I want to buy my first home
Buying your first home is one of life's most exciting experiences - here's how to make sure the process runs smoothly.
Family Pledge Home Loan
Interest Rate
5.94
%
p.a.
Comparison rate
5.95
%^
p.a.
#Discount variable rate, owner occupied, principal and interest
Get into the property market sooner with help from your parents or a family member and our Great Rate Home Loan.
What is a family pledge home loan?
A family pledge or family guarantee home loan is where you can borrow up to 110% of the property value by asking your family to guarantee the home loan by using their property as security on your mortgage.
Why should I apply for a family pledge home loan?
No deposit required
Waived Lenders Mortgage Insurance (LMI)
Borrow up to 110% of the property value
Limit the size of your guarantee
Here's how Allan and Ash bought their first home
Even though they’re young, Ash and Allan have an eye focused on the future.
Looking around the Maitland area to buy their first home, they realized they couldn’t quite afford the deposit.
But with a bit of help from Allan’s dad and by using our Family Pledge loan they now live in their own home with their baby daughter.
Calculate your Repayments
How we can help
What is a family pledge loan?
Looking for your first home loan, but are having trouble saving for your deposit? A guarantor loan may be right for you.
I want to access the first home buyers grant
Answer three questions to see whether you're eligible for a first home buyer grant in your state.
Our Awards
Important details:
*Conditions, fees and charges apply to all loans. Subject to meeting Greater Bank's lending criteria.
Greater Bank, part of Newcastle Greater Mutual Group Ltd ACN 087 651 992 Australian Financial Services Licence/Australian credit licence 238273
++ $2,000 cashback for loans ≥$250,000 with LVR of less than or equal to 80%, or $3,000 cashback for loans ≥$500,000 with LVR of less than or equal to 80%,. Applications must be submitted by 31/05/2024 and funded by 31/08/2024. Only one (1) Cashback Payment per eligible loan, and for first eligible loan only. Not available in conjunction with any other promotional payment. Offer may be varied or withdrawn at any time. See the full Cashback Offer Terms and Conditions. Terms, conditions, fees, charges and credit criteria apply.
~At the end of the fixed rate period customers can choose to re-fix their loan for another fixed rate period or let the loan revert to the applicable variable interest rate based on the loan and repayment type.
^Comparison rate is based on $150,000 over 25 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
#Discounted rates include a discount on Home Loans of $150,000 or over and for owner occupied Home Loans with an LVR 80% or below and for investment Home Loan with an LVR 80% or below and apply to new borrowings only. Discounted rate not available for Line of Credit facilities.
+ Additional costs may apply to fixed rate loans.
All new interest only home loans, attract a 0.10% p.a. margin above the applicable Principal and Interest base rate. All new Line of Credit home loans, attract a 0.10% p.a. margin above the applicable Line of Credit base rate. The all up interest rate which includes any margins, will be set out in your credit contract.
View our Terms and Conditions.