Rateseeker Business News Round-up October 2023
Check out the biggest news and the latest insights from across the finance and business sector.
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When buying your first place property whether to live in as an investment, you need to make sure you have certain things in order before putting down an offer. Determine the main purpose of buying a property – Are you buying to live in or to invest
- Work out where you stand financially to see if you can afford to make the loan repayments. This should be on top of how much you spend for your day to day living expenses. Our mortgage brokers can help work this out and see if you are ready
- Get a pre-approval from a lender
- Engaged a solicitor /conveyancer so you they are ready to review your Contract of Sale on the property you want to purchase
- Let the house hunting games begin!
Related FAQs
What Is The First Home Owners Grant?
The first home owners grant is a government grant developed to assist eligible first home owners to purchase a new home or build their home by offering a grant.
How Do I Apply For The First Home Owners Grant?
Applying for the First Home Owner Grant should be done at the same time as applying for your home loan. Our affiliated brokers will help with the application. You can also request an application from the office of state revenue directly.
How much is this First Home Owner Grant?
Each state has different rules and pays different grant amounts. The grant can vary from $5,000 in some states to $20,000 in others. In NSW, first home buyers purchasing a brand new first home will receive $10,000 first home owners grant up to a cost price of $750,000. States now require the property you purchase to be "brand new" to qualify for the first home owners grant.
If my partner & I are both eligible for the first home owners grant, do we get it twice?
No. When putting through an application, only one person in the application can be granted the FHOG. You also must make sure your partner hasn’t previously used or received the grant in Australia, as it may be denied.
Does Rateseeker help with investments home loans?
We sure do! Rateseeker has many major banks & non bank lenders to choose from to help achieve your property investment goals. Fill out our form and one of our affiliated brokers will get in touch with you to to work out how they can help.
