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What is the first home owners grant?

This information has been copied from the First Home Owners Grant Victoria Web site.

“The First Home Owner Grant (the grant) scheme was established to encourage and assist home ownership and to offset the effect of the GST on home ownership by providing a grant to first homeowners. The First Home Owner Grant Act 2000 (the Act) came into effect on 1 July 2000 and the grant is an on-going scheme with no end date yet specified.

The grant is not means-tested nor is it restricted by the price of the property. We administer the grant with the help of a number of banks and lending institutions that are approved agents.  The current amount payable is $7000.”

A Your Local Finance Mortgage Broker can assist with the application for the grant as part of your loan application process. Call Your Local Finance mortgage broker on 1300 787 665


 

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