Help to Buy Scheme

The Australian Government Help to Buy Scheme represents a significant opportunity for Australian Defence Force members to achieve their homeownership dreams through innovative shared equity arrangements. This groundbreaking initiative allows the Government to contribute towards the purchase price of your home, effectively bridging the gap between your savings and the total cost of buying a home. Defence Loans specialises in guiding defence personnel through this complex process, ensuring you understand how the Help to Buy Scheme can work alongside traditional home loan options to make homeownership more accessible than ever before.

Navigating the application process for the Help to Buy Scheme requires expert knowledge of participating lenders and eligibility criteria that can significantly impact your borrowing capacity. Defence Loans works closely with banks and lenders across Australia to access home loan options that complement the shared equity scheme, potentially reducing your required deposit and eliminating the need for lenders mortgage insurance (LMI) in many cases. Our team understands that limited places are available each year for the Help to Buy Scheme, making it crucial to have your home loan application properly prepared with accurate bank statements and documentation to maximise your chances of approval.

The Help to Buy Scheme is available for both first-time buyers and those returning to home ownership, covering new or existing homes as well as vacant blocks of land for construction projects. Defence Loans ensures you understand the types of homes you can buy under this scheme and how it integrates with your overall home loan strategy. Whether you're looking to get pre-approved for a traditional home loan or explore how the Government's contribution can reduce your ongoing repayments, our expertise in home loan rates and application processes ensures you make informed decisions about your financial future.

Understanding your ongoing obligations and exit strategies is crucial when participating in the Help to Buy Scheme, as these shared equity arrangements involve long-term commitments that extend beyond typical home loan considerations. Defence Loans provides comprehensive guidance on how stamp duty concessions, interest rate structures, and the loan amount calculations work within this framework. Our professional approach ensures you're fully informed about how the scheme operates across all States and Territories, helping you understand the complete picture of homeownership costs and benefits.

Defence Loans recognises that applying for a home loan through the Help to Buy Scheme requires specialised knowledge that goes beyond standard lending practices. Our commitment to supporting Australians in defence roles means we provide personalised guidance throughout your home loan pre-approval process, ensuring you understand how this innovative scheme can work with traditional lending options. By choosing Defence Loans, you gain access to expert advice on maximising your borrowing capacity while taking advantage of this valuable Government initiative designed to make homeownership more achievable for eligible Australians.

Step 1: Initial Consultation

Your property journey begins with a comprehensive discussion with your Defence Home Loans broker who understands the unique circumstances of ADF members. Whether you're purchasing your first home, investing, or refinancing, your broker will understand your goals, financial situation, and ADF-specific conditions such as postings or deployment income. This is when you'll discuss your borrowing capacity and explore loan options from over 2,000 products across major banks, smaller lenders, and non-bank lenders. Your broker will also walk you through interest rates, LVR, and any possible LMI considerations.

Step 2: Financial Assessment

The next step involves your broker conducting a thorough evaluation of your complete financial position, including ADF allowances and benefits that other brokers might overlook. This includes reviewing your regular income, deployment pay, allowances, bank statements, assets, liabilities, credit history, and savings patterns. Your broker will then calculate your true borrowing capacity, helping you understand how much you can afford and what your monthly repayments might look like. Your broker will also assess whether you qualify for interest rate discounts, government schemes, or ADF-specific benefits like the Defence Service Home Ownership Assistance Scheme.

Step 3: Loan Selection

Based on your financial situation and military lifestyle requirements, your broker will research and present a curated list of loan options from lenders who understand ADF circumstances. These loans will be tailored to meet your specific needs, whether you're looking for fixed rates, variable rates, or flexible options with offset accounts that work with irregular deployment income. Your broker will explain the loan-to-value ratio (LVR) and help you weigh the pros and cons of each option, ensuring you make an informed decision that accommodates potential postings and career changes.

Step 4: Pre-Approval

Getting pre-approved gives you a clear understanding of your budget and strengthens your negotiating position, especially important if you're buying where you're not currently stationed. Your broker will guide you through this process using our online technology, ensuring all necessary documents including tax returns, payslips, and allowance statements are submitted efficiently. Pre-approval gives you confidence to act quickly in any Australian property market and avoid missing out on your desired property, even if deployed overseas.

Step 5: Application Submission

Once you've selected the right loan, your broker will manage the entire application process, handling all lender communications regardless of where you're stationed. They will submit your application and ensure all required documents are provided, including ADF-specific paperwork such as proof of allowances, deployment income, or service history. Your broker will maintain regular communication with you and the lender, addressing questions and ensuring a smooth process that works around your military commitments.

Step 6: Loan Approval & Settlement

After your loan is approved, your broker will assist in reviewing the final loan agreement, ensuring all terms including interest rates, fees, and repayment schedules are clearly understood. They will help set up your repayment structure to accommodate ADF pay cycles and assist with arranging necessary insurance such as home loan protection. Once settlement is confirmed, your property ownership is complete, and you'll receive access to your new property, whether you can move in immediately or need to arrange tenants due to postings.

Step 7: Ongoing Support

Once your loan is settled, Defence Home Loans remains available for comprehensive ongoing support throughout your military career and beyond. This includes advising on managing loan repayments during deployments, exploring refinancing opportunities as circumstances change, or helping you leverage home equity for future investments. Your broker's relationship doesn't end at settlement—they'll guide you through postings, career transitions, and your entire property ownership journey as a current or former ADF member.