About this episode

The episode discusses the realities of buying a home in Australia with a 5% deposit and the impact of government-backed schemes on first home buyers.

For many Australians trying to enter the property market, the promise of buying a home with just a 5% deposit sounds like a breakthrough. Government-backed schemes designed to support first home buyers have made headlines, but how much do they actually help buyers in practice? And what happens when thousands of buyers suddenly gain access to the same opportunity? In this episode, Veronica and Chris sit down with mortgage broker and National First Home Buyer Specialist Jack Elliott to unpack how first home buyer schemes actually work from the lending side. They explore the mechanics behind borrowing capacity, the role banks play in approving these loans, and the reality buyers face when trying to secure property in an increasingly competitive entry-level market. The conversation also dives into the unintended consequences of these policies. While schemes like the First Home Guarantee can lower the barrier to entry, they can also increase competition in the very markets first home buyers are targeting. As more buyers gain access to financing, the question becomes whether these policies truly improve affordability—or simply shift the dynamics of demand. If you're considering buying…

People in this episode

Hosts: Chris Bates, Veronica

Guest: Jack Elliott

Topics covered

• first home buyers
• property market
• government schemes
• borrowing capacity
• affordability
• lending

Keywords

• 5% deposit
• first home buyers
• mortgage broker
• lending
• property market
• government incentives
• affordability

Mentioned in this episode

Organizations: First Home Guarantee

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