No caps, no LMI, no waitlist — the new 5% deposit rules explained

In this short Wednesday bonus episode of the Australian Finance Podcast, hosts Gemma Mitchell and Owen Rask unpack the government’s newly expanded 5% Deposit Scheme — what it means for first home buyers, who’s eligible, and how it can help you get into the property market sooner. It’s a quick, practical breakdown of the key updates — no income caps, no property price limits, and no Lenders Mortgage Insurance — plus what to consider before jumping in.

Chapters (approximate)

(00:00) Introduction

(04:13) Understanding the Mechanics of Home Loans

(05:43) Implications of the 5% Deposit Scheme

(09:27) Eligibility and Application Process

(13:59) Market Reactions and Economic Impact

(16:34) Final Thoughts and Recommendations

Resources for this episode

Government Resources

Eligibility Tool

Pearler FHSSS information

Gemma’s book “The Money Reset”

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DISCLAIMER: This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser. Access The Rask Group's Financial Services Guide (FSG): https://www.rask.com.au/fsg

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