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First Time Buyers in QLD

First Time Buyers in QLD

Old May 29th 2006, 1:19 am
  #1  
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Default First Time Buyers in QLD

Hello All,

I'm just after some clarification as I seem to be getting 2 stories (one from solicitor and one from mortgage broker) on how much I should have paid as a first time buyer here in Queensland.

On a purchase price of $375,000 I have been charged the following;

Mortgage Stamp Duty = $1,456
Property Stamp Duty = $4,325

I'm expecting a rebate of $400 now we have settled but have also been told the MSD should only be $456??

Can anyone clarify ? Thanks.
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Old May 29th 2006, 1:40 am
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Default Re: First Time Buyers in QLD

Depends on your loan amount....

http://www.infochoice.com.au/banking...stamp-duty.asp

If your loan was only $184K then it should be $456. You'd have to borrow $434K for MSD to be $1,456.

Originally Posted by Plug
Hello All,

I'm just after some clarification as I seem to be getting 2 stories (one from solicitor and one from mortgage broker) on how much I should have paid as a first time buyer here in Queensland.

On a purchase price of $375,000 I have been charged the following;

Mortgage Stamp Duty = $1,456
Property Stamp Duty = $4,325

I'm expecting a rebate of $400 now we have settled but have also been told the MSD should only be $456??

Can anyone clarify ? Thanks.

Last edited by brisnick; May 29th 2006 at 1:45 am.
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Old May 29th 2006, 1:50 am
  #3  
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Default Re: First Time Buyers in QLD

Thanks for that, just to clarify, loan amount was for $364k
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Old May 29th 2006, 1:51 am
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Default Re: First Time Buyers in QLD

Originally Posted by Plug
Hello All,

I'm just after some clarification as I seem to be getting 2 stories (one from solicitor and one from mortgage broker) on how much I should have paid as a first time buyer here in Queensland.

On a purchase price of $375,000 I have been charged the following;

Mortgage Stamp Duty = $1,456
Property Stamp Duty = $4,325

I'm expecting a rebate of $400 now we have settled but have also been told the MSD should only be $456??

Can anyone clarify ? Thanks.
No idea, but don't forget to apply for the First Time Home Buyers grant - $7,000
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Old May 29th 2006, 2:54 am
  #5  
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Default Re: First Time Buyers in QLD

Hey Moneypen,

Yep, had that one covered!! Thanks anyway.
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Old May 29th 2006, 7:05 am
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Default Re: First Time Buyers in QLD

iya,
did you get an itemised bill?if so how much did the searches come to?did they add these together by mistake?your solicitor should clarify.

steve.....
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Old May 29th 2006, 10:26 am
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Default Re: First Time Buyers in QLD

On a purchase price of $450k, borrowing $350k we paid $7.5k total stamp duty. This was negated by the $7k first home owners grant. Searches were around the $500 mark and conveyancing was about $380
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