Aussie receives strong influx of inquiries following Home Builder Grant announcement

Media release

09 June 2020|3 minute read

 

Mortgage broker Aussie has received a strong influx of inquiries over the last week following the announcement of the Federal Government’s HomeBuilder program.

Calls to Aussie have doubled as customers seek to take advantage of or find out their eligibility for the $25,000 grant towards the cost of building or renovating their property by the end of 2020.

CEO of Aussie, Mr James Symond said, “We are seeing extraordinary demand from consumers for guidance from our brokers around the country to help them understand their options.

“Aussie Brokers are helping customers understand the conditions and timelines to take advantage of what is an important scheme to get the construction and property market – our largest asset class – moving again.

“It is important to get applications in quickly as demand for Homebuilder, which runs concurrently with State Government schemes, has seen close to half the limit of 27,000 applications already lodged”, he added.

Mr Symond said common questions from customers seeking a Homebuilder grant include:

  • Am I eligible for the grant including income thresholds and total value of renovations?
  • Can I access other state government grants or incentives to run in parallel?
  • Can I access my redraw facility and/or my offset account to finance the construction?
  • Are there savings to be made by switching to another loan to finance my renovation or build?

Aussie was already receiving many inquiries from customers seeking to take advantage of the lower mortgage rates now being rolled out by lenders, with fixed and variable mortgage rates now below 3 per cent.

The demand comes as Aussie’s research shows almost 70 per cent of Australian mortgage holders believe now is a good time to refinance their home loan, while almost 80 per cent of mortgage holders are confused about refinancing.

Aussie Brokers have access to a range of lenders and can provide home loan help for those looking to take advantage of the scheme. Customers can book a free appointment with an Aussie Brokers by calling 13 13 33.


 

About the Research

The research was commissioned by Aussie and conducted by Lonergan Research between 14 April 2020 and 21 April 2020, and in accordance with the ISO 20252 standard. The study was conducted with over 1,000 mortgage holders to uncover their attitudes and knowledge regarding refinancing their home loan. After interviewing, data was weighted to the latest population estimates sourced from the Australian Bureau of Statistics.

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