First Home Buyers
West Corp Finance has an extensive panel of lenders that offer dozens of options for the First Home Owner. All of them have different policies on lending which allow us to tailor a lender just for your situation. Because of the regular changes in this market we recommend a chat with one of our consultants to make sure you have the correct information or alternatively just leave us your contact information and we'll call you to discuss your options in more detail.
"West Corp Finance are very aware that as a First Home Owner, this process can be confusing & sometimes overwhelming. We will go out of our way to make this as simple, clear & painless for you as possible."
West Corp Finance will also guide you through the correct completion of the First Home Owners Grant forms to help ensure you access the funds & benefits you are entitled to as a First Home Owner. Contact us now to have a copy of the FHOG application form emailed directly to you.
Am I eligible for the First Home Owners Grant?
- Are you a natural person over 18 years of age? (not a company or trust)
- Are you an Australian or New Zealand citizen or permanent resident?
- Have you or your spouse never previously owned a home either jointly or independently?
If you meet this basic criteria then you are likely eligible for the FHOG.
First Home Owners Grant (FHOG) - As of 1 Jan 2010 - What you need to know!
After 31 December 2009 the Federal Government has removed the FHOG Boost which has been in play recently.
After this point in time, eligible applicants entering into either a purchase or construction contract will be eligible for the $7,000 FHOG funds at settlement and receive the standard stamp duty discounts as detailed by the Office of State Revenue. In most cases, the stamp duty cost for this purchase will be naught, however if the purchase price of the home rises above $500,000 the discount reduces.
A similar rule applies to house and land packages which have no stamp duty applied until the purchase price of land reaches $300,000. At this stage the stamp duty discount reduces on a tiered system. The more expensive, the less discount.
Specific information can be obtained from West Corp Finance or directly from the Federal FHO website on: www.firsthome.gov.au
Finance pre-approval - The Smart Low Stress Option.
At no cost to you we can:
- 1. Check whether you fit the banks policies for lending
- 2. Give you the correct information on what the out of pocket cost will be for your purchase
- 3. Have the lender of your choice issue a pre-approval for finance
This way we have already done half the work when you place an offer to purchase. Your power to negotiate the price and reduce the timeframe for formal approval & settlement will work in your favour and should offer a smooth & painless transition into your new home.
Get Your pre-approval underway!
