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Government mortgage guarantee scheme aims to help first home buyers enter the property market

First Home Loan Deposit Scheme Explained: 

  • A Federal Government scheme to allow first home buyers to purchase a property with a deposit as little as 5 per cent will operate on a “first-in, best-dressed” basis
  • Save 5% deposit of your property and government will guarantee the remaining 15% of the deposit. You still borrow 95%, but avoid LMI. 
  • 10,000 first home buyers on low and middle incomes enter the market each year from January 2020
  • The program will be open to singles with a taxable income up to $125,000 per year and couples earning less than $200,000 per year, and will apply to owner-occupied loans on a principal and interest basis.
  • Mortgage need to be owner occupied with principal and interest (P&I) repayments. 
  • More information to come on which lender will be involved and what the interest rates will be. 
  • Price thresholds apply. 

Scheme’s property price caps:

State/territory Capital city and regional centres Rest of state
NSW $700,000 $450,000
VIC $600,000 $375,000
QLD $475,000 $400,000
WA $400,000 $300,000
SA $400,000 $250,000
TAS $400,000 $300,000
ACT $500,000
NT $375,000

For further information, please contact us! 

1300 429 921


ACL 389328/487319 

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Finding hard securing Home Loan? Introducing Solutions.

Learning and understanding client’s unique situation/goal has shaped us to be “Home Loan Solution” finder than simply dealing with typical lender profile.

Means where the big lenders stop, our expertise to find ‘Loan Solutions’ continues.

Sometimes getting the right home loan can be a challenge, especially if you’ve been knocked back by the banks, have a blemish on your credit report, are self-employed or don’t have up-to-date tax returns. This is where our expertise come in to find a Loan Solution!

Whatever your circumstances, we deal with lenders from our panel for to find Loan Solutions who takes a personal approach to your home loan. As your broker, we will work with you and base decisions on discussions and supporting documentation, not data alone. The approach is based on flexible lending criteria to help you begin your journey.

If you or know anyone in ambiguity about their unique situation and getting Home Loan – PLEASE SPEAK TO US OR REFER THEM TO US!

Referral Form


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“Qualifying for home loan remains a source of anxiety as banks continue to strengthen their lending rules. Home loan borrowers are most worried about over borrowing capacity, fearing loan rejection or concerned they will fall short of their lending expectations.”


Our motto is simple “to pay close attention to the concerns of clients and understand their unique situation”

As a boutique mortgage broker, we will provide you a tailored service that others simply can’t match. Whether you are refinancing, investing or buying first home, you can rest easy knowing that our expert broker will work around the clock to get you a deal that works for you.

We will remove the pain points for you when applying for a loan, not only from a convenience perspective, but from an expertise level that gives you a greater chance of success.

Along with discussing possible features like competitive interest rates, redraw facilities and other features, we will provide you with customer service that you will value for the life of your loan!

Our commitment to transparency and communication means help is only a phone call away – and if you can’t reach us, we promise get back to you within 5  business hours. 


CALL US to get our expert broker by your side and feel confident that you are in safe hands.

Our service is NO COST to YOU as we get paid by the lender.


M) 0433 180 646 

e) pujan@spmortgages.com.au 

Authorised Credit Representative of Connective Credit Services Pty Ltd under Australian Credit Licence No. 389328/ CRN 487319. Your full financial situation and requirements need to be considered prior to any offer and acceptance of a loan product.


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Having bank-xiety?

A new survey from ME revealed 94% of Australians think banks don’t act in their best interest. 95% agree banks sometimes put profits before customers and 92% believe banks sell products and services inappropriate to customers.

Jamie McPhee, ME CEO, coined the phrase ‘bank-xiety’ as a term to describe these findings of worry, nervousness and distrust towards banks.
Despite this, only 14% of respondents have done something about this and have switched or are in the process of switching to a bank they trust.

If you  are facing any of these symptoms TALK TO US!  WE CAN HELP.

  • With the same bank for many years and you know the rate has gone up, but you are scared to check by how much.
  • You’re struggling to keep up with loan repayments, but you don’t think your bank will help.
  • You’ve lost faith in your bank after reading the Banking Royal Commission News.
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Royal Commission’s Final Report

The national peak body representing finance and mortgage brokers says the royal commission has failed to understand the role of mortgage brokers and the competitiveness they bring to the market following its recommendations to eliminate trail commissions for brokers, which the Government has implemented from July next year.

