This week the NSW Government announced this week that the stamp duty threshold on new homes for first home buyers has increased from $650,000 to $800,000.
The threshold also increases on vacant land from $350,000 to $400,000
This threshold will be in place for 12 months only from 1 August through to 31 July 2021.
These exemptions will apply for first home buyers purchasing vacant land or a new home. Above these thresholds, concessional stamp duty rates apply to new homes up to $1,000,000 and vacant land up to $500,000.
The team at Bribie Island Lending keep up to date with all changes to Home Loan schemes and can help you find the best lender for you.
We are based on the beautiful Queensland coast, between the Sunshine Coast & Brisbane and we offer a complimentary home loan broking service.
Make an appointment today for an obligation-free chat, to talk about what you need and how we can help.
*This article is general information only and does not constitute financial advice. Your personal circumstances will need to be assessed before any product or proposal is recommended. Mark Hind is an Authorised Credit Representative (ACR 519951) of Outsource Finance Pty Ltd, Australian Credit Licence 384324.
You've seen the ads a big, bold interest rate that looks incredibly competitive. But there's another number sitting quietly beside it that tells a very different story.
The RBA has lifted the cash rate to 4.35%, and most lenders are expected to pass it on. If you've got a mortgage in the Moreton Bay region, your repayments are likely going up.
When the Reserve Bank of Australia raises the cash rate, it can directly affect home loan interest rates and mortgage repayments.
Whether you're just starting to explore your options or ready to move Mark and the team are here to help. Get in touch for a no-obligation chat and find out what's possible for your situation.
