In this final episode for 2025, Jack Elliott and Chris Bates reflect on the biggest lessons and insights from working with first home buyers over the past year.

We talk through what changed in the first home buyer landscape in 2025, including the expansion of the First Home Guarantee (now the 5% Deposit Scheme), and what those changes meant in real life for buyers navigating their first purchase. We also share the common questions buyers asked this year and the decisions that made the biggest difference.

Most importantly, this episode is about helping you carry the right lessons into 2026.

In this episode:

🔑 What changed for first home buyers in 2025

🔑 The biggest lessons we saw from buyers this year

🔑 The most common questions first home buyers asked in 2025

🔑 What we’re seeing ahead as we look toward 2026

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Street Secrets Podcast

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The Federal Government’s new Help to Buy shared equity scheme has officially opened, and for some first home buyers it could help bridge the gap between borrowing capacity and the cost of a quality home. But shared equity also comes with rules, restrictions, and long-term trade-offs that need to be understood upfront.

In this episode, Jack Elliott and Chris Bates break down how the Help to Buy scheme actually works, what it’s like living with shared equity day to day, and how buyers can eventually exit the scheme and regain full ownership. We also share our honest thoughts on when shared equity can make sense and when other pathways may be a better fit.

In this episode:

🔑 What shared equity is and how the Help to Buy scheme works

🔑 Who the scheme is designed for and how eligibility works

🔑 What it’s really like living in a shared equity arrangement

🔑 How and when you can exit the scheme and buy back full ownership

🔑 The key trade-offs to consider before choosing shared equity

Timestamps

00:00 - Introduction to the Help to Buy Scheme

01:59 - What Shared Equity Actually Means

04:13 - How the Help to Buy Scheme Works and Who It’s For

09:40 - What It’s Like Living with the Help to Buy Scheme

14:56 - How to Exit the Scheme and Regain Full Ownership

20:54 - Our Thoughts on Shared Equity and Help to Buy

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Unlocking Help to Buy Scheme Resource

Help to Buy Scheme

Property Price Cap Tool

Help to Buy Scheme Fact Sheet

Help to Buy Scheme Customer Guide

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Interest rates are one of the first things first home buyers focus on. In this episode, Jack Elliott and Chris Bates break down what an interest rate actually is, who sets it, and why it changes over time in clear, simple terms.

You’ll learn the difference between fixed, variable and split loans, how the RBA and banks each play a role in setting your rate, and why today’s rates feel so different compared to the Covid years. 

Most importantly, we talk about how to plan for future rate changes so your repayments stay comfortable and you feel in control of your mortgage.

In this episode:

🔑 What an interest rate actually is and how it is charged

🔑 How the RBA cash rate, banks and risk all influence your rate

🔑 How to stress test your numbers and plan for future rate rises

🔑 Why your long term strategy matters more than chasing the lowest rate

Timestamps 

00:00 - Introduction to Interest Rates

02:12 - What an Interest Rate Actually Is

03:43 - Fixed, Variable and Split Loans Explained

06:38 - Who Sets Your Rate and Why It Changes

12:51 - Interest Rate Trends in The Past 

16:09 - How to Plan for Future Rate Movements

19:23 - Why Strategy Matters More Than the Rate

22:39 - Episode Wrap-Up and Key Takeaways

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Unlocking Interest Rates Resource

Episode 21 | Unlocking Unlocking How Your Mortgage Actually Works

ASX RBA Interest Rate Tracker

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Lender’s Mortgage Insurance is sometimes a misunderstood part of buying your first home. Most people know it shows up when your deposit is under 20%, but not everyone understands what it actually is, why banks charge it, or when paying it can genuinely help you get into the market sooner.

In this episode, Jack Elliott and Chris Bates break down LMI in simple, practical terms. How it works, how much it costs, and how it fits into today’s first home buyer landscape. You’ll learn the four main pathways that can help you reduce or avoid LMI, plus when paying LMI can actually be a smart move if it helps you buy a quality home earlier.

We also talk through real examples, including profession-based waivers, new no-LMI policies, and family guarantor options.

In this episode:

🔑 What LMI actually is and why banks charge it

🔑 How LMI affects your borrowing power and interest rate

🔑 The main ways first home buyers can avoid or reduce LMI

🔑 When paying LMI is actually worth it

🔑 How LMI fits into your long-term strategy as a first home buyer

Timestamps 

00:00 - Introduction to Lenders Mortgage Insurance (LMI) 

01:59 - What is LMI? 

04:57 - Options for FHB’s to Avoid Paying LMI

15:51 - When Paying LMI is Worth it

19:39 - How LMI is Priced 

22:05 - Key Takeaways of LMI 

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Unlocking LMI Resource

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Your Loan to Value Ratio (LVR) is one of those terms you’ll hear a lot when applying for a loan, but not every first home buyer understands how it actually impacts your interest rate, your approval, or how much flexibility it can open up for your future.

