Mortgage Broker Australia First Home Owners Grant

Expatriate Home Loans are also First Home Owner specialists ensuring that Australian government grant and concessions are realised.

We aid communications to facilitate streamlining of the mortgage process.

The First Home Owner Grant (FHOG) scheme was introduced on 1 July 2000 to offset the effect of the GST on home ownership. It is a national scheme funded by the states and territories and administered under their own legislation. For NSW stamp duty concessions end 01 January 2012.

The broad principles of the grant are:

• Eligible applicants are entitled to a one-off AUD $7,000 payment.
• Eligible first home owners can receive the grant regardless of their income, the area in which they are planning to buy or build, or the value of their first home. The grant is not means tested and no tax is payable on it.
• Applicants must be Australian citizens or permanent residents, who are buying or building their first home in Australia.
• This grant can be paid to Australian citizens even if living abroad and using a Mortgage Broker within Australia.
• Within twelve months the owner must live in the property for a minimum continuous period of six months.
• Additional further conditions of the First Home Owners Grant exist and are dependent on personal circumstances.

Further advice can be provided following discussion with one of our Australian mortgage broker consultants.