any advice please

**april** · 03-02-2012, 08:20 PM

hello, we are planning our move to adelaide and looking at house prices do you need to pay stamp duty when you are buying your first house in oz any advice on buying and who to use for mortgages would be really appreciated thankyou x

**Andrew Williams** · 04-02-2012, 01:37 AM

Originally Posted by april

hello, we are planning our move to adelaide and looking at house prices do you need to pay stamp duty when you are buying your first house in oz any advice on buying and who to use for mortgages would be really appreciated thankyou x

Hi April

Yes stamp duty is payable on the purchase of property here is Australia, this actually varies state by state.

As an example costs associated with buying a property valued at $350,000 would be approximately $16,300.

You may be eligible for the First Home Owners Grant of $7,000 if you are a permanent resident, this can mitigate the costs slightly.

In relation to who to use for a mortgage, that will depend on your individual circumstances as it might be a case of who will lend to you rather than who you want to go with especially if looking to buy quite soon after arriving.

A lot of factors will need to be considered to assess which lender might be the most apporpriate, for instance visa type, deposit, income, liabilities, employment situation etc.

Also there may be extra costs to bear in mind if your deposit is less than 20% as a lenders mortgage insurance (LMI) premium will be payable which is similar to the high percentage loan fee (HPLF) in the UK.

Hope this helps,

Andy

**sharons dream** · 04-02-2012, 05:38 AM

april?????? is this wayne and rachel are yo coming back out. i hope so it will be lovely to see you x

**Lol63** · 04-02-2012, 07:00 AM

We didn't pay stamp duty on our first property we bought, and also got $7000 FHG saved us around $16000 altogether.

**april** · 04-02-2012, 08:15 AM

thankyou andy we really appreciate your advice

**april** · 04-02-2012, 08:17 AM

to sharon/andy yes it is us how are you settling in xx

**sharons dream** · 04-02-2012, 08:29 AM

hi guys where about are you thinking of moving to? we are in christies beach. really happy you are coming back we will have to catch up when are you thinking of flying out ?

**april** · 04-02-2012, 07:59 PM

Originally Posted by april

to sharon/andy yes it is us how are you settling in xx

sharon /andy hi we not sure yet got to see how the house goes glad you are enjoying it are lauren and harvey having good time at the beach april loved it xx

**Andrew Family** · 13-02-2012, 08:42 PM

Can I just check - on your first property purchase is it only if you hold a permenant visa that you do not pay the Stamp Duty and the FHOG ($7000)? In other words would we have the same benefits on a tempory visa?

**Lol63** · 13-02-2012, 09:45 PM

Did a check, you have to pay stamp duty in South Australia, we bought our first house in NSW no stamp duty on properties under $500. We had permanent visa, so cannot help you with that, but do know if you buy a brand new property the FHOG is double. Gollywobbler may be able to help regarding the temp visa as she is considered the font of all knowledge....do a quick search and drop her a pm. xx