Forum Replies Created
Hi xon,
While IO loan has its advantages, especially in term of tax benefits, let’s look at the other side of the coin.
What will happen if the property market takes a nosedive and prices fall by say 30%? Banks may recall the mortgages and require the borrowers to top up the 30% reduction in loan value. And the double whammy is you have to fork out more cash to compensate for lower rental income during a depressed property market.
Just a food for thought.
ashrick
Hi bennido,
I encountered problem when PM or Email you. Appreciate if you could email ([email protected]) me contact number and email address of your Hocking Stuart property manager.
Thanks.
Hi Simon,
Quote from one of FOHG criteria states:
“From 1 January 2004, at least one applicant must occupy the home as his or her principal place of residence for a continuous period of at least 6 months commencing within 12 months of either settlement or completion of construction.”1) All our investment properties were purchased after 1 July 2000 and we had never occupied any before. We plan to move into one of them in Jan 2005. As it is more than 12 months of settlement, are we eligible for FHOG?
2) If we are eligible, when is the earliest we can apply for FHOG?
i) Now,
ii) Jan 2005, or
iii) Upon occupying the home as our principal place of residence for a continuous period of at least 6 months?Thanks.
Hi Simon,
Quote from one of FOHG criteria states:
Each applicant and their partner must not have owned and occupied a residential property, either jointly, separately or with some other person on or after 1 July 2000, in any State or Territory of Australia;Does this mean as long as the applicants have not occupied their investment properties (can be more than one), which were purchased after 1 July 2000, they are still eligible for FHOG?
Thanks
My apologies for the ambiguity. The suburb I am looking at is Laverton.
