In short: GNT Finance is a Glenroy mortgage broker based 25 minutes north in Mickleham, serving Glenroy's large Nepali and South Asian community in Nepali, Hindi and English. Glenroy offers 1950s houses, villa units and new townhouses within the first home buyer duty exemption and the First Home Guarantee, so we arrange low-deposit first home loans, refinances and investment loans, at no cost to you for our home-loan service in most cases.
Glenroy is one of the last suburbs inside the Ring Road where a first home buyer can still find a house with a backyard within the stamp duty exemption, and its Nepali community, one of the biggest in the inner north, has made it a natural home for GNT Finance clients.
Buying in Glenroy: what is different
Housing stock
Glenroy was built out in the 1950s and 1960s with brick-veneer and weatherboard homes on 500 to 650 square metre blocks, and much of that stock remains, from original condition to fully renovated. Villa units sit along the main roads, and townhouse developments have replaced hundreds of original homes over the last decade, especially near the station. Prices are among the more affordable inside the Ring Road, cheaper than Pascoe Vale and Essendon to the south.
Transport
Glenroy station, rebuilt with the Glenroy Road level crossing removal, is on the Craigieburn line about 25 minutes to the CBD. Pascoe Vale Road and the Western Ring Road give quick access to the Tullamarine Freeway and the airport. The CBD is about 13 kilometres, or 25 to 35 minutes by car.
Schools, shops and community
Glenroy College, Penola Catholic College and several primaries serve the suburb. Pascoe Vale Road is the shopping strip, and the Glenroy Hub, the Northern Golf Club and the Moonee Ponds Creek trail are the landmarks. Nepali grocers along Pascoe Vale Road reflect a community Gorakh Timilsina has worked with for years.
Loans and grants that matter in Glenroy
- First Home Guarantee: 5% deposit, no LMI, no income caps, $950,000 cap. Check the First Home Guarantee eligibility calculator.
- Stamp duty: full exemption at $600,000 or under, sliding concession to $750,000, covering most Glenroy villa units, townhouses and original houses.
- Borrowing power: many Glenroy buyers are close to the limit on servicing, and small changes, such as closing a credit card or paying out a car loan, can add tens of thousands to what you can borrow. Read how to improve borrowing power.
- Refinancing: owners of renovated homes bought in the 2010s often have loans well under 80% LVR and can access sharper rates. See refinancing.
Our first home buyer guide for Victoria sets out the whole process from savings to settlement.
Worked example: a Nepali couple buying a villa unit near the station
A couple, both Australian citizens, an accountant earning $85,000 and a childcare educator earning $58,000, buy a renovated two-bedroom villa unit in Glenroy for $575,000, with $40,000 saved and a $6,000 credit card limit they agree to close.
| Item | Amount |
|---|---|
| Land transfer duty | $0 (first home buyer exemption under $600,000) |
| Deposit under First Home Guarantee (5%) | $28,750 |
| Conveyancing, inspection, adjustments | about $3,000 |
| LMI | $0 |
| Loan | $546,250 |
| Repayment, for illustration at 6.00% p.a. over 30 years | about $3,275 per month |
Closing the credit card removed a notional expense from the lender's servicing calculation and lifted their approved borrowing enough to cover the price comfortably.
How GNT Finance helps Glenroy buyers
Our office at 23 Astbury Crescent, Mickleham is about 19 kilometres from Glenroy station, a 20 to 25 minute drive down the Hume Freeway or Pascoe Vale Road. Gorakh meets Glenroy clients at home, by video or at the office, in the evening if needed.
As a former senior credit officer, Gorakh knows the levers when a first home buyer falls short on servicing by a small margin: which lender accepts overtime at 100%, which counts a second job after three months, and how a gifted deposit is treated. Nepali-speaking clients can go through the whole process in Nepali; see our Nepali mortgage broker page.
Nearby suburbs we also serve
Glenroy sits between Broadmeadows and Coburg, with Essendon, Roxburgh Park, Tullamarine and Preston also close by.
Frequently asked questions
Can I buy a Glenroy house with a 5% deposit?
Yes, if you are an eligible first home buyer under the First Home Guarantee and the price is $950,000 or less. On a $650,000 Glenroy house that is a $32,500 deposit plus costs, with no LMI and a reduced stamp duty under the sliding concession. Original houses under $600,000 pay no duty at all.
Are Glenroy villa units a good first home?
They are one of the most affordable ways into a suburb inside the Ring Road with a train station. Check the owners corporation, the age of the roof and plumbing, and parking. Lenders treat villa units like houses, with no special restrictions.
Does a second job help my borrowing power?
Usually, once it has been held for three to six months and is paid through payslips. Casual second income is often shaded to 80% by lenders. Cash-in-hand work does not count. We help you time the application so your second income is counted rather than ignored.
Can I get a loan for a Glenroy townhouse that is still being built?
Yes, either as an off-the-plan purchase with the loan approved close to completion, or as a house-and-land arrangement if you buy the land and contract the build separately. A new townhouse under $750,000 attracts the $10,000 FHOG, and the off-the-plan duty concession applies until 20 October 2026.
Talk to GNT Finance
Glenroy is still within reach for first home buyers, and GNT Finance knows how to get you there. Call Gorakh on 0426 403 703 or Book a free consultation in Nepali, Hindi or English, at home, by video or at our Mickleham office.
Written by Gorakh Timilsina
Founder, CEO & Senior Mortgage Consultant at GNT Finance. Gorakh started as a broker assistant, spent years as a senior credit officer assessing loan applications, and now helps Melbourne families get the right loan approved. English, Nepali and Hindi spoken.