page top

First Home Owner Spotlight: Why 2021 is the perfect time to finally enter the property market

Attention: open in a new window. Print

First Home Buyers

First Home Owner Spotlight:

Why 2021 is the perfect time to finally enter the property market

2020 was a big year for pretty much every human on the planet. Most of us were so distracted by what was happening on both the local and global stage, we kind of forgot our goals and dreams and parked many of our aspirations over in the ‘when things go back to normal’ basket. But things may never go ‘back’ to the way they were. Life (even pre-pandemic) has always been in constant flux and humans are continually adapting and evolving.

As we enter into a new year, it’s a great time to reassess your financial goals and perhaps pick up where you left (before things went cray cray). If buying a property was on your list of things to do last year, but it was put on hold, now is a wonderful opportunity to revisit that goal.

Get into your own home sooner

With interest rates at an all-time low and more and more businesses giving staff the option to work remotely, opportunity is knocking for many first home buyers. Working from home has eliminated (or at least reduced) the need to commute, meaning buying properties outside of metropolitan areas is now a more realistic option for lots of Australians. From larger blocks to more affordable properties, buying outside of tightly held and expensive city areas has opened the door to many people wanting to enter the property market, and if you’re a first home buyer looking to build or buy a property there is even more reason to step up your home hunting.

The 2020-21 Federal Budget included some exciting news for eligible borrowers venturing out to buy their first property. Under the First Home Loan Deposit Scheme, eligible first home buyers on low and middle incomes are able to purchase a home with a deposit of as little as 5 per cent. The Australian Government have announced an additional 10,000 First Home Loan Deposit Scheme (FHLDS) places for the 2020-21 financial year, specifically for eligible first home buyers building or purchasing new homes. These additional places are known as FHLDS (New Homes).

Sydney Mutual is an approved lender for the Scheme and is positioned to assist with the application process. Provided the eligibility criteria are met, the First Home Loan Deposit Scheme could potentially even be combined with other first home buyer Government assistance, including stamp duty concessions and First Home Buyer Grants.

First home buyers can also take advantage of the First Home Buyers 2 Year Fixed Rate (Special Offer) which includes assistance with applying for the First Home Owner Grant as well as complimentary financial planning assessment. Both the valuation fee (up to $500) and establishment fee ($250) have also been waived for this special offer.

If you would like to check your eligibility and secure a place under the Scheme please speak to one of our friendly lending specialists who will be able to guide you through the appropriate steps. Please get in contact 1300 13 14 20 email or apply online as soon as possible as places are strictly limited.




Alison Gallagher is a freelance writer, resourcefulness expert and entrepreneur. She has been featured in various publications including Stellar Magazine, Australian Health and Fitness Magazine, and Cleo Magazine. Alison is particularly passionate about sharing practical tips on how to live simply, sustainably and seasonally. 

All information is correct as at 1/1/2021 and subject to change. Full details available on application. All applications are subject to Australian Mutual Bank Ltd normal lending criteria. Terms, conditions, fees and charges apply.