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:: First Home Buyers

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THE FEDERAL GOVERNMENT HAS INCREASED THE FIRST HOME OWNERS GRANT TO $14,000 FOR THE PURCHASE OF ESTABLISHED PROPERTIES AND $21,000 FOR THE PURCHASE OF NEWLY COMPLETED PROPERTIES. THE INCREASED GRANT WILL BE AVAILABLE FOR CONTRACTS ENTERED INTO BETWEEN 14TH OCTOBER 2008 AND 30TH JUNE 2009

Buying your first home should be an exciting and satisfying experience and with a little knowledge and preparation there is no reason why it shouldn't be. There are a number of things to be aware of ranging from the various government benefits for first home buyers to understanding the requirements the various lenders place on you before they will give you a loan. Don’t be worried about the number of things to consider … that's what our service is for.

Our service at Shire First Mortgages costs you nothing (the various lenders pay our commissions) and we provide top quality professional assistance the whole way through the entire buying or refinancing process. Ask us about our Service Guarantee !

As a first home buyer, items you should consider include:

The First Home Owners Grant – $7000 grant provided by the federal government. For contracts signed between 14/10/2008 and 30/06/2009 the Government will increase this grant to $14,000 for the purchase of an established property and $21,000 for the purchase of a newly completed property.
Stamp Duty Exemption schemes – various schemes provided by the state governments
Deposits required – the amount of deposit you need to provide
Genuine savings – the amount of savings you need to evidence to the lender
Loan capacity – your capacity to borrow money from the various lenders as determined mainly by your income
Your repayments – what your loan repayments will be at various loan amounts.

Your Shire First Mortgages loan consultant can help guide you through all of these items. We will take care of all aspects of your First Home Owner's Grant and ensure the money is available at settlement of your property. For more information or a free consultation contact us today.

First home owners grant & Stamp Duty Exemptions

For full and up to date information click on Office of State Revenue.

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RESERVE BANK DROPS CASH RATE BY 0.75%

At its meeting on 4/11/08 the Reserve Bank decided to drop the official cash rate by 0.75%pa to 5.25%pa - the lowest rate since 2003. We will see a lot of activity in the market as banks decide how much of the rate cut they will pass on to their borrowers. If you would like to know what rates your bank is offering give us a call.

GOVERNMENT INCREASES FIRST HOME BUYERS GRANT

The Prime Minister has announced an increase to the First Home Buyers Grant from $7,000 to $14,000. A further $7,000 will be available to buyers who purchase a newly constructed home. To find out more and how we can help you apply for the grant call our office or go to our first home buyer's page.

CONGRATULATIONS TO ALL OUR WINNERS

Thanks to everyone who visited our stand at the Gymea Village Fair. Congratulations to all our winners. Full details in our next newsletter.

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