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Stamp Duty Rebate For First Home Buyers

Transfer duties add considerable cost to the purchase of a property, which is why the Queensland Government has provided First Home Buyers a rebate on all or part of the cost of stamp duties.  Under this incentive, a First Home Buyer can receive a rebate o up to $8,750 if you are buying an established or new newly built home priced under $500,000.

The Government rebate also applies if you’re buying a block of land valued less than $250,000. Under this circumstance you are entitled to a rebate of $7,175 if you spend $249.999.

The amount you get in rebate differs depending on the price of the property you are buying up to a maximum of $550,000 at which point, the First Home Buyers Rebate cuts out and you will be pay the normal rate of stamp duties.

EXAMPLE

Properties valued up to $500,000 you qualify for a Rebate of $8,750 which is the maximum rebate available

Properties valued at between $500,000 to $550,000, you’ll pay some stamp duty but the reduction in costs is at a reduced rate. For example, a property valued at $ 505,000: the stamp duty you would normally pay is $8,925. With the rebate you would only pay $1,050 (a saving of $7,875);

Properties valued $550,000 or more do not qualify for a First Home Buyer Rebate.

FIRST HOME BUYER STAMP DUTY CONCESSIONS

Concessions exist in certain circumstances which either reduces the rate paid or eliminates it.

Where a property is left to a family member following death or where it changes names to an ex-spouse or partner as a result of a divorce, the transaction is exempt from paying Transfer Duty.

Concessions are also available for pensioners, carers and farmers, but vary between states and territory.

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We take the time to listen to your needs and then search the market for the best products that satisfies your needs at the lowest possible cost to you.

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We continue to work for you after the deal is finished, ensuring that we asess any new offers that become available which may improve your current deal.

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We give our clients access to Personal Loans, Home Loans, Investment Loans and Commercial Loans.  You always only deal with on person for all your lending services.

How We Work With Our Clients

We can meet clients in our office, in their home, their office or the local coffee shop. Our initial interview will helps us understand the clients needs in the short, medium and long term so that we can find the best possible lender for your loan.

The world of financing continues to be more and more complicated. Our Lenders have experience in finding the right product to meet the specific needs of each of our clients.  During this phase, we identify two to three options that may be suitable.

Our Lending Specialists will present to you a number of options available outlining  the differences, benefits and downfalls of each option presented. Our preferred option and reasons why, we consider this the best fit for you will be clearly explained.

Our Lending Specialists work with our clients to have all documentsation signed, submitted to the lending institution and processed through to approval.

We pride outselves on client service which is why our Lending Specialists establish a reasonable review timeframe where they touch base with our Clients to ensure everything is working as planned.  During this review, the client is made aware of any new financing options in the market.

Brisbane Home Loans is not about one off loans. We truly care about our clients, which is why we stand by their side beyond the completion of the loan.

What Does A Mortgage Broker Do

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Calculate How Much You Can Borrow
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