At some stage, every borrower is a home buyer for the first time and in most cases they are young people. The normal lending criteria applies to first home owners.

E.g. A maximum of 80% of the property value can be borrowed without the requirement of Lenders Mortgage Insurance.

It is quite common for first home buyers to borrow more than 80% of the property value simply because they have not saved a substantial deposit.

The First Home Owners Grant (FHOG) is available for first home owners. Under this scheme, new home buyers may be entitled to a grant towards buying or building of their new home.