Deposit, Legal Fees and Stamp Duty
With any property purchase the ‘rule of thumb’ is to have a minimum deposit of 10%. For example purchasing an existing property for $300,000, buyer will need 5% deposit and 5% to cover stamp duty and other costs.
First Home Owner Grant for Buying or Building a Brand New Residence
As part of the 2017-18 State Budget the Tasmanian Government has extended the $20,000 First Home Owner Grant for one year, from 1 July 2017 to 30 June 2018.
The First Home Owner Grant is a one-off payment for eligible applicants who buy or build a new home, where the transaction meets certain eligibility criteria.
The extension will mean that the increased $20,000 payment will be available for eligible transactions entered in to up until and including 30 June 2018. For eligible transactions entered from 1 July 2018 onwards (or for eligible transactions that do not the requirements for the increased grant), the grant amount is $10,000
Applying for the First Home Owners Grant
If you meet the necessary criteria, I will complete forms and apply on your behalf. That’s all part of the service at Mortgage World Finance.