   
Investment Loans
Interest*
1.84%
Comparison*
1.9%
   
2.29%
2.31%
   
2.39%
2.4%
   
2.49%
2.5%