First Home Buyers Now Set To Save An Extra $9500!

First Home Buyers Now Set To Save An Extra $9500!

Well its about time!

With all of the ‘hoo har’ going on with the budgets both Federally and on a state level, its about time the poor got a helping hand.

The First for Treasurer is set to help would be first home buyers with a reduction in the taxes they will have to pay.

From the first of July 2008,

  1. Mortgage Stamp duty will be abolished,
  2. The First Home Buyer transfer duty exemption threshold will be increased,
  3. The transfer duty rate schedule will be revised

These changes could see a saving to the first home buyer around $9500 (on a $500,000 home).  This also means that if you are buying a home under $500,000, that you will not have to pay one red cent in stamp duty to buy the home.

This saving could be well spent reducing their mortgage that little bit further and save thousands in interest over the term of the loan. 

Or it just may make the difference between being able to afford their new home and not being able to afford their new home.

Queensland also get a little relief with rebates on Water,  Gas and Power.

Good on you Mr. Fraser

This has been my comment, I am .

Now its time for a shameless plug:   If you are looking for a new home loan, or even to your existing home loan, Mortgage Now can help.  is no problem. 

can be contacted on Tel: 1300 667 239

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