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  1. #21
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    Quote Originally Posted by CocktailBubba View Post
    Sorry I don't know how to multi-quote from my phone so I just thought I'd reply rather than just quote one person and post my reply in that..

    We went through a broker who offered to do this for us. Banks really don't like kids lol, even though we can afford out mortgage it was impossible to get a loan straight through a bank.
    We haven't done it this way to claim the FHOG twice though - I'm too paranoid to do so and I'd worry that I'd get caught, like someone else said, the few thousand isn't worth the risk.

    Also once you've been in a relationship with a person for a certain amount of time the law does recognise de facto relationships so 'if' we were to separate everything would still be split fairly, not that I think we would, or that he would try shaft me lol.
    It is 6 months anyway isn't it? That was my understanding if you have proof of paying for bills etc.. lol

  2. #22
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    Quote Originally Posted by monnie24 View Post
    With my XDP we were advised to do it only in his name for his first home buyers etc to make the most of it.

    When my DP & I just saw our mortgage broker he advised us on this too when I questioned him. He said if one person purchases a house then when your ready to buy your next investment to do it in my name. Maybe someone could show me some links on how it is illegal and why I would have to say i'm single? I am finding this confusing as we weren't advised this. Thanks!
    Go to the website that explains first home owners grants and check how you qualify. I'm not sure if there is a different website for each state.
    But I can garauntee, your broker is giving you the wrong information.
    Firstly, fhog aren't for rental properties or investments, you must live in teh house you purchase for a year to prove its your first home.
    Secondly, if you are living in the house your partner bought, while your a couple or even before, it's considered your first home. You are not renting, you are living in your own home.
    The fhog is 1 per household, you are a couple so you count as 1.
    IF you bought a house before you were together and lived in it etc. and got the 1st home owners grant, and he bought a house before he met you and got the grant etc. Its the only way you would have each gotten one. Now you are together you can't.
    The only way is to seperate, be seperated on centrelink/family allowance things because it's all government related and they will see it. And then you buy a house, live in it etc. on your own. And your partner lives in his house. Now for a few thousand dollars it's really not worth it, you will spend more doing this, have to live like your seperated, lie about not being a couple.
    it really makes no sense, if you were advised by someone to do this, find someone else, seriously, this person is an idiot.

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  4. #23
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    Default Rent or buy

    Quote Originally Posted by Someones Mummy View Post
    Go to the website that explains first home owners grants and check how you qualify. I'm not sure if there is a different website for each state.
    But I can garauntee, your broker is giving you the wrong information.
    Firstly, fhog aren't for rental properties or investments, you must live in teh house you purchase for a year to prove its your first home.
    Secondly, if you are living in the house your partner bought, while your a couple or even before, it's considered your first home. You are not renting, you are living in your own home.
    The fhog is 1 per household, you are a couple so you count as 1.
    IF you bought a house before you were together and lived in it etc. and got the 1st home owners grant, and he bought a house before he met you and got the grant etc. Its the only way you would have each gotten one. Now you are together you can't.
    The only way is to seperate, be seperated on centrelink/family allowance things because it's all government related and they will see it. And then you buy a house, live in it etc. on your own. And your partner lives in his house. Now for a few thousand dollars it's really not worth it, you will spend more doing this, have to live like your seperated, lie about not being a couple.
    it really makes no sense, if you were advised by someone to do this, find someone else, seriously, this person is an idiot.
    I'm receiving inheritance but not to clear til late this year so he said do fhog for dp, then by time the 'live' in stage runs out we would be able to buy in my name iykwim?! Ill have a look later on my phone. We have seen two brokers.

    Ps you have 12 months to apply for fhog so he suggested getting a investment loan then apply for it! Because you would qualify for more money if we wanted for our home.

    80% of people I know who do fhog would rent there houses out privately and send there mail there! (Something we are not going to do) but I know so many people that do it just like centrelink scammers.

  5. #24
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    We purchased our first home (at 23) a year or so before ttc however that was because I wanted all my financial ducks in a row before having children. We got the loan based on my husbands income alone so we knew that we could service the repayment regardless of babies/maternity leave etc.
    Personally I recommend if you choose to buy now that you do this or make sure you are not borrowing to your limit as it gives you some choice post-baby.

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    Default Rent or buy

    Yes you can get the loan as an investment and tell the bank that, but then if you apply for the grant, you will have to move in.
    If you then apply on your own for an investment, you can't get it again. You will need to show or sign a stat dec that your partner doesn't own a home or you've never lived in your own home, which y the sounds of it you will be.
    The people that lie and defraud the gov get caught, it'll catch up with them.
    Don't do that, you will end up paying back a lot more and get a criminal record, it's not worth it.

  7. #26
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    Im not going too! I'm on revenuesa now, doesn't seem to have much info except how much your eligible for. We might see a financial adviser instead. Thanks for your help

  8. #27
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    Quote Originally Posted by monnie24 View Post
    Im not going too! I'm on revenuesa now, doesn't seem to have much info except how much your eligible for. We might see a financial adviser instead. Thanks for your help
    It's right at the bottom of the page:
    What are the eligibility requirements?
    1. At least one of the applicants must be an Australian citizen or have permanent residency in Australia. New Zealand citizens permanently residing in Australia who hold Special Category Visas may also apply.
    2. The applicant(s) or their spouse(s)/domestic partner(s) must not have previously owned a residential property anywhere in Australia prior to 1 July 2000.
    3. The applicant(s) or their spouse(s)/domestic partner(s) must not have owned a residential property anywhere in Australia on or after 1 July 2000 and occupied that property continuously for six months or more.
    4. All applicants must occupy the home purchased or built as their principal place of residence for a continuous period of at least six months commencing within 12 months after completion of the eligible transaction.

      It is the responsibility of the applicant(s) to satisfy the Commissioner that they have meet the residency requirements. Applicants may be required to verify this later by providing documentation supporting their period of occupancy (e.g. electricity and gas accounts, bank statements, landline and/or mobile phone accounts and household contents insurance policies).

      Applicants who do not meet the residency requirements must contact RevenueSA in writing within 14 days of the date on which it first became apparent that the residency requirements would not be complied with, and repay the grant.
    5. Each applicant must be a natural person (i.e. not a trustee or company) except in the cases of legal disability.
    6. Each applicant must be at least 18 years of age at the time of making application for the FHOG.
    7. The property purchased has a market value of $575 000 or less.

      A property value cap applies to applicants who entered into a contract to purchase or build a home on or after 17 September 2010, or who commence construction as owner builders on or after 17 September 2010. The property value cap is $575 000 and applies to the market value of the property purchased or built.

      In the case of a contract to purchase a home the market value is:
    • the consideration for the purchase of the home; or
    • where the consideration is less than market value, the market value of the property.
    In the case of a comprehensive building contract the market value is:
    • the sum of the consideration for the building contract and the market value of the property on which the home is to be built as at the time the contract is made; or
    • where the consideration for the building contract is less than actual costs, the sum of the actual costs to build the home and the market value of the land on which the home is to be built as at the time the building contract is made.
    In the case of an owner builder the market value is:
    • the market value of the property on which the home is situated at the time the home is completed and ready for occupation as a place of residence.
    NOTE: in the cases of a genuine farm the market value of the property will be determined on the value of the home and curtilage area of that part of the land that is to constitute the site and curtilage of a home that is to be built on that site.

  9. #28
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    Default Rent or buy

    Quote Originally Posted by perthmumm View Post
    We have been looking at doing it this way too in a year or so!

    I don't want to offend or be negative, but people who are thinking of doing have to remember that it if you and you partner break up, you will not be entitled to the house (or it won't be sold and split 50/50 etc) (Our broker was explaining this to us... Lol a "risk" I'm willing to take!)
    Actually your broker is quite incorrect on this point. If living together even just as defacto for at least 6mths, any purchases during your time together (and even some purchased prior) you are absolutely entitled to a portion if you seperate - especially if you have kids together.

  10. #29
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    Default Rent or buy

    Yeah your broker seems v dodgy. If either you or your partner has owned a property before you aren't eligible for the FHOG - even if only one of you is on the title.

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    Default Rent or buy

    Quote Originally Posted by CocktailBubba View Post
    We bought in SE Melbourne this time last year with a 4yo an almost 1yo. I wasn't working and still am not with no plans to anytime soon. To do this we had to purchase in DP's name only with no dependants, even though we can easily make the repayments.
    Are the children DP's? If so, isn't it illegal or to disclose dependents? I don't know, just a genuine question.


 

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