You’ve probably seen the claim online that paying your mortgage fortnightly will save you thousands in interest. In this episode, Jack Elliott and Chris Bates break down why that isn’t always true, and why it all comes down to how your bank actually calculates your repayments.

You’ll learn the two different repayment methods lenders use, when the “save thousands” theory works, and when switching to fortnightly makes no difference at all. We also cover how to choose the right repayment method for you.

In this episode:

🔑 The two ways banks calculate weekly and fortnightly repayments

🔑 When the “save thousands” theory actually works and when it doesn’t

🔑 How to choose the right repayment frequency for your situation

Timestamps

00:00 - Introduction and What’s Happening in the First Home Buyer Market (November 2025)

03:00 - The Viral Fortnightly Repayment Claim Explained

03:41 - The Half-Monthly Repayment Method & Example Breakdown

05:35 - Paying Your Loan on Your Terms (Not the Bank’s)

08:15 - The Actual Repayment Method & Example Breakdown

09:34 - Why Lenders Use Different Repayment Methods

12:39 - Jack’s Take: Why Monthly Repayments Often Work Best

13:13 - Chris’s Take: Cashflow, Behaviour, and Real-Life Strategy

14:58 - Considerations for Investment Purchases & Wrap-Up

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MoneySmart Mortgage Calculator

Episode 21 | Unlocking Unlocking How Your Mortgage Actually Works

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Most first home buyers think a mortgage is just a loan but understanding how it actually works can help you use it as a tool for long-term flexibility and freedom.

In this episode, Jack Elliott breaks down how your mortgage works behind the scenes, from principal and interest to loan terms, repayment options, and how banks calculate interest daily. You’ll learn what really happens after settlement, how repayments are structured, and what influences the total cost of your loan over time.

If you’ve ever wondered where your money actually goes each month or how lenders calculate your repayments, this episode explains it all in clear, simple terms.

In this episode:

🔑 What a mortgage actually is

🔑 Principal, interest, and how repayments are calculated

🔑 How interest is charged daily and what that means for you

🔑 Loan terms explained and how they shape total repayments

🎧 Listen now and understand exactly how your mortgage works with clarity and confidence.

Timestamps

00:00 - Introduction to how your Mortgage Actually Works

01:28 - What is a Mortgage?

02:06 - Key Parts of a Mortgage

02:59 - Understanding Interest & How it is Calculated

03:24 - How Much Do You Really Pay Back?

04:55 - Understanding Interest Rates

05:34 - Variable Interest Rates

06:58 - Fixed Interest Rate

08:07 - Rates Will Change Over Time & Assessment Buffers

08:59 - How Repayments Work

10:23 - Loan Terms & Flexibility

11:54 - Loan Fees & Features

12:16 - Wrap Up on Understanding Mortgages & Key Takeaway

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

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

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

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The First Home Guarantee Scheme has a new name, it’s now called the 5% Deposit Scheme, but how it actually works, and what the latest report reveals, might surprise you.

In this episode, Jack Elliott unpacks the 2024–25 Financial Year Housing Australia Report and clears up the biggest myths surrounding the scheme: that it’s brand new, that it’s tied to one political party, and that it’s high-risk for buyers. You’ll learn what the data really shows about borrower performance, how the scheme is being used across Australia, and what it actually costs to buy under it.

Whether you’ve heard mixed messages online or you’re wondering if this could help you buy sooner, this conversation will help you understand the facts and how to use the scheme strategically.

In this episode:

🔑 Why the 5% Deposit Scheme isn’t new (and how it’s evolved since 2020)

🔑 The real numbers from the 2024–25 Housing Australia Report

🔑 How arrears and defaults compare to the broader market

🔑 What “borrowing at 95% LVR” really means for risk and buffers

🔑 Why you’ll need more than a 5% deposit once all upfront costs are included.

Timestamps

00:00 - Introduction to the 5% Deposit Scheme Report

01:55 - What is the 5% Deposit Scheme?

