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Buying your first home can be one of the most exciting things you’ll do. Before you get started, here’s a few things to think about.

Budgeting and saving

Before purchasing your new home, you’ll generally need a deposit of 5 -10% of the purchase price. The more you can save for your deposit, the more buying power you’ll have when it comes to choosing your property. It will also increase your chances of being eligible for a home loan. 

Whether you’re just starting to save for a deposit, or you’re making good progress with your saving, we can help you reach your goals with these handy budgeting tips.

  • Consider opening a Smart Saver Account. The Smart Saver is our high interest savings account that rewards you for growing your balance! You can earn great interest each month when you grow your balance by a set amount and don’t exceed the withdrawal limit within the same period. The account comes with Visa Debit card access so that you can access your savings when you need to, wherever Visa is accepted**. 
  • Or, if you prefer a little more flexibility with your savings account, our Online Savings Account might be right for you. This high interest personal savings account is designed to offer you maximum flexibility with no monthly account or transaction fees, and no requirement to make a minimum deposit. To earn high interest ensure all account owners have an Everyday Account, home loan or credit facility with us. Simply link the account to your Everyday Account and easily move your savings at any time using Internet or Mobile banking.

  • Take a look at your existing debts and come up with a plan to pay them off sooner. We can help you consolidate your debts to reduce interest and fees.
  • Cut back on things you don’t need or use – like memberships, takeaway food, or new clothes.
  • Create a weekly budget and stick to it. Our budget and saving calculators can help you work out how much you need to save each week to earn your deposit.
  • The Family Guarantee enables a family member such as your parents, to provide a guarantee to help get you into your own home sooner.
How much can you borrow?

Another thing to consider is working out how much you can borrow. This can help you set your goals for saving for a deposit. The amount you can borrow is determined by a number of factors including your income, your debts, living expenses and savings. If you’re buying a home with a partner, this amount will also take into account their current financial situation.

Find out how much you can borrow and start saving for that all important deposit!

Finding the right home loan

Working out what home loan is right for you is an important step to buying your first home. Before you decide on a loan, it’s worth thinking about what features are important to you. Like whether you want the security of a fixed home loan or the flexibility of a variable loan. Or whether you will need additional add-ons like offset and redraw facilities or the flexibility to make extra payments to pay your loan off sooner.

The right decision could potentially save you thousands over the life of your loan. 

We have a range of award-winning fixed and variable home loans to suit your individual needs. Use our comparison table, or come in and chat to our lending experts to help you find the right home loan for you.

Government benefits

If you’re a first homebuyer, you could be eligible for a range of helpful government benefits including the First Home Owner Grant (New Homes) scheme. 

To find out if you’re eligible, visit

We’re here to help

To find out more, drop into a branch for a chat today. Our friendly lending managers can walk you through the entire process and help you every step of the way.

Buying your first home

Reach your savings goals

With our Online Savings Account

Here's some information for you: