Finance · Schemes
The schemes, and what they actually change
The 5% Deposit Scheme, the First Home Owner Grant, Victorian stamp duty concessions and Help to Buy — compared side by side.
as at 15 November 2026
General information only and not credit assistance. Estimates are not an offer, quote or approval. Lending is subject to lender approval, terms, fees and charges. Next Step Financing Pty Ltd (ABN 77 680 857 416, Australian Credit Licence 384704, Credit Representative 563367).
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What each one changes
The 5% Deposit Scheme changes your deposit requirement by guaranteeing part of the loan. The First Home Owner Grant puts cash in your hand for a new home. The stamp duty concession reduces the upfront tax. Help to Buy reduces the mortgage by taking an equity share.
They are administered by different bodies with different eligibility tests, and they do not automatically combine. A buyer can be eligible for one and not another on the same purchase.
Sample settings used on this page are as at 15 November 2026. From 1 October 2025 the 5% Deposit Scheme removed income caps, made places unlimited and lifted price caps — sample caps of $950,000 for Melbourne and Geelong and $650,000 for regional Victoria.
Checklist before relying on a scheme
- Eligibility confirmed in writing
- Price within the relevant cap
- Lender participates in the scheme
- Timing fits your settlement date
Side by side
| Scheme | What it does | Sample setting |
|---|---|---|
| 5% Deposit Scheme | Government guarantee so eligible buyers avoid LMI with a 5% deposit | $950k Melbourne/Geelong, $650k regional (sample) |
| First Home Owner Grant | One-off payment for eligible new homes | $10,000 sample amount |
| Stamp duty concession | Reduces land transfer duty for eligible first-home buyers | Thresholds phase out with price |
| Help to Buy | Government takes an equity share, reducing the loan | Eligibility and share set by program rules |
as at 15 November 2026
Sample settings only. Eligibility is determined by the scheme administrator and the lender, and rules change.
How the application works
- We check eligibility against your income, deposit and target price
- The lender confirms participation before the application is submitted
- The grant is typically applied for through your conveyancer at settlement
- The concession is calculated by your conveyancer on the contract
- Help to Buy is assessed separately and may affect lender choice
as at 15 November 2026
General information only and not credit assistance. Estimates are not an offer, quote or approval. Lending is subject to lender approval, terms, fees and charges. Next Step Financing Pty Ltd (ABN 77 680 857 416, Australian Credit Licence 384704, Credit Representative 563367). Scheme settings are sample information as at 15 November 2026 and should be verified with the administering body.
How a referral between businesses works
When the right next step sits with another business in the group, we ask you first. You decide whether the introduction happens.
- Client consent first — nothing about you is shared with another business without your agreement.
- Each business advises only within its own licence. IR Property does not give tax or credit advice, GBS advises on tax and accounting only, and Next Step Financing provides credit assistance only.
- Any referral fee, commission or benefit paid between businesses in the group is disclosed to you before you engage.
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