Buying property: home loans for shift workers

If you’re a first home buyer 

Getting into your first home sooner 

Saving for a deposit can feel like the biggest hurdle - especially with an irregular income. That’s why we offer flexible pathways that can help you enter the market sooner.

• You may be able to buy with as little as a 2%, if you’re an eligible single parent, or 5% deposit for eligible borrowers through government-backed schemes
• This can help you get into your first home sooner, without waiting years to save a full 20%
• Eligible members who may not qualify for the above government schemes or would like to apply for a home loan without going through the schemes, may also qualify for a home loan with as little as a 10% deposit and avoid paying for a Lenders Mortgage Insurance (LMI), reducing upfront costs.

We understand how you earn 

Your income doesn’t always fit a standard mould and that’s okay. 

• We assess your full earning picture, not just base salary
• Overtime, penalty rates and shift allowances may be considered
• Our approach reflects the reality of essential workers. 

If you already own a home 

Making your next move with confidence 

Whether you’re upgrading, refinancing or investing, your experience as a homeowner gives you more options but shift work can still be misunderstood by traditional lenders. At BankVic, we continue to support you with lending that recognises your full income and future goals. 

Unlock the value in your current home 

• Use equity in your existing property to help fund your next purchase 
• Reduce the need for a large upfront deposit 
• Potentially avoid LMI depending on your loan structure. 

A smarter way to manage your loan 

If your income includes overtime or fluctuates: 

• We can help structure your loan to align with your cash flow
• Take advantage of higher earning periods to pay down your loan faster
• Explore refinancing options that may reduce your interest or improve flexibility. 

A bank that works with you 

Shift workers keep our community moving and we’re here to support you at every stage of your property journey. 

Whether you're: 

• Saving for your first home with a 5% deposit, or are a single parent with a 2% deposit
• Leveraging equity to make your next move. 

We’ll help you find a solution that fits your life not the other way around. 

Ready to take the next step?   

Reach out to our BankVic Home Loan Mentors to help you find out how to maximise your overtime to get into your home sooner.  

We’re here to help   

If you have any questions about buying your first home, visit The Australian Government 5% Deposit Scheme or call 13 63 73 or Book appointment to make an appointment with a BankVic Home Loan Mentor.  

 

The information in this article was current as at the time of publication only. Information on our website about the Australian Government 5% Guarantee Scheme is general in nature. Whilst we have taken steps to ensure the information is accurate, we don’t guarantee it is complete and it should not be relied on as personal advice. All loan applications are subject to lending criteria and approval. Terms, conditions, fees and charges apply which are available upon request. Police Financial Services Limited ABN 33 087 651 661 - trading as BankVic | AFSL and Australian Credit License 240293.