Aussie first time buyers Grant eligibility.

[sueoc]

Hi,
Can you get this grant after permanent residency is aquired,if you have a property in the UK?

[kangomik]

i would say yes, it has nowt to do with property in UK

[HEAPS GOOD !!!]

Hi,
Can you get this grant after permanent residency is aquired,if you have a property in the UK?

As long as you have PR i think you qualify for it.....you can download the forms from the internet.....and depending on who you apply to for your mortgage you cannot use the $25K as a deposit you have to have had it in the bank for at least 3 months.

Hope this makes sense....:)

were waiting for an answer from the bank for our.....doin my head in it is :GEEK:

[cint&mark]

Hi - do you know if there is talk of this being extended beyond June? We are coming out in Aug and so will miss the deadline unfortunately....

[ShaunWilson]

The first time buyers grant has always applied, it's just they increased the amount for a while, i assume it will return to the normal level after June. To get it you have to have PR. If you have bought or built before PR, you have one year from date of purchase, or final date of completion when building to claim your grant. The best thing to do is call revenue SA and they will give you all the info.

Shaun

[cint&mark]

Thanks for that - i didn't realise there was always a first time buyers grant... that's good to know! Jacinta

[Bernie]

Hi Jacinta and Mark,
The grant was doubled from $7,000 to $14,000 for established homes until the end of June.
You never know they may extend it to stimulate the property market.
Every little helps!

[kangomik]

there's an extra 4K on that in SA taking it to 18K if you buy under 400K
Then the 4 K disappears on a sliding scale up to 450K

25K and more can be gained from building new, the extra comming from the "incentives" and "freebies" offered by the builders.

Some say the grant will stay at current levels, some say just the SA top up will be taken off, Some reckon it will drop to the old levels, and one or two think that too much money has come out of canberra and it should be cut altogether.
Which ever way it goes one thing is known. The building trade, and buyers would like to know sooner rather than later.

Ahh well theres another 900 comming on monday for the bank!

[Andrew Williams]

Hi, Just to clarify.

You can claim for the grant once permanent residency is gained, it does not matter whether you have had or still own property in the UK. It goes on whether you have owned property in Australia before.

Also for temporary residents who have bought or entered in to a build contract, if permanent residency is gained within 12 months you can then apply for the grant and it will be backdated, of course you will only get what the grant value was at that time.

With regards to using it as a deposit, this can be done but most Banks also wish to evidence that somebody has got 3% - 5% in genuine savings in addition.

Most Banks have tightened their lending policies recently, with CBA for example who now lend less to new customers who have not got other credit products with them.

There is still a lender out there that will do 100% but it is only if there is a very strong case!

I think that the boosted grant will be extended personally as it is keeping the market moving, however this is just my opinion.

Heaps Good, if you have trouble with your Bank feel free to contact me as I may be able to find alternative lenders that will look at you.

Hope this helps.


Regards

Andy

[KP Nuts]

Hi, Just to clarify.

You can claim for the grant once permanent residency is gained, it does not matter whether you have had or still own property in the UK. It goes on whether you have owned property in Australia before.

Also for temporary residents who have bought or entered in to a build contract, if permanent residency is gained within 12 months you can then apply for the grant and it will be backdated, of course you will only get what the grant value was at that time.

With regards to using it as a deposit, this can be done but most Banks also wish to evidence that somebody has got 3% in genuine savings in addition.

Most Banks have tightened their lending policies recently, with CBA for example they now will only lend up to 85% for new customers but will go higher if somebody has got other credit products with them.

There is still a lender out there that will do 100% but it is only if there is a very strong case!

I think that the boosted grant will be extended personally as it is keeping the market moving, however this is just my opinion.

Heaps Good, if you have trouble with your Bank feel free to contact me as I may be able to find alternative lenders that will look at you.

Hope this helps.


Regards

Andy

Thanks Andy, so glad you posted that, I was getting worried, lol.............