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AWA is introducing a new First Home Buyers Product

Our new First Home Buyers Product will include a special discounted interest rate, funding support towards the cost of conveyancing and funding support towards the cost of loan mortgage insurance. We envisage the new package helping many young homeowners enter the market ahead of their expectations. To kickstart the offering, AWA is extending the special discounted rate offer to any First Home Buyers who have purchased or built a home with them in the last 12 months.

The Government's First Home Buyers Scheme, launching on 1 January 2020 attempts to bridge the gap of affording a deposit. However, 110,000 Australians bought their first home in 2018. With a limited allocation of only 10,000, these grants will disappear quickly only catering to approximately 10% of the potential demand. To help bridge the gap between affordability and home ownership, AWA has introduced this new product to help.

'At AWA we want to play our part in assisting first home buyers to get into their new home,' AWA CEO Graeme Scannell explains. 'We also don't want to see people enter into lending arrangements that will negatively impact their long term financial wellbeing. We see addressing the issue of housing affordability as our social responsibility - to provide a safe pathway to help aspiring homeowners.'

AWA is leveraging their 50 years of experience in the lending space to break down the barriers for first home buyers.

Graeme explains, 'We have processes to minimize any lending risk for the borrower. The discounted rate, funding support and where applicable the inclusion of security guarantors helps bridge the affordability gap. It's not a new tactic, but once properly communicated it’s a clear win for everybody.'

If you or someone you know wants to own their first home sooner contact AWA on 1300 056 953 or email .

AWA Alliance Bank