[maroon]
I was wondering whether anyone out there had any experience with FHOG and FHP scheme that could help in my situation.
[confused2]
I know the basic rules with respect to FHOG and First Home Plus (NSW), but is slightly unclear for my situation.I have one investment property acquired prior to July 2000, and wish to purchase a second one in NSW, where my mother in law will live. She has never owned a home before and would therefore be entitled to both the FHOG and FHP.
My wife has never owned a property before either, although this insignificant from what I can tell.
For the FHP scheme, http://www.osr.nsw.gov.au fact sheets say that if I have an interest in the property only so that the person living in it can acquire finance, then we would still get the FHP stamp and mortgage duty exemption. Does this also apply to the FHOG?
Under who’s name should the:
deeds for the second property and
the loan
be put on?Mutant
You need to consult a lawyer who specialioses in property for this one.
With a wrap you can still qualify for FHOG. In which case property stays in your name untill the last payment.
Rgds.
Lucifer_auThanks. I will definitely