First Home Unlocked

Jack Elliott
  • 5.0 (4)
  • HOW TO
  • UPDATED FORTNIGHTLY

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.

  1. 28 APR

    35 - Unlocking How Banks Assess PAYG, Overtime, Bonus & Allowance Income

    Income is one of the biggest drivers of your borrowing capacity, but banks don't just look at how much you earn. They look at how you earn it and depending on your situation, the same salary can produce very different results at different lenders. In this episode, Jack Elliott and Chris Bates go deeper into how banks assess different types of PAYG income. They break down what happens if you've recently changed jobs or you're still on probation, why overtime and allowances are treated differently depending on your industry, how commission and bonus income gets shaded by lenders, and what banks look for when you're working a second job or planning to go on parental leave. They also share a real example where choosing the right lender policy added $65,000 to a first home buyer's borrowing capacity, showing just how important lender choice can be. In this episode: 🔑 PAYG income and what happens if you've recently changed jobs or you're on probation 🔑 Overtime and allowances and why the lender you choose can make a big difference 🔑 Commission and bonus income and why the bank doesn't take the full amount 🔑 Second job income and what the banks are really looking for 🔑 Parental leave and what you need to have in place to move forward Timestamps 00:00 - PAYG Income - How Banks Assess it 01:50 - PAYG Requirements, Job Changes & Probation 06:50 - Overtime and Allowances 10:39 - Commission and Bonus Income 12:52 - Second Job Income 14:34 - Parental Leave: Can You Still Borrow? 15:51 - Wrap Up and Final Thoughts Unlock your Free Resources Download Your How Banks Assess PAYG, Overtime, Bonus & Allowance 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

    19 min

  2. 14 APR

    34 - Unlocking How Banks Decide What You Can Borrow as a First Home Buyer

    Borrowing capacity isn't just about your income, and it's not the same at every bank. Banks are also looking at your deposit, your debts, your spending, your credit history, and even the property you're buying to decide how much they're willing to lend you and how risky your loan looks to them. In this episode, Jack Elliott and Chris Bates walk through exactly what banks assess when you apply for a home loan. As well as banks looking at your income, we discuss how they look at your deposit and genuine savings, why credit card limits matter more than what you owe, how HECS debt actually impacts your borrowing capacity, and how the property itself can sometimes impact if you can even borrow at a certain lender. We also talk about the difference between what a bank will lend you and what's actually right for your situation, and why choosing the right lender from the start makes a big difference to your options now and into the future. In this episode: 🔑 What banks look at when they assess your borrowing capacity 🔑 How your income, deposit, debts and expenses all factor in 🔑 Why HECS debt is changing and what that means for first home buyers 🔑 The difference between what a bank will lend you and what's right for you 🔑 How choosing the right lender can make a big difference to your options Timestamps 00:00 - How Banks Assess You 01:38 - Assessing Your Income 04:37 - Assessing Your Deposit and Genuine Savings 08:11 - Assessing Liabilities: Credit Cards, Loans, HECS, BNPL 15:51 - Assessing Your Living Expenses and Bank Statements 19:52 - Credit History and Your Assessment 22:43 - How Banks Assess the Property 25:08 - Borrowing Capacity Summary and the Role of a Broker Unlock your Free Resources Download Your How Banks Decide What You Can Borrow 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

    30 min

  3. 31 MAR

    33 - Unlocking Rising Rates, Market Uncertainty and What It Means for First Home Buyers

    There's a lot happening right now. Another interest rate rise, global uncertainty, fuel and supply issues, and a federal budget just around the corner. If you're a first home buyer, you might be wondering what all of this actually means for you and your plans. In this market update episode, Jack Elliott and Chris Bates sit down to talk through what's going on in the market, what first home buyers are actually seeing, and most importantly, what you should focus on right now. We break down the practical impact of the latest interest rate rise on your repayments and borrowing capacity, talk through your options around fixing versus variable rates, and share a three step plan to help you move forward with clarity and confidence, no matter what the market is doing externally. In this episode: 🔑 What's actually happening in the market right now for first home buyers 🔑 The practical impact of the latest interest rate rise on repayments and borrowing capacity 🔑 Fixed versus variable rates and how to decide what suits your situation 🔑 A three step plan to help you focus on what you can control Timestamps 00:00 - What We're Seeing in the Market Right Now 06:57 - The Impact of the Rate Rise 09:54 - Should You Fix Your Rate? 13:17 - Your Three Step Action Plan Unlock your Free Resources Download Your Goals & Visions Workbook Download Your April 2026 Market Update Resource Mentioned Episodes: Episode 25 | Unlocking Interest Rates and Why They Move 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

