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First Home Unlocked

First Home Unlocked

By: Jack Elliott
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Buying your first home is a huge milestone, but it can also feel overwhelming, confusing, and full of pressure. First Home Unlocked is here to change that, and to help you reach your first home with clarity and confidence. Hosted by Jack Elliott, National First Home Buyer Specialist at Alcove, and Chris Bates, one of Australia’s top-ranked mortgage brokers, this podcast simplifies the home buying journey and empowers you with the keys to unlock your first home. Each episode is practical, clear, and designed specifically for first home buyers. From understanding the buying process to choosing a property that fits your long-term vision, Jack and Chris will guide you through every step with real conversations and expert support. You’re not in this alone. Hit subscribe and let’s unlock your first home together.Copyright 2026 Jack Elliott Economics Personal Finance Social Sciences
Episodes
  • 39 - Unlocking the Real Risk of Buying with a 5% Deposit and How to Protect Yourself

    39 - Unlocking the Real Risk of Buying with a 5% Deposit and How to Protect Yourself
    Jun 9 2026
    If you've been reading the news or scrolling through social media this week, you've probably seen some headlines about first home buyers using the 5% deposit scheme and something called negative equity. There is a real risk worth understanding. But for every first home buyer using this scheme, there's a clear strategy that goes with it.In this episode, Jack Elliott and Chris Bates address the headlines and talk through what negative equity actually is, when it really matters, and most importantly, how you protect yourself whether you're still planning to buy or you've already purchased using the scheme.We cover the five key things you can do to protect yourself going in, from knowing your numbers before you borrow to building your emergency fund, choosing quality assets, and getting your income protection sorted.In this episode:🔑 What the headlines are actually saying about negative equity🔑 What negative equity really is and when it matters🔑 How to work out what you can genuinely afford before you borrow🔑 Why building your emergency fund is critical with a 5% deposit🔑 The importance of asset quality and protecting your income🔑 What to do if you've already bought and are feeling anxiousIf you're planning to buy using the 5% deposit scheme and want to talk through your numbers, book a Get to Know You Chat with Jack.Timestamps00:00 - Should We Be Worried About the 5% Deposit Scheme?01:54 - What Headlines and Bank Economists Are Actually Saying03:52 - What Is Negative Equity and the Risk?06:53 - How to Protect Yourself as a First Home Buyer07:05 - #1 Do the Work on Your Numbers Before You Borrow10:18 - #2 Build Your Emergency Fund13:19 - #3 Know Your Goals and Play for the Long Term15:38 - #4 Do the Work on Asset Quality17:31 - #5 Get Insurance and Income Protection in Place20:28 - If You Lose Your Job21:46 - If You've Already Bought Using the Scheme Budgeting toolsSort Your Money Out Spending PlanPivot Wealth Savings Planner Moneysmart Budget PlannerResourcesGoals & Visions WorkbookAsset Quality ChecklistDownload Your How to Protect Yourself When Using the 5% Deposit Scheme ResourceMentioned EpisodesEpisode 1: Unlocking Your Goals and VisionEpisode 6: Unlocking Asset QualityEpisode 23: Unlocking Loan to Value RatioEpisode 25: Unlocking Interest Rates and Why They MoveEpisode 31: Unlocking Offset AccountsEpisode 37: Unlocking the 2026 Federal BudgetWant to keep the conversation going? 👉 Join the First Home Unlocked Facebook Community📅 Book a chat with Jack for tailored support📱Follow Us on social media: Instagram, TikTok, Youtubefirsthomeunlocked.com.au
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    25 mins
  • 38 - Unlocking How Banks Assess Self Employed Income

    38 - Unlocking How Banks Assess Self Employed Income
    May 26 2026

    If you're self-employed, banks will usually need more from you before they'll lend compared to a PAYG employee. Understanding what banks are looking for means you can present your income in the best possible way and set yourself up for success.

    In this episode, Jack Elliott and Chris Bates break down how banks assess self-employed income. We talk through the standard two year approach, why one year financials could significantly increase your borrowing capacity, what your options are if your ABN is less than two years old, and how the director wages pathway could change what you're able to borrow.

