General information · Policy last reviewed 2026-10-31 · Confirm your circumstances with your broker and conveyancer.
The Australian Government 5% Deposit Scheme may let eligible first-home buyers purchase with a minimum 5% deposit without LMI. It is a lender guarantee, not a cash grant or a loan approval. Extra costs still apply.
I help check the pathway and coordinate with the participating lender. You provide the requested information and declarations. We also check the First Home Owner Grant and Victorian First Home Buyer Stamp Duty Exemption or Concession separately.
Current Victorian location caps: $950,000 for Melbourne/Geelong and $650,000 for other areas. Price and lender-assessed value must fit the cap; confirm the location with the lender. For a build, the land and construction costs must be considered together.
Open the scheme note at any step if you’d like the detail. It is not homework you need to memorise. Different rules apply to the single-parent pathway and Help to Buy.
Here’s what I handle, your part, and where other professionals help. Open the extra detail only when you need it.
Land, build and the costs in between. We look at them together.
I review your borrowing position and help you understand the deposit, likely finance costs and potential benefits across the land and build.
Tell me what you want to buy and build, your savings and your budget. Share the information I request.
Your conveyancer and builder advise on their parts of the purchase and project.
Before you commit, we work out what the lender will need.
I explain whether the lender requires both land and build contracts upfront and what its construction assessment needs. I help you understand how the finance timing fits together.
Send me the proposed land and build details early. Arrange legal review before signing and choose your builder and home design.
Your conveyancer or solicitor reviews the contracts. Your builder is responsible for the scope, specifications, price and build.
I deal with the finance process. You don’t have to learn the bank’s language.
I prepare and lodge the loan application, liaise with the lender about its valuation and construction assessment, and follow up its requests. I explain what is approved and what is still conditional.
Provide the contracts, plans and other documents requested. Review and sign the application documents.
The lender assesses and approves the loan. Legal and building checks remain with your conveyancer and builder.
The first major milestone: the land becomes yours.
I follow up the lender’s land-settlement requirements and explain what must happen before construction funding can be released.
Have your contribution ready and sign the required documents. Check the agreed next steps before authorising work.
Your conveyancer handles the land transfer and settlement with the lender, including applicable stamp duty requirements.
You focus on the build; I help with the finance questions along the way.
I explain the lender’s progress-payment process and help with finance queries or issues that arise. I’ll tell you when an invoice or payment request needs to go directly to the lender.
Review the builder’s stage claims, provide requested documents and tell me about variations, delays or budget changes early.
The builder completes the work. You and any appointed inspector review it; the lender assesses and releases payments under its process.
The build finishes, and the final loan steps come together.
I help you understand outstanding lender requirements, the final funding process and how repayments will work after construction.
Complete the handover checks with the relevant professionals, arrange insurance and move in within any benefit deadlines.
The builder and relevant certifier provide completion/occupancy documentation. The lender decides when final funds can be released.
Rules effective 2025-10-01; reviewed 2026-10-31. Construction timing follows sections 3.3.1–3.3.2 of the official guide. Lender requirements may be stricter. Yash assists with the finance process; lenders decide loan approvals, legal advisers handle contracts and builders deliver construction.
We use “Victorian First Home Buyer Stamp Duty Exemption or Concession” as a plain-English website label. The SRO’s official term is “first home buyer duty exemption or concession”. Previous ownership, partner history, residency, value and occupancy conditions apply. This guide is general, not an assessment or legal advice.