With a range of different government grants to access, there’s never been a better time to be a first home buyer.
Many Australians are not privy to the range of different grants and schemes which they may be eligible for, and the support of a reliable mortgage broker can help guide you through these options.
Get a Better Rate was founded in 2016 by Principal Mortgage Broker Peter Hammond to empower Australians to achieve the home of their dreams through expert advice.
“There’s never been more government support for first home buyers,” Peter explained.
“You’ve got three different government schemes, including the First Home Buyers Assistance scheme which offers full or reduced NSW stamp duty concession, available for purchases up to $1 million.
“You’ve also got the First Home Guarantee (FHBG) where they’re effectively covering the lender’s mortgage insurance for first homeowners, and you have the First Home Owner Grant (FHOG) for new builds.”
For many first home buyers, the biggest challenge getting into the market is saving up a deposit.
“For most people, you’ve got to pay stamp duty, and if you don’t have a large enough deposit, you have to pay lender’s mortgage insurance (LMI), so having these costs either reduced or waived is a massive saving for a first home buyer,” Peter stated.
“It means with as little as a five per cent deposit, you can get into a new home, which is something we haven’t seen before, and it makes it so much easier for first home buyers.”
On top of government assistance, Get a Better Rate provides clients with the best mortgage rates available on the Australian market, granting access to over 40 prominent Australian lenders.
“With the government’s First Home Guarantee (FHBG), there are limited lenders able to participate in the scheme, and a mortgage broker allows people to be able to consider and compare multiple options without having to do the leg work themselves,” Peter said.
Buying a house is something that most people only do a handful of times in their life, and even experienced homeowners can forget some of the intricacies involved in the process.
“That’s another area where mortgage brokers can help navigate the different steps and the different things you need to be mindful of,” Peter said.
“That’s what we’ve built our model around – it’s customer-focused to ensure that we’re there to help support people through the journey, which at times can be quite stressful.
“We’re there to lift some of that burden and help people feel comfortable through the process.”
If you’re looking for guidance in the purchase of your first home or next home, you need an experienced Sydney Mortgage Broker. Call them on 1300 029 053 for an obligation free discussion.
Weekender Newsroom
This post has been published by the team in our newsroom.