Understanding how offset accounts and redraw facilities work can save you thousands in interest and years off your home loan. But most first home buyers have never been taught the difference between them or how to use them strategically.

In this episode, Jack Elliott and Chris Bates break down what an offset account actually is, how redraw works differently in the background, and why the choice between them matters, especially if your first home might become an investment property down the track.

We walk through real examples showing how even small amounts sitting in offset or paid as extra repayments can make a huge difference over the life of a 30-year loan. We also talk about money psychology and how to choose the right structure based on your goals and how you manage money.

In this episode:

🔑 What an offset account actually is and how it reduces interest

🔑 What a redraw facility is and how it works

🔑 The key differences between offset and redraw

🔑 How to use each strategically based on your goals

🔑 Real examples showing the impact of your offset account and extra repayments

Timestamps

00:00 - Introduction to Offset & Redraw Episode

02:42 - What is an Offset Account?

04:28 - Impact of an Offset Account

09:10 - What is a Redaw?

12:59 - Offset vs Redraw: Key Differences and Strategy

16:11 - Money Psychology around Offset and Redraw

19:29 - The Power of Extra Repayments with Examples

23:23 - Episode Wrap up & Key Takeaways

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Mentioned Episodes:

Episode 21 | Unlocking How Your Mortgage Actually Works

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Buying your first home is a big decision, and it often comes with a lot of external pressure. Pressure from family, friends, media headlines, and sometimes even from yourself through comparison and the fear of missing out.

In this episode, Jack Elliott and Chris Bates talk through the most common pressures first home buyers face and how to navigate them without feeling rushed or overwhelmed.

We explore the "just get in" mindset and why buying without thinking about asset quality can create bigger issues later. We also address the fear of missing out, the pressure around rising property prices, and the idea that "rent money is dead money."

Most importantly, we share practical tools to help you step back, get clear on your goals, and make decisions that actually support your vision and future.

In this episode:

🔑 How to handle other people's opinions and conflicting advice

🔑 Why "just getting in" can be risky without focusing on asset quality

🔑 Navigating FOMO and the fear of being locked out of the market

🔑 The future self test: buying for where you want to be in 5-10 years

🔑 Why rent money isn't "dead money" and reframing the conversation

Timestamps

00:00 - Introduction: First Home Buyer Pressures

02:30 - Handling Other People's Opinions

06:11 - The "Just Get In" Mindset and Why It's Risky

13:52 - FOMO and The Future Self Test

21:16 - The "Rent Money's Dead Money" Story

25:22 - Episode Wrap Up

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Mentioned Episodes:

Episode 25 | Unlocking Interest Rates and Why They Move

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In early February 2026, there was an interest rate rise announced by the Reserve Bank of Australia (RBA). Jack Elliott and Chris Bates talk through what this actually means for first home buyers and how to respond without feeling rushed or pressured.

We break down the practical impact of a rate rise on both monthly repayments and borrowing capacity, and share real examples so you can understand what this looks like in your situation.

Most importantly, we talk about what you can control right now. You can't control interest rates or the market, but you can control getting a clear plan in place that suits your goals, your budget, and your life.

In this episode:

🔑 What the interest rate rise means for first home buyers

🔑 The practical impact on monthly repayments and borrowing capacity

🔑 Why building buffers into your plan from the start matters

🔑 What to focus on right now and how to control what you can control

🔑 What Chris is seeing in the market after the rate rise

Timestamps

00:00 - What First Home Buyers Should Do After a Rate Rise

07:47 - How a Rate Rise Affects Your Repayments and Borrowing Power

10:11 - What Chris is Seeing in the Market After the Rate Rise

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Mentioned Episodes:

Episode 25 | Unlocking Interest Rates and Why They Move

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If buying your first home is part of your plan for 2026, this two-part series is designed to give you a clear, step-by-step framework to follow.

In Part 2, Jack Elliott and Chris Bates move into the action phase of the buying journey. This is what happens once you’re pre-approved and ready to start looking at properties.

We walk through how to assess asset quality, what to look for at inspections, the due diligence every buyer should be doing, how to structure a strong offer, and what actually happens from formal approval through to settlement. This episode is about slowing things down just enough to make good decisions and move forward with clarity and confidence.

In this episode:

🔑 How to assess asset quality and choose the right property

🔑 What to look for at inspections and the due diligence that matters

🔑 How to make a confident offer and protect yourself

🔑 What happens from formal approval through to settlement

Timestamps

00:00 - Introduction to How to Buy Your First Home (Part 2)

03:27 - Step 6: Asset Quality

14:35 - Step 7: Property Inspections and Due Diligence

28:08 - Step 8: How to Make an Offer

38:42 - Step 9: Formal Approval & Settlement

32:10 - Wrap Up & We Are Here to Help You in 2026

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How to Buy Your First Home Step By Step Resource

Download your Asset Quality Checklist

Get Your Unlocking Asset Quality Resource

Get Your Making An Offer Resource

Get Your Settlement Ready Guide

Mentioned Episodes:

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

Episode 7 | Unlocking Offers: How To Make a Confident Offer as a First Home Buyer

Episode 8 | Unlocking Formal Approval & Settlement for First Home Buyers

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If buying your first home is part of your plan for 2026, this two-part series is designed to give you a clear, step-by-step framework to follow.

In Part 1, Jack Elliott and Chris Bates walk through the preparation phase of buying your first home. This is the groundwork you’ll want to do before inspections or making offers, and it sets you up to move forward with confidence.

We cover how to get clear on your goals, understand your upfront costs, choose the right deposit pathway, and organise your pre-approval so you’re ready to begin your property search.

In this episode:

🔑 Getting clear on your goals and vision before you buy

🔑 When to speak to a broker and why timing matters

🔑 Understanding the real upfront costs beyond the deposit

🔑 Deposit options and pathways available to first home buyers

🔑 What pre-approval actually means and how to prepare properly

Timestamps

00:00 - Introduction to How to Buy Your First Home (Part 1)

03:27 - Step 1: Goals and Visions

08:50 - Step 2: Speaking With the Right Broker

13:27 - Step 3: Understanding the Real Costs of Buying Your First Home

22:33 - Step 4: Understanding How Much Deposit You Need

28:02 - Step 5: Get Your Pre-Approval Organised

32:10 - Wrap Up and Looking to Forward to Part 2

Unlock your Free Resources

How to Buy Your First Home Step By Step Resource

Download Your Goals & Visions Workbook

Download Your State by State Stamp Duty Guide for First Home Buyers

Get Your Unlocking the Costs to Purchase Your First Home Resource

Get Your Unlocking Your Deposit Resource

Get Your First Home Guarantee Scheme Resource

Mentioned Episodes:

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

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

Episode 4 | Unlocking Your Deposit: How Much Do First Home Buyers Really Need?

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

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📅

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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