    17 min

  4. 17 MAR

    32 - Unlocking How to Buy Strategically with a Gift, Inheritance or Large Deposit

    If you've saved a significant deposit, received a gift from family, or come into money through inheritance, you're in a strong position as a first home buyer. But having more cash doesn't automatically mean the best decision is to put it all into the property. In this episode, Jack Elliott and Chris Bates talk through the strategic options worth considering when you have a large deposit. We explore how to balance reducing your loan with keeping buffers in place, why your emergency fund matters, and how a bigger deposit might allow you to skip the stepping stone property altogether. We also talk about the professionals worth bringing into your corner, including buyer's agents and financial planners, and how a larger deposit opens up opportunities like buying properties that need renovation or having the option to buy higher quality assets. In this episode: 🔑 Whether to put all your deposit in or keep buffers aside 🔑 How to protect yourself after settlement with emergency funds 🔑 Why a large deposit might let you skip the stepping stone property 🔑 The value of buyer's agents and financial planners for first home buyers 🔑 How you could use your deposit strategically to get the best long-term outcome Timestamps 00:00 - Introduction 03:16 - Leaving Buffers & Why It’s Important 06:17 - Can You Look Beyond the Stepping Stone Mindset? 08:32 - The Importance of Asset Quality 11:26 - Build the Right Team Around You: Buyers Agents & Financial Planners 19:52 - Don't Let the Bigger Deposit Rush You Unlock your Free Resources Download Your Buying Strategically with a Gift, Inheritance or Large Deposit Resource Mentioned Episodes: Episode 6 | Unlocking Asset Quality: How to Choose the Right Property as a First Home Buyer 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

    23 min

  5. 3 MAR

    31 - Unlocking the Power of Offset & Redraw for First Home Buyers

    Understanding how offset accounts and redraw facilities work can save you thousands in interest and years off your home loan. But most first home buyers have never been taught the difference between them or how to use them strategically. In this episode, Jack Elliott and Chris Bates break down what an offset account actually is, how redraw works differently in the background, and why the choice between them matters, especially if your first home might become an investment property down the track. We walk through real examples showing how even small amounts sitting in offset or paid as extra repayments can make a huge difference over the life of a 30-year loan. We also talk about money psychology and how to choose the right structure based on your goals and how you manage money. In this episode: 🔑 What an offset account actually is and how it reduces interest 🔑 What a redraw facility is and how it works 🔑 The key differences between offset and redraw 🔑 How to use each strategically based on your goals 🔑 Real examples showing the impact of your offset account and extra repayments Timestamps 00:00 - Introduction to Offset & Redraw Episode 02:42 - What is an Offset Account? 04:28 - Impact of an Offset Account 09:10 - What is a Redaw? 12:59 - Offset vs Redraw: Key Differences and Strategy 16:11 - Money Psychology around Offset and Redraw 19:29 - The Power of Extra Repayments with Examples 23:23 - Episode Wrap up & Key Takeaways Unlock your Free Resources Download Your Offset & Redraw Resource Mentioned Episodes: Episode 21 | Unlocking How Your Mortgage Actually Works 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