In this episode, Jack Elliott and Chris Bates break down LVR in clear, simple terms, what it is, how it’s calculated, and why it matters so much for your first home strategy.

You’ll also learn how LVR works under the First Home Guarantee, what to think about when borrowing at 95% LVR, and how your LVR improves naturally over time as you build equity.

In this episode:

🔑 What LVR actually is and how it’s calculated

🔑 Why banks care about LVR and how it affects rates

🔑 How LVR influences lending policy and flexibility

🔑 How LVR works under the First Home Guarantee (5% Deposit Scheme)

🔑 How LVR and equity work together as your loan and property value change

Timestamps 

00:00 - Introduction to Loan to Value Ratio (LVR

02:04 - What is Loan to Value Ratio (LVR) & Why it Matters? 

05:52 - LVR and Lending Policy

08:27 - LVR Under the First Home Guarantee (5% Deposit Scheme)

11:48 - Understanding the Risk of 95 % LVR

12:49 - The Relationship Between LVR and Equity

14:59 - Using LVR to Build Leverage and Flexibility

18:22 - LVR Episode Recap

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Unlocking LVR Resource

Episode 6 | Unlocking Asset Quality: How to Choose the Right Property as a First Home Buyer

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You’ve probably seen the claim online that paying your mortgage fortnightly will save you thousands in interest. In this episode, Jack Elliott and Chris Bates break down why that isn’t always true, and why it all comes down to how your bank actually calculates your repayments.

You’ll learn the two different repayment methods lenders use, when the “save thousands” theory works, and when switching to fortnightly makes no difference at all. We also cover how to choose the right repayment method for you.

In this episode:

🔑 The two ways banks calculate weekly and fortnightly repayments

🔑 When the “save thousands” theory actually works and when it doesn’t

🔑 How to choose the right repayment frequency for your situation

Timestamps 

00:00 - Introduction and What’s Happening in the First Home Buyer Market (November 2025)

03:00 - The Viral Fortnightly Repayment Claim Explained 

03:41 - The Half-Monthly Repayment Method & Example Breakdown

05:35 - Paying Your Loan on Your Terms (Not the Bank’s)

08:15 - The Actual Repayment Method & Example Breakdown

09:34 - Why Lenders Use Different Repayment Methods 

12:39 - Jack’s Take: Why Monthly Repayments Often Work Best 

13:13 - Chris’s Take: Cashflow, Behaviour, and Real-Life Strategy 

14:58 - Considerations for Investment Purchases & Wrap-Up

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Unlocking Repayment Frequency Resource

MoneySmart Mortgage Calculator 

Episode 21 | Unlocking Unlocking How Your Mortgage Actually Works

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Most first home buyers think a mortgage is just a loan but understanding how it actually works can help you use it as a tool for long-term flexibility and freedom.

In this episode, Jack Elliott breaks down how your mortgage works behind the scenes, from principal and interest to loan terms, repayment options, and how banks calculate interest daily. You’ll learn what really happens after settlement, how repayments are structured, and what influences the total cost of your loan over time.

If you’ve ever wondered where your money actually goes each month or how lenders calculate your repayments, this episode explains it all in clear, simple terms.

In this episode:

🔑 What a mortgage actually is

🔑 Principal, interest, and how repayments are calculated

🔑 How interest is charged daily and what that means for you

🔑 Loan terms explained and how they shape total repayments

🎧 Listen now and understand exactly how your mortgage works with clarity and confidence.

Timestamps 

00:00 - Introduction to how your Mortgage Actually Works 

01:28 - What is a Mortgage?  

02:06 - Key Parts of a Mortgage

02:59 - Understanding Interest & How it is Calculated 

03:24 - How Much Do You Really Pay Back? 

04:55 - Understanding Interest Rates 

05:34 - Variable Interest Rates 

06:58 - Fixed Interest Rate

08:07 - Rates Will Change Over Time & Assessment Buffers 

08:59 - How Repayments Work 

10:23 - Loan Terms & Flexibility 

11:54 - Loan Fees & Features 

12:16 - Wrap Up on Understanding Mortgages & Key Takeaway

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Unlocking How Your Mortgage Actually Works Resource

Episode 1 | Unlocking Your Property Vision as a First Home Buyer 

Episode 3 | Unlocking the Real Cost of Buying Your First Home 

Episode 6 | Unlocking Asset Quality: How to Choose the Right Property as a First Home Buyer

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The First Home Guarantee Scheme has a new name, it’s now called the 5% Deposit Scheme, but how it actually works, and what the latest report reveals, might surprise you.

In this episode, Jack Elliott unpacks the 2024–25 Financial Year Housing Australia Report and clears up the biggest myths surrounding the scheme: that it’s brand new, that it’s tied to one political party, and that it’s high-risk for buyers. You’ll learn what the data really shows about borrower performance, how the scheme is being used across Australia, and what it actually costs to buy under it.

