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The Federal Government has
extended the First Home Owners
Grant Scheme Boost for six
months from 1 July 2009 to 31
December 2009.
For
established homes,
customers must enter into
the contract no later
than 30 September 2009 to
receive the $7,000;
customers entering into a
contract from 1 October
2009 - 31 December 2009
will receive a $3,500
boost payment
For new
homes, customers must
enter into the contract
no later than 30
September 2009 to receive
the $14,000 and customers
entering into a contract
from 1 October 2009 – 31
December 2009 will
receive a $7,000 boost
payment.
There are
two eligible transactions
under the new home
scenario:
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For
construction loans where a
building contract has been
signed, building must
commence within 26 weeks
and the construction must
be completed within 18
months.
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For off the
plan purchases the contract
must be signed on or before
30 September 2009 to
receive the $14,000, on or
before 31 December 2009 to
receive the $7,000.
Construction work must be
completed on or before 31
March 2011.
The FHOB
will not be means-tested;
as well as no restriction
on purchase price or
construction cost of the
property.
For more information on
how
CPA Homeloans can
help with your first home loan
and the FHOB please contact us
on 02 8004
7950
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