Hi Everyone,
In the process of purchasing a property for the first time having to pay Stamp Duty.
I have heard that you can pay Stamp Duty in part payments interest free?
Reason why i ask this, is because if that is the case, i would rather put that money into my loan to lower my repayments.
I am a great big novice and my knowledge of Stamp Duty is close to nothing.
Can anyone please guide me through the process and options?
Thank you in advance.
Regards,
Sam
Hi Sam
Which state is this in? Is it a PPOR or IP?
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Hi Sam
A good source for reading up on 'payment arrangements' for Stamp Duty in NSW is available at:
http://www.osr.nsw.gov.au/lib/doc/forms/osr017a.pdf
However, as it says there, 'interest will be charged on all extended payment arrangements'.
Cheers, Paul
Paul Dobson | Vendor Finance Institute
http://www.vendorfinanceinstitute.com.au
Email Me | Phone MeAn alternative way to finance your home.
In NSW you have up to 3 months to pay stamp duty. But if you are borrowing then the lender won't settle until you have paid.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
NSW – investment property
Thanks Paul and Terry
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