First Home Unlocked
First Home Unlocked
Podcast Description
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.
Podcast Insights
Content Themes
The podcast focuses on key aspects of the home buying process, including strategic timing for engaging with brokers, setting personal property visions, and understanding loan strategies. Episodes delve into topics such as why it's crucial to discuss your needs early with a broker, the importance of establishing a long-term vision for property ownership, and overcoming the confusion of first-time buying with practical advice.
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.
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
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Disclaimer
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