Whether you’ve heard mixed messages online or you’re wondering if this could help you buy sooner, this conversation will help you understand the facts and how to use the scheme strategically.

In this episode:

🔑 Why the 5% Deposit Scheme isn’t new (and how it’s evolved since 2020)

🔑 The real numbers from the 2024–25 Housing Australia Report

🔑 How arrears and defaults compare to the broader market

🔑 What “borrowing at 95% LVR” really means for risk and buffers

🔑 Why you’ll need more than a 5% deposit once all upfront costs are included.

Timestamps 

00:00 - Introduction to the 5% Deposit Scheme Report 

01:55 - What is the 5% Deposit Scheme? 

02:22 - Misconception 1: The Scheme is New 

03:56 - Misconception 2: It is a Labour Only Scheme 

04:41 - Misconception 3: There’s a high risk of defaults or arrears

05:33 - Understanding the Risk of using the 5% Deposit Scheme 

06:45 - Misconception 4: You only need a 5% deposit to buy

09:03 - What the 2024–25 Financial Year Report Shows

01:20 - The Key Takeaway when using the 5% Deposit Scheme 

10:51 - Wrap-Up & What’s Coming Next

Unlock your Free Resources 

The Truth About the 5% Deposit Scheme Resource

HGS Trends and Insights Report 2024-25

Original 5% Deposit Scheme Accountment (2020)

National Arrears Data 

Episode 1 | Unlocking Your Property Vision as a First Home Buyer 

Episode 3 | Unlocking the Real Cost of Buying Your First Home 

Episode 6 | Unlocking Asset Quality: How to Choose the Right Property as a First Home Buyer

Episode 10 | Unlocking the First Home Guarantee Scheme: Buying Your First Home With 5% Deposit

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firsthomeunlocked.com.au

Western Australia offers some strong incentives to help first home buyers reduce upfront costs and enter the market with confidence, but knowing how to use them strategically is what makes the difference.

In this episode, Jack Elliott breaks down what’s available as of October 2025, including WA’s stamp duty concessions for first home buyers, the $10,000 First Home Owner Grant for new builds, updates to the First Home Guarantee Scheme, and Keystart’s shared equity and low-deposit options.

You’ll learn who’s eligible, how each incentive works, and how to think strategically about which programs genuinely support your long-term goals, not just short-term savings.

In this episode:

🔑 Stamp duty concessions for first home buyers in WA

🔑 $10,000 First Home Owner Grant explained

🔑 First Home Guarantee: Buy with 5% and pay no LMI

🔑 Keystart Shared Equity and Low-Deposit Loan overview

🔑 Strategy insights to build long-term flexibility and equity

Timestamps 

00:00 – Intro: WA incentives overview

01:42 – Stamp duty concessions

03:00 – Example breakdowns & eligibility

04:05 – Strategy: don’t chase savings

05:06 – $10K First Home Owner Grant

06:46 – First Home Guarantee updates

08:28 – Shared Home Ownership (Keystart)

11:13 – Strategy: pros & cons of shared equity

12:22 – Wrap up & next steps

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WA First Home Buyer Resource

First Home Owner Rate of Duty

Stamp Duty Calculator

First Home Owners Grant

First Home Guarantee Scheme 

Opening Doors Shared Equity

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firsthomeunlocked.com.au

South Australia offers a range of incentives to help first home buyers reduce upfront costs and enter the market sooner, but knowing which ones actually support your long-term goals is key.

In this episode, Jack Elliott breaks down what’s available as of October 2025, including the state’s full stamp duty relief for new homes, the $15,000 First Home Owner Grant, updates to the First Home Guarantee Scheme, and South Australia’s own shared equity option through HomeStart Finance.

You’ll learn who’s eligible, how each incentive works, and where to think strategically about how these programs fit within your bigger plan, not just your short-term savings.

In this episode:

🔑 Full stamp duty relief on eligible new homes and land

🔑 $15,000 First Home Owner Grant explained

🔑 First Home Guarantee: Buy with 5% and pay no LMI

🔑 HomeStart Shared Equity Option overview

🔑 Strategy insights for choosing long-term value over short-term savings

Timestamps 

00:00 – Intro: SA incentives overview

01:05 – Stamp duty relief explained

03:13 – Strategy: long-term focus

04:30 – $15K First Home Owner Grant

06:14 – First Home Guarantee update

07:43 – HomeStart Shared Equity Option

11:39 – Strategy: pros & cons

12:33 – Wrap up & next steps

Unlock your Free Resources 

SA First Home Buyer Resource

Stamp Duty Relief 

Stamp Duty Calculator 

First Home Owners Grant

First Home Guarantee Scheme 

HomeStart - Shared Equity Option

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firsthomeunlocked.com.au