    25 min

  6. 17 FEB

    30 - Unlocking How to Handle the Pressure of Buying Your First Home

    Buying your first home is a big decision, and it often comes with a lot of external pressure. Pressure from family, friends, media headlines, and sometimes even from yourself through comparison and the fear of missing out. In this episode, Jack Elliott and Chris Bates talk through the most common pressures first home buyers face and how to navigate them without feeling rushed or overwhelmed. We explore the "just get in" mindset and why buying without thinking about asset quality can create bigger issues later. We also address the fear of missing out, the pressure around rising property prices, and the idea that "rent money is dead money." Most importantly, we share practical tools to help you step back, get clear on your goals, and make decisions that actually support your vision and future. In this episode: 🔑 How to handle other people's opinions and conflicting advice 🔑 Why "just getting in" can be risky without focusing on asset quality 🔑 Navigating FOMO and the fear of being locked out of the market 🔑 The future self test: buying for where you want to be in 5-10 years 🔑 Why rent money isn't "dead money" and reframing the conversation Timestamps 00:00 - Introduction: First Home Buyer Pressures 02:30 - Handling Other People's Opinions 06:11 - The "Just Get In" Mindset and Why It's Risky 13:52 - FOMO and The Future Self Test 21:16 - The "Rent Money's Dead Money" Story 25:22 - Episode Wrap Up Unlock your Free Resources Download Your Goals & Visions Workbook Mentioned Episodes: Episode 25 | Unlocking Interest Rates and Why They Move 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

    27 min

  7. 11 FEB

    Bonus - Unlocking What the Rate Rise Means for First Home Buyers

    In early February 2026, there was an interest rate rise announced by the Reserve Bank of Australia (RBA). Jack Elliott and Chris Bates talk through what this actually means for first home buyers and how to respond without feeling rushed or pressured. We break down the practical impact of a rate rise on both monthly repayments and borrowing capacity, and share real examples so you can understand what this looks like in your situation. Most importantly, we talk about what you can control right now. You can't control interest rates or the market, but you can control getting a clear plan in place that suits your goals, your budget, and your life. In this episode: 🔑 What the interest rate rise means for first home buyers 🔑 The practical impact on monthly repayments and borrowing capacity 🔑 Why building buffers into your plan from the start matters 🔑 What to focus on right now and how to control what you can control 🔑 What Chris is seeing in the market after the rate rise Timestamps 00:00 - What First Home Buyers Should Do After a Rate Rise 07:47 - How a Rate Rise Affects Your Repayments and Borrowing Power 10:11 - What Chris is Seeing in the Market After the Rate Rise Unlock your Free Resources Download Your Goals & Visions Workbook Mentioned Episodes: Episode 25 | Unlocking Interest Rates and Why They Move 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

    15 min

  8. 3 FEB

    29 - Unlocking How to Buy Your First Home in 2026: Part 2

    If buying your first home is part of your plan for 2026, this two-part series is designed to give you a clear, step-by-step framework to follow. In Part 2, Jack Elliott and Chris Bates move into the action phase of the buying journey. This is what happens once you’re pre-approved and ready to start looking at properties. We walk through how to assess asset quality, what to look for at inspections, the due diligence every buyer should be doing, how to structure a strong offer, and what actually happens from formal approval through to settlement. This episode is about slowing things down just enough to make good decisions and move forward with clarity and confidence. In this episode: 🔑 How to assess asset quality and choose the right property 🔑 What to look for at inspections and the due diligence that matters 🔑 How to make a confident offer and protect yourself 🔑 What happens from formal approval through to settlement Timestamps 00:00 - Introduction to How to Buy Your First Home (Part 2) 03:27 - Step 6: Asset Quality 14:35 - Step 7: Property Inspections and Due Diligence 28:08 - Step 8: How to Make an Offer 38:42 - Step 9: Formal Approval & Settlement 32:10 - Wrap Up & We Are Here to Help You in 2026 Unlock your Free Resources How to Buy Your First Home Step By Step Resource Download your Asset Quality Checklist Get Your Unlocking Asset Quality Resource Get Your Making An Offer Resource Get Your Settlement Ready Guide Mentioned Episodes: Episode 6 | Unlocking Asset Quality: How to Choose the Right Property as a First Home Buyer Episode 7 | Unlocking Offers: How To Make a Confident Offer as a First Home Buyer Episode 8 | Unlocking Formal Approval & Settlement for First Home Buyers 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

    45 min
See All (37)

Ratings & Reviews

5
out of 5
4 Ratings

About

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.

Information

  • Creator
    Jack Elliott
  • Years Active
    2025 - 2026
  • Episodes
    37
  • Rating
    Clean
  • Copyright
    © Copyright 2026 Jack Elliott
  • Show Website
    First Home Unlocked

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