We have recently moved to Qld and would like to buy our own home by Christmas. We have owned a home in NZ so I wanted to know whether we would be eligible for the stamp duty concession or not. From what I've read we ware eligible for the First Home Owners Grant, however the stamp duty concession wording can be quite open for interpretation. I also wanted to know more about Equity Finance Mortgages – pro's, cons etc and what to look out for. We don't think we could make the payments on a mortgage, of what we would need to borrow to get the basics of what we need in a long term home. Is an EFM a good prospect? Thanks.
Taddy
Check out the Qld OSR site which should make things a lot clearer with rgards to Stamp Duty
http://www.osr.qld.gov.au/index.shtml
I have completed around 6 EFM here in Qld so feel free to ask away on any particular questions you may have.
Richard Taylor | Australia's leading private lender
Kia ora
I own a IP in CHCH and I am eligible for the FHOG in NSW and stamp duty concessions, most lenders that I have spoken to choose not to include my NZ property in their calculations even though it s neg geared.
Property here is a lot more expensive but its all relative, I know noone here earning $14 an hour but half of the people I know at home do. Its hard to get your head around at first.
PM me if you want any more details.
If you have a full time job and a few grand in savings, maybe 5k, most lenders will bend over backwards to give you the money.Cheers,
Emma
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