    We also cover the tension between tax minimisation and borrowing capacity, why speaking to a broker before you lodge your tax return matters, and how connecting your broker and accountant early can help you find the right balance between both.

    In this episode:

    🔑 How banks assess self-employed income using two years of financials

    🔑 Why one year financials could significantly increase your borrowing capacity

    🔑 What your options are if your ABN is less than two years old

    🔑 How the director wages pathway could change what you're able to borrow

    🔑 Why speaking to a broker before you lodge your tax return is so important

    Timestamps

    Timestamps

    00:00 - Budget Changes: What We're Seeing for First Home Buyers

    01:36 - Introduction to Self Employed Income Assessment

    04:09 - The Standard Two Year Approach

    04:41 - Balancing Tax Minimisation and Net Profit

    07:20 - One Year Financials Policy with Example

    09:18 - Protecting Yourself as a Self Employed Buyer

    12:07 - Director Wages Policy

    14:57 - What If Your ABN Is Less Than Two Years Old?

    17:36 - Business Debts and Addbacks

    19:41 - Getting the Best Outcomes as a Self Employed Buyer

    22:19 - The Tax Return Trap

    24:25 - Getting the Right Team Around You

    Free Resources

    Download Your How Banks Assess Self Employed Income Resource

    Want to keep the conversation going?

    👉 Join the First Home Unlocked Facebook Community

    📅 Book a chat with Jack for tailored support

    📱Follow Us on social media: Instagram, TikTok, Youtube

    firsthomeunlocked.com.au
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    26 mins
  • 37 - Unlocking the 2026 Federal Budget & What it Means for First Home Buyers

    37 - Unlocking the 2026 Federal Budget & What it Means for First Home Buyers
    May 14 2026

    The Federal Budget just changed the property market overnight, and the government is calling it a win for first home buyers. If you're a first home buyer, you're probably seeing a lot of headlines and wondering what it actually means for you and your plans.

    In this episode, Jack Elliott and Chris Bates break down the major budget announcements and what they mean for the property market. We talk through the changes to negative gearing and capital gains tax, how investors are likely to respond, what this means for house prices and competition, and most importantly what it all means for you as a first home buyer.

    Whether you're actively looking at properties right now, still in the planning stage, or you've recently purchased, this episode covers what you need to know and how to think about moving forward.

    In this episode:

    🔑 The major budget changes to negative gearing and capital gains tax

    🔑 How investors are likely to respond and what that means for competition

    🔑 Which types of properties and markets will feel these changes the most

    🔑 The tools and data you can use to check if an area is investor-heavy

    🔑 What first home buyers should be doing right now whether actively looking or still planning

    Timestamps

    00:00 - What the Federal Budget Means for First Home Buyers

    04:00 - What Was Actually Announced and Initial Thoughts

    08:11 - How Investors Will Respond

    11:31 - What It Means for First Home Buyers

    14:39 - Tools to Check Investor vs Owner Occupier Markets

    19:01 - What Happens to House Prices

    22:03 - Should Active Buyers Wait or Keep Going?

    24:09 - What Happens to Competition in the Market

    26:05 - Asset Quality and Property Selection Right Now

    33:10 - What It Means for the Rental Market

    38:12 - If You're Planning to Buy in the Future

    40:36 - The 5% Deposit Scheme and Help to Buy

    43:09 - If You've Already Purchased

    43:41 - Interest Rates and What Happens Next

    Free Resources

    Open Stats Tool - Property Data

    Census - Property Data

    Download Your Federal Budget 20206 Resource

    Mentioned Episodes:

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

    Episode 26 | Unlocking the Federal Government ‘Help to Buy’ Shared Equity Scheme

    Want to keep the conversation going?

    👉 Join the First Home Unlocked Facebook Community

    📅 Book a chat with Jack for tailored support

    📱Follow Us on social media: Instagram, TikTok, Youtube

    firsthomeunlocked.com.au
    Show More Show Less
    47 mins
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