Managing director of the Finance Brokers Association of Australia (FBAA), Peter White said today should be the day of reckoning for big banks who have spent far too many years putting profits above people, yet the result of eliminating trail commissions could realistically mean interest rate hikes.

“This could force up-front commissions to rise in order to compensate for reduced revenues to brokerages, which in turn will lift interest rates and make housing affordability more difficult,” he explained.

He also slammed the recommendation to eliminate up-front commissions, and congratulated the Government for not reacting to this.

“Commissioner Hayne wants to hand even more power to the big banks and eliminate competition, which is a ridiculous scenario and shows just how out of touch he is when it comes to brokers.

“If a user-pays model was implemented, we know that most borrowers wouldn’t pay, and banks would make more money and standards would drop further.

“It’s very disappointing that the royal commission wants to destroy some 20,000 small businesses for the monetary gain of the big banks, and we trust the Government will see clearly on this and continue to work extensively with our industry to improve consumer outcomes.”

Mr White said borrowers trust and support brokers.

“There is a reason why over 59 per cent of loans are written through brokers. Customers have no issues with broker commissions.

“Customers get a better outcome by using a mortgage broker. They get better service, more choice and a well trained finance expert to take them through what is a massive and stressful time of their life,” he said.

He also pointed out that the broking sector was well already ahead of the game, having been through reviews from ASIC and the productivity commission.


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5 key home buying and lending trends to expect this Spring

Spring is here, and that means property investors are going to be out and about soaking up the sun and looking for their next investment opportunity in the fresh spring air. I think five key trends buyers and borrowers should be aware of over the next three months:

  • Cooling real estate market
  • Declining investor interest
  • Access to credit will remain tight
  • Good opportunities for first home buyers
  • Refinancing on the rise


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March 2018: RBA leaves interest rate on hold but are you saving on your loan?

We have now gone 19 months without any change from the RBA – I think this has provided much-needed stability for mortgage holders.

If you are mortgage holder, you should make sure your loan is not costing you thousands of dollars by not taking advantage to seek the best deal you can get on your mortgage in the current market.

Get a guidance and opinion from our Mortgage Broker who can check your mortgage health and see whether you are eligible to refinance and save thousands!

Contact us for free consulatation 0433 180 646 or email info@spmortgages.com.au

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First Home Buyers – Avoid Costly Mistakes!

2 common mistakes First Home Buyers make before real house hunting.

1. NOT getting pre-approval: just knowing you qualify for a home loan is not enough. Before you start searching for properties, you should obtain a pre-approval letter from lender on how much they are willing to lend you.

Benefits of gaining pre-approval:

– Let you buy the property with confidence since it gives you clear guidance on how much money you can borrow
– You will not set yourself up for disappointment if you think you can spend more than your lender agrees to lend you
– It can speed up your mortgage application process, so when you decide on a property, you can access your home loan faster.
– It shows real estate agents and vendors that you are serious about doing a deal, which could make negotiations easier.
– It can be valid for up to 6 months


– Get multiple pre-approvals with different lenders because having multiple can affect your credit rating, as your credit file will show numerous enquiries with different lenders.
– If you are not seriously considering purchasing than you should not seek a pre-approval because unnecessary finance enquiry may negatively impact on your credit rating.

2. Underestimating or not estimating additional costs is a fatal mistake many first-home buyers make and thinking that if they’ve got a $50,000 deposit and a $500,000 home loan they will be able to afford a $550,000 property. The reality is that there are many other costs you should know and budget ahead of time so you won’t be losing sleep when you move into your new home.

Some of the additional costs include:

– Stamp duty
– LMI – Low mortgage insurance (applicable if your loan value is more than 80%)
– Solicitor’s cost
– Home insurance
– Moving costs
– Council rates and water rates

Buying your first home can be quite tricky. That’s why, I am here to be with you every step of the way AND PROTECT YOU FROM MAKING ANY COSTLY MISTAKE!

Contact us to help you avoid any mistake with your first property!