Been told that you need to save up thousands
of dollars which could take you too long to save up?
Paying rent, struggling to save a deposit or costs
to buy a home of your own while watching house prices increase?
Feel like you will have to buy a property that really
doesn’t suit you, or buy in a suburb that you really
don’t want to live in?
Lucky you came to Lifesaver!
There are many options available to get you into
a home now.
- Borrow 100% of the purchase price at much lower
than standard bank interest rates.
or
- Borrow 100% of the purchase price with little
or no cash at all.
or
- Take out a personal loan with your Home Loan
to cover deposit and/or costs.
or
- Take advantage of a supportive family member
willing to help you get started.
Everyone’s situation is unique. One, or a
combination of the above, could see qualifying to buy your
own home immediately.
Call Lifesaver now and we can tailor a solution for
you.
WHAT IS THE FIRST HOME OWNER GRANT?
The First Home Owner Grant (FHOG) was a Federal Government
scheme established to offset the effect of the GST on home
ownership by providing a grant to first homeowners.
The FHOG scheme came into effect on 1 July 2000 and is
an on-going scheme with no end date yet specified.
The FHOG is not means-tested nor is it restricted by the purchase
price of the property. A contract to purchase an existing home
or to build a new home must be signed on or after 1 July 2000.
Many FHOG applicants may also qualify for various State
Government grants and subsidies. The terms and conditions
of such grants will vary dependent upon current State legislation
and applicants should contact Lifesaver Home Loans a for
a current update.
ARE YOU ELIGIBLE?
To be eligible to receive the FHOG, the following
eligibility criteria must be satisfied:
- Each applicant and their partner must not have
received a grant under a First Home Owner Grant
Act 2000, in any State or Territory of Australia;
- Each applicant and their partner must not have
owned residential property, either jointly, separately
or with some other person prior to 1 July 2000,
in any State or Territory of Australia;
- Each applicant and their partner must not have
owned and occupied a residential property, either
jointly, separately or with some other person on
or after 1 July 2000, in any State or Territory
of Australia;
- Each applicant must be a natural person (not
a company);
From 1 January 2004, each applicant must be at
least 18 years of age at the time of settlement
or completion of construction of the home
Note: The Commissioner may exempt
an applicant from this requirement if satisfied that
the home will be occupied, as the applicant's principal
place of residence and the application does not form
part of a scheme to circumvent eligibility or entitlement
requirements.
- At least one applicant for the grant must be a permanent
resident or Australian citizen at the time of settlement
or completion of construction of the home.
Note: A permanent resident includes
the holder of a permanent visa under section 30(1)
of the Migration Act 1958. New Zealand citizens
holding a special category visa under section 32
of the Migration Act 1958 also satisfy this requirement.
- From 1 January 2004, at least one applicant must
occupy the home as his or her principal place of
residence for a continuous period of at least 6 months
commencing within 12 months of either settlement
or completion of construction.
Note: The Commissioner may approve
a lesser period if satisfied that there are good
reasons why the applicant cannot comply with the
6-month requirement. The Commissioner also has discretion
to extend the 12-month period if satisfied that the
applicant cannot occupy the home within 12 months
of settlement or completion of construction due to
circumstances that were unforeseen and beyond the
control of the applicant. |
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