Facilitating more than 76% of all home loans in Australia* and nearly 80% of first home buyers’ home loans^ under federal FHB schemes, mortgage brokers are central to the home ownership journey, particularly for first home buyers navigating an increasingly complex system of home buyer grants and incentives.
Recognising the integral role that brokers play in supporting home buyers and in particular helping first home buyers navigate the market, the MFAA has released a new Home Buying Schemes in Australia guide — a first-of-its-kind resource that brings together all state, territory and federal home buying schemes into one, easy-to-use reference for mortgage brokers and their clients.
“Helping clients understand what support is available — and how to access it — is a growing part of a broker’s value proposition,” said MFAA CEO Anja Pannek. “We’ve built this guide to ensure our members can do that with confidence, clarity and accuracy.”
The guide sets out each scheme’s purpose, eligibility requirements, benefits, and application pathways, with links to the most up-to-date government information. It will be updated regularly as policy settings change.
This initiative follows the MFAA’s submission to the 2024 Senate Inquiry into the Financial Regulatory Framework and Home Ownership, which called for government-backed schemes to be simplified and better integrated across jurisdictions. The MFAA also urged governments to work with mortgage brokers to raise awareness and improve accessibility for aspiring homeowners.
“Brokers are already helping thousands of Australians achieve home ownership every year — they are essential to bridging the gap between policy and people,” said Ms Pannek. “This guide is one more way we’re backing our members, while continuing to advocate for reform that improves outcomes for all home buyers.”
You can access the Home Buying Schemes in Australia guide here.
We invite members to share any feedback or suggestions for additional content by contacting policy@mfaa.com.au
*December 2024 quarterly market share (MFAA and Comparator)
^MFAA submission to the Inquiry into the Financial Regulatory Framework and Home Ownership, September 2024
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