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 first buyer got a helping hand.

The First for Treasurer Andrew Fraser is set to help would be first 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 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 buyer around $9500 (on a $500,000 home).  This also means that if you are buying a 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  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 Graham Doessel.

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

Mortgage Now can be contacted on Tel: 1300 667 239

Related posts

You must be logged in to post a comment.

%d bloggers like this: