First Home Loan
Territory Loans
Suite 2/52 Hartley Street, Alice Springs | Phone (08) 8950 6333
Buying your first home can be both an exciting and stressful experience.  It’s a big decision which takes planning and research but this is where Angelique and Richard can help make the whole process easy and do all the hard work for you.

Here are some things to think about to help you get started:

  • Do you have a deposit?
  • Do you have a regular savings plan?
  • If you don’t have a deposit would your parents consider doing a family guarantee?
  • How much can you afford?

If you aren’t sure where to start make an appointment with Angelique or Richard and they can help you with a plan to help you get your first home.

First Home Buyer - Purchasing a New Home


You may be eligible for the FIRST HOME OWNER GRANT of $26,000 and a HOUSEHOLD GOODS GRANT of up to $2000.

The First Home Owner Grant is a $26,000 cash payment paid directly to eligible first home buyers of a new home.  To be eligible:
• each applicant and their spouse or de facto partner must never have held an interest in a residential property in Australia
• each applicant and their spouse or de facto partner must never have received a First Home Owner Grant in any state or territory
• each applicant will hold all their interest in the property in their own right and not as a part of a trust or company
• at least one applicant will be 18 year of age or more
• at least one applicant will occupy the home as their principal place of residence for at least 6 months beginning within 12 months of completion.

You will be able to apply for the grant if you are purchasing a new home, entering into a contract to build a home or are an owner-builder.

For properties where a contract was signed or foundations were laid on or after 1 July 2015, there is no minimum or maximum property value the property must be.

The Household Goods Grant was introduced on 1 October 2016 to assist first home buyers of new homes with a $2,000 grant to purchase household goods.

You can apply for the $2,000 grant if you:
• are a first home buyer of a new home and are eligible for the First Home Owners Grant, and
• entered into a contract to purchase or build the new home on or after 1 September 2016, or are an owner builder and commenced construction of the new home on or after 1 September 2016.

The household goods must be purchased for use by the applicant(s) in the home for which they were paid the First Home Owner Grant.

For full terms and conditions please visit FIRSTHOME.NT.GOV.AU

First Home Buyer - Purchasing an Established Home


You may be eligible for the FIRST HOME OWNER DISCOUNT, which provides a discount of up to $23,928.60 on the stamp duty payable, and a HOME RENOVATION GRANT of up to $10,000.

An established home is one that has been previously sold or occupied, and is able to be lawfully occupied as a place of residence.

From 1 September 2016, the First Home Owner Discount is a full stamp duty concession on the initial $500,000 value of the home for established homes valued at $650,000 or less.

For established homes valued at more than $650,000, a $10,000 First Home Owner Discount is available until 31 December 2016.

Where an applicant is eligible for more than one home incentive concession or grant, applicants will be entitled to the higher grant or concession amount only.

The $10,000 Home Renovation Grant can be used towards renovations and improvements to the home.  Up to $2,000 of the grant can be used towards the purchase of household goods.

There is no cap on the total value of renovations; however the maximum grant paid by the Northern Territory Government is $10,000.

In order to receive the Home Renovation Grant, you must use a local business.  A local business is one that has been operating in the Northern Territory for at least 6 month, has a permanent base here and employs Territorians.

If the local business doing the renovations wants to employ sub-contractors, they must also be local businesses.

You can use the grant with more than one business if they meet these conditions.

Owner-builder or do-it-yourself renovators are not eligible.

For full terms and conditions please visit FIRSTHOME.NT.GOV.AU

Do you know exactly where you stand, financially?

Are you aware of how much money passes through your hands each year?…..No? Well, here’s an exercise that will show you exactly what your current financial situation is.

Now, what you’re about to do, is make a list of all the things you spend money on throughout the year, so you’ll need to go to your filing cabinet, or wherever it is you keep your important documents and find all the insurance papers, copies of bills etc. from the previous year.

Begin to make a list of all the items you spend money on but also make note of how frequently you pay them. Some things you may spend money on weekly, like groceries. Others may be fortnightly like mortgage repayments. You might pay your phone bill monthly and insurance premiums are generally yearly.

So, let’s get started. The obvious ones are going to be mortgage repayments or rent, as perhaps your biggest expense as well as any other loans you might have. A car loan for example. And then you might think about Council Rates and/or Body Corporate Fees. Utilities – electricity, water, phone and internet. Credit card payments. And then there’s the cost of feeding and clothing yourself and your family. What about vehicle registrations, maintenance and fuel? And the many different insurances necessary if you want to be prepared for the ‘just in case’ scenarios – Vehicle Insurance, Life Insurance, Income Protection Insurance, Private Health Insurance, Home and Contents Insurance.  Your list will be quite long but here are a few questions to ask yourself as you add to your list:

Do you:
  • Have an AANT Membership
  • Have Ambulance Cover
  • Pay School Fees
  • Make Personal Contributions to your Superannuation Fund
  • Have health issues that need regular check-ups or treatments, e.g. physio, podiatry, chiropractic, massage, dentistry
  • Need a repeat script for medication
  • Need a new set of contact lenses every 3 or 4 months?
  • Have a sporting club/gym membership/personal training sessions
  • Play sport which requires fees/uniforms
  • Subscribe to a magazine or Austar
  • Make regular donations to charity
  • Smoke/drink regularly
  • Go to the movies/hire movies often
  • Get together with friends regularly for a few drinks at the pub
  • Buy your lunch everyday
  • Go out for dinner often
  • Buy coffee daily
  • Have regular beauty treatments/haircuts/styles
  • Buy skincare/hair care products

And lastly, if you already put money aside regularly for savings, also add this to your list.

Do you have a Christmas Saver Account? Add this to the list as well.

So now that you’ve made a list of absolutely everything you spend money on, calculate each item down to how often you get paid – weekly, fortnightly or monthly. For example, if you get paid weekly but you pay your Home and Contents Insurance yearly, divide your premium by 52. (Fortnightly, divide by 26 and monthly, divide by 12) Then add all these individual figures together, to get a total figure for the amount of money needed each time you get paid, to cover your cost of living.

Then take this figure away from how much you earn – weekly, fortnightly or monthly. For those of you who do regular overtime, and therefore your income is different each pay period, use an average earnings figure. For example, add up four weeks (or fortnights/months) of income, then divide it by four to get an average. It’s better to slightly underestimate your income than over estimate and be short.

 Is that final figure positive or negative?

So what has this exercise shown you? Are you living outside of your means by spending more than you earn? Are there expenses you can reduce to bring your finances back in line? Do you need to create a budget/limit for various categories, like groceries and entertainment?

Has this exercise shown you that you don’t spend as much as you thought you did, and therefore, save a good portion of your income? If so, well done.

The bottom line is, if you’re goal is to own a home or investment property, to refinance or to apply for a loan for any purpose, the lending institution wants to see a pattern of regular savings, as well as no defaults on repayments of current loans or rental payments.

So ask yourself, what are my financial goals, and are my current financial habits going to get me there?

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Richard Black (Credit Representative Number: 399502), Angelique Glasson (Credit Representative Number: 399501) and Kerry Thompson (Credit Representative Number: 486749)
are credit representatives of BLSSA Pty Ltd  ACN 117 651 760 (Australian Credit Licence Number: 391237)