02:22 - Misconception 1: The Scheme is New

03:56 - Misconception 2: It is a Labour Only Scheme

04:41 - Misconception 3: There’s a high risk of defaults or arrears

05:33 - Understanding the Risk of using the 5% Deposit Scheme

06:45 - Misconception 4: You only need a 5% deposit to buy

09:03 - What the 2024–25 Financial Year Report Shows

01:20 - The Key Takeaway when using the 5% Deposit Scheme

10:51 - Wrap-Up & What’s Coming Next

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HGS Trends and Insights Report 2024-25

Original 5% Deposit Scheme Accountment (2020)

National Arrears Data

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

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

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

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

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📱Follow Us on social media: Instagram,

Western Australia offers some strong incentives to help first home buyers reduce upfront costs and enter the market with confidence, but knowing how to use them strategically is what makes the difference.

In this episode, Jack Elliott breaks down what’s available as of October 2025, including WA’s stamp duty concessions for first home buyers, the $10,000 First Home Owner Grant for new builds, updates to the First Home Guarantee Scheme, and Keystart’s shared equity and low-deposit options.

You’ll learn who’s eligible, how each incentive works, and how to think strategically about which programs genuinely support your long-term goals, not just short-term savings.

In this episode:

🔑 Stamp duty concessions for first home buyers in WA

🔑 $10,000 First Home Owner Grant explained

🔑 First Home Guarantee: Buy with 5% and pay no LMI

🔑 Keystart Shared Equity and Low-Deposit Loan overview

🔑 Strategy insights to build long-term flexibility and equity

Timestamps

00:00 – Intro: WA incentives overview

01:42 – Stamp duty concessions

03:00 – Example breakdowns & eligibility

04:05 – Strategy: don’t chase savings

05:06 – $10K First Home Owner Grant

06:46 – First Home Guarantee updates

08:28 – Shared Home Ownership (Keystart)

11:13 – Strategy: pros & cons of shared equity

12:22 – Wrap up & next steps

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WA First Home Buyer Resource

First Home Owner Rate of Duty

Stamp Duty Calculator

First Home Owners Grant

First Home Guarantee Scheme

Opening Doors Shared Equity

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firsthomeunlocked.com.au

South Australia offers a range of incentives to help first home buyers reduce upfront costs and enter the market sooner, but knowing which ones actually support your long-term goals is key.

In this episode, Jack Elliott breaks down what’s available as of October 2025, including the state’s full stamp duty relief for new homes, the $15,000 First Home Owner Grant, updates to the First Home Guarantee Scheme, and South Australia’s own shared equity option through HomeStart Finance.

You’ll learn who’s eligible, how each incentive works, and where to think strategically about how these programs fit within your bigger plan, not just your short-term savings.

In this episode:

🔑 Full stamp duty relief on eligible new homes and land

🔑 $15,000 First Home Owner Grant explained

🔑 First Home Guarantee: Buy with 5% and pay no LMI

🔑 HomeStart Shared Equity Option overview

🔑 Strategy insights for choosing long-term value over short-term savings

Timestamps

00:00 – Intro: SA incentives overview

01:05 – Stamp duty relief explained

03:13 – Strategy: long-term focus

04:30 – $15K First Home Owner Grant

06:14 – First Home Guarantee update

07:43 – HomeStart Shared Equity Option

11:39 – Strategy: pros & cons

12:33 – Wrap up & next steps

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SA First Home Buyer Resource

Stamp Duty Relief

Stamp Duty Calculator

First Home Owners Grant

First Home Guarantee Scheme

HomeStart - Shared Equity Option

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firsthomeunlocked.com.au

The Northern Territory offers some of the most generous first home buyer incentives in Australia from full stamp duty exemptions for new builds, to grants worth up to $50,000. But understanding which ones truly support your long-term goals is key.

In this episode, Jack Elliott breaks down what’s available as of October 2025, including the House and Land Package Exemption, HomeGrown Territory Grants, the First Home Guarantee Scheme, and the HomeBuild Access shared equity program.

You’ll learn who’s eligible, how each incentive works, and how to think strategically about using these programs, so you can make decisions that build long-term flexibility and wealth, not just short-term savings.

In this episode:

🔑 Full stamp duty exemption for eligible house-and-land packages

🔑 $50,000 HomeGrown Territory Grant for new homes

🔑 First Home Guarantee Scheme — buy with 5% and pay no LMI

🔑 HomeBuild Access program — low-deposit and subsidised loan options

🔑 Strategy insights to help you focus on quality and long-term value

Timestamps

00:00 – Intro: NT incentives overview

00:50 – Stamp duty exemption explained

02:20 – Eligibility & key details

03:55 – Strategy: long-term thinking

05:05 – $50K HomeGrown Grant (new homes)

08:05 – Strategy: new vs established

09:20 – First Home Guarantee overview

10:45 – NT price caps & updates

12:10 – HomeBuild Access overview

13:35 – Low-deposit & subsidised loan options

17:30 – Strategy: shared equity pros & cons

18:25 – Wrap up & next steps

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NT First Home Buyer Resource

House & Land Package Exemption (HLPE)

Home Grown Territory Grant - New Homes

First Home Guarantee Scheme

HomeBuild Access Shared Equity Scheme

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firsthomeunlocked.com.au

Victoria offers a range of incentives to help first home buyers get into the market sooner, from full stamp duty exemptions to a $10,000 grant for new homes and major updates to the First Home Guarantee Scheme.

In this episode, Jack Elliott breaks down what’s available as of October 2025, who’s eligible, and how to think strategically about each option. You’ll learn how the concessions and schemes work, what to watch out for with off-the-plan purchases, and why long-term asset quality matters more than short-term savings.

In this episode:

🔑 Stamp duty exemptions and concessions explained

🔑 The $10,000 First Home Owner Grant in Victoria

🔑 Updates to the First Home Guarantee and October 2025 changes

🔑 Risks and benefits of off-the-plan purchases

🔑 Why strategy and asset quality should guide your decisions

Timestamps

00:00 – Intro: VIC incentives overview

00:55 – Stamp duty explained

01:47 – Full exemption & concessional rates

03:12 – Eligibility criteria & income caps

04:20 – Example breakdowns (up to $800K)

05:18 – Strategy: asset quality over savings

06:42 – $10K First Home Owner Grant explained

07:38 – What types of properties qualify

09:10 – Strategy: new vs established homes

09:56 – First Home Guarantee overview

10:40 – VIC price cap & income cap updates (Oct 2025)

12:05 – Combining incentives & trade-offs

14:02 – Long-term strategy & recap

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VIC First Home Buyer Resource

First Home Buyer Duty Exemption or Concession

Off the Plan Stamp Duty Concession

Stamp Duty Calculator

First Home Owners Grant

First Home Guarantee Scheme

Victorian Homebuyer Fund - Shared Equity Scheme

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firsthomeunlocked.com.au

Tasmania offers a mix of incentives that can help first home buyers cut upfront costs and get into the market sooner. From full stamp duty exemptions on established homes, to a $10,000 First Home Owner Grant for new builds, the First Home Guarantee with higher price caps, and the MyHome shared equity scheme, there’s a lot to weigh up.

In this episode, Jack Elliott walks you through what’s available in Tasmania as of October 2025, who’s eligible, and the key benefits and trade-offs to consider. You’ll also learn why long-term strategy and asset quality should guide your decisions, not just chasing the biggest discount.

In this episode:

🔑 How Tasmania’s stamp duty exemptions work for established homes under $750K

🔑 The $10,000 First Home Owner Grant explained (and what types of homes qualify)

🔑 Updates to the First Home Guarantee in TAS, with higher price caps from October 2025

🔑 How the MyHome shared equity scheme works, and its key trade-offs

🔑 Why focusing on strategy and asset quality will set you up better than short-term savings

Timestamps

00:00 – Intro: TAS incentives overview

01:50 – Stamp duty exemption under $750K

03:04 – Strategy: stretch beyond the cap?

04:22 – Example breakdowns ($750K vs $800K)

04:47 – Extra: off-the-plan concession

04:59 – $10K First Home Owner Grant explained

06:42 – Strategy: new ≠ always better

06:26 – First Home Guarantee (new price caps)

08:00 – MyHome Shared Equity Scheme

11:22 – Living with shared equity (rules & limits)

12:44 – Strategy: pros & cons of shared equity

13:37 – Wrap up & next steps

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TAS First Home Buyer Resource

First Home Buyers of Established Homes Duty Relief

First Home Owners Grant

MyHome Shared Equity Scheme

MyHome Shared Equity Scheme Income Limits

First Home Guarantee Scheme

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firsthomeunlocked.com.au