First Home Buyers
Buying your first home is one of the most important decisions in your life. Therefore, it’s very important that you work with an experienced mortgage broker who will guide you through the whole process to make sure everything will be going smoothly.
I make the home loan application process as smooth and easy as possible, so you can concentrate on finding the right home. As part of my service, I will help you to understand the types of home loans available to you and will assist you in choosing the right one for your situation. If you are eligible for the First Home Owners Grant or any state government first home buyer assistance, I will help you fill in the paperwork.
I will cover all of your questions to make sure you understand all aspects of your loan. Some of the common questions include:
- How much can I borrow?
- How much deposit do I need?
- Am I eligible for the First Home Owner Grant?
There are over 800 home loan products available from a wide panel of 30 banks and secured lenders – with their own offers and loan products. The loan that’s right for someone else may be completely wrong for you, that’s why it’s better to speak to me before you accept an offer from a big bank.
I will help you compare home loans to find the most competitive offer for your finance needs and unique lifestyle. Make sure you are prepared. One hour consultation with me will tell you: all costs associated with the purchase of your first home, how much you can borrow, which loan package is suited to your situation.
Most importantly, I will work closely with your solicitor, your real estate agents to make sure everything is going smoothly. I also follow up closely to make sure your First Home Owners Grant and other concessions will be available to you on settlement.
Reduction of stamp duty for first home buyers in Victoria
With the settlement date on or after 1 July 2011, land transfer duty is reduced for eligible first home buyers purchasing a principal place of residence (PPR) valued at not more than $600,000.
To be eligible for the stamp duty reduction, the first home buyer must have received or be entitled to receive the First Home Owner Grant and must also reside in the property for a continuous period of 12 months commencing within 12 months of settlement.
The duty reduction of 50 per cent will be phased in over four years, with a 20 per cent reduction on 1 July 2011, followed by additional 10 per cent reductions on 1 January 2013, 1 January 2014 and 1 September 2014.