Getting on the property ladder.

At Menzies Financial Group, we help you save you time and money when shopping around for a home loan. With access to over 50 leading banks and non-bank lenders, we compare hundreds of loans to find one that suits your needs.

We can also help first home buyers borrow up to 99.9% of a property value including lenders mortgage insurance (LMI).

This is ideal for those who have limited funds available for the deposit and costs associated with buying a property such as stamp duty and legal fees.

For information about Home Loans or the First Home Owner Grant, from what it is, to the eligibility criteria, what the differences are in each state, how much you could receive, and when the grant gets paid, continue scrolling or contact our team today.

Understanding your financials

We encourage First Home Buyers to develop positive saving habits before looking to purchase a home. As a homeowner, you will need to be comfortable paying your mortgage at the same time as other expenses.

Getting a firm grip on your finances is important to ensure that you are ready for such a big financial reprioritisation.

Before you start attending open houses and looking for a home, you will need to understand what your price limit is and how much you can afford. 

Speak to a broker

First Home Owners Grant

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You might be able to apply for the First Home Owner Grant, which helps Australians to get the funds they need to buy, or build their first home.

For more information about the First Home Owner Grant, from what it is, to the eligibility criteria, what the differences are in each state, how much you could receive, and when the grant gets paid, we have included helpful links below.

If you would like more information on how an Menzies Financial Group broker can help you, contact us today!

If you’re a first home buyer and you’re buying or building a new home, you may qualify for a $10,000 grant under the NSW First Home Owner Grant (New Homes) scheme if you purchase date was on or after 1 January 2016.

You can make a claim for the First Home Owner Grant if your:

  • newly constructed home or a substantially renovated home has a total value less than $600,000
  • land for building and any dwelling you intend to build has a combined value less than $750,000.

To receive the grant when you buy your home:

  • you must be an individual, not a company or trust
  • you must be over 18
  • you, or at least one person you’re buying with, must be an Australian citizen or permanent resident
  • your purchase date must be on or after 1 January 2016.

Generally, you won’t be eligible for the First Home Owner Grant if you or your spouse:

  • have previously owned or co-owned a home in Australia or
  • have received an Australian first home owner grant.

You may still be eligible if you purchased a residential property after 1 July 2000 and didn’t live in it for more than six continuous months.

You or one of the other first home buyers who purchase with must move into the new home within 12 months after buying the property, and live there for at least six continuous months.

If you’re buying land and building a new home, you must move in within 12 months after construction is complete.

If you’re a member of the Australian Defence Force you may be exempt from the six-month residence requirement, provided all buyers are on the New South Wales electoral roll.

What’s considered a ‘new home’?

If you’re buying an existing home, you can apply for the grant if:

  • this is the first time the house has been sold and
  • the house has never been lived in before you move in, including by the builder or a tenant.

Recently renovated homes

Your home is also considered new if it has been substantially renovated before you buy it. You might be eligible for the grant if:

  • most or all of the house was removed or replaced
  • this is the first time the home has been sold after those renovations
  • it hasn’t been lived in since being renovated, including by the builder or a tenant.

Contact Us

Our team will help you search, choose and settle your loan. Chat to one of our loan specialists at a time that suits you.

General Enquiries
(02) 99072257

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