Urgent help requested on First Home Buyer Grant
 

Help! Just about to put pen to paper on a mortgage but it is conditional on First Home Buyer Grant.

I have previously owned a property in the UK but my wife hasn't owned anything anywhere.

We are still eligible for the grant - right?

Thanks!

Re: Urgent help requested on First Home Buyer Grant
 

You are eligible for the grant if you have never owned a property in AUSTRALIA.

Owning a property in the UK or anywhere else does not matter.

Hope that helps,
Mark.

Re: Urgent help requested on First Home Buyer Grant
 

yep, we were home owners in the UK but have only just bought our first Australian home and we were given it.
S xx

Re: Urgent help requested on First Home Buyer Grant
 

And also just to add that one of you has to be either an Australia citizen or permanent resident.

Re: Urgent help requested on First Home Buyer Grant
 

Thank you all! What did people do before the internet and the BE forum????

Moving to the Redlands in less then a month!

Hoorah!

Re: Urgent help requested on First Home Buyer Grant
 

Someone correct me if I'm wrong, but don't you have to be also resident in Australia to qualify?

Re: Urgent help requested on First Home Buyer Grant
 

That is correct... I assume he is moving from a rental in Australia.

Re: Urgent help requested on First Home Buyer Grant
 

As I said above, you have to be an Australian Citizen or have PR to qualify.

Re: Urgent help requested on First Home Buyer Grant
 

You can also get another $2000.00 if your house was under $400.000 as well..you dont get it in your hand but knocked off your mortgage..

Steve:D

Re: Urgent help requested on First Home Buyer Grant
 

I know but there are lots of people who have simply validated but don't actually live here. We're in the process of applying for mortgages, first homeowner grant, etc and had to show not only our PR visa but proof of residency.

Re: Urgent help requested on First Home Buyer Grant
 

Yes you are eligible for the First Home Buyers Grant however because you have owned a home before (anywhere in the world, not just Australia) you will have to pay stamp duty.

Re: Urgent help requested on First Home Buyer Grant
 

are you sure about that?, oh well, i've never owned a home anywhere in the world then if thats the case ;)

Re: Urgent help requested on First Home Buyer Grant
 

No you don't. We've owned property in Canada and won't have to pay stamp duty.

Re: Urgent help requested on First Home Buyer Grant
 

This is new to me. I'd thought stamp duty exemption is based on
the price of the property. In Queensland, property below $250,000
is exempt from stamp duty. :confused:

Re: Urgent help requested on First Home Buyer Grant
 

I will try to clear up the confusion...

The first home owners grant is a federal grant so is applicable nation wide. You are eligible if you have not owned a home in Australia only.

Stamp duty however is dictated at state level.

In QLD, for example, in order to qualify for the first home owners rate, the criteria extends to owning a property anywhere in the world.

However in WA, the criteria falls in line with the first home owners grant...i.e. in Australia only.

Each state is different in this regard.

Hope that helps,
Mark.

Re: Urgent help requested on First Home Buyer Grant
 

Yes you will have to pay stamp duty, this is a new law and was brought in in January 2007. My solictor said that they check with the UK to see if you have ever owned a home anywhere in the world!!!

Re: Urgent help requested on First Home Buyer Grant
 

Are you eligible for the FHBG if you are buying land with a view to building at a later date?

If so, do you put this towards the loan you have for your land, the subsequent loan you take out for the building of your home, or the construction loan (assuming you are taking out a home loan to cover both land & house)

Is there a threshold over which you are not entitled to the FHBG?

Cheers

Re: Urgent help requested on First Home Buyer Grant
 

1. There is no threshold.

2. You can not get the grant for land only. If you are getting a construction loan, then the timing of the loan is subject to your lender... ranging from the slab stage to the practical completion stage...

To put it another way...

You go out and buy some land... say put 20% deposit on it and finance the remaining 80%. You then go out and find a builder to build you a house on your new land. You arrange finance for the costs of the build. During this stage, (depending on your lender) you will get the grant.

If you buy a house and land package, then of course it is just one loan (which is staged) but the timing of the grant is still the same.

I hope that makes sense but if you still need any help just let me know.

Cheers,
Mark.

Re: Urgent help requested on First Home Buyer Grant
 

I just have another quick question on the same subject, so to save starting a new thread here goes - you don't qualify for the first time buyer grant if you are in Aus on aa 457 visa? or do you?

Re: Urgent help requested on First Home Buyer Grant
 

You only qualify if your are a citizen or permanent resident. As a 457 visa is a temporary long stay business visa (I think) then you will not qualify for the grant.

Cheers,
Mark.

Re: Urgent help requested on First Home Buyer Grant
 

Thanks Mark. Would have been a nice bonus if we could have claimed that. Nevermind!

Re: Urgent help requested on First Home Buyer Grant
 

Mark

Have you any idea of how the stamp duty works in Victoria? Would apprecite it if you knew and would tell me. If you don't know then thanks for at least reading this.

Trish

Re: Urgent help requested on First Home Buyer Grant
 

Try looking at http://www.sro.vic.gov.au/sro/SROWeb...duties_act.htm

Any specific questions and I will try and assist ;)

Cheers,
Mark.

Re: Urgent help requested on First Home Buyer Grant
 

fortunately im going to perth so i wont have to pay it :)

Re: Urgent help requested on First Home Buyer Grant
 

Thanks for that. I'll have a look now.

Trish

Re: Urgent help requested on First Home Buyer Grant
 

There are numerous other factors to consider which are not often discussed.

Any joint applicants must qualify in every way.
If anyone has had any previous ownership or "interest" in any property or land in Aus they do not qualify.
You must inhabit the property within 12 months and live there for a minimum 6 continuous months.
I believe you have 12 months from gaining title in which to claim the grant so buying whilst on a temp visa does not preclude obtaining the grant if you obtain PR within that year.

This related to QLD anyway.
Check the small print here.....

http://www.osr.qld.gov.au/fhog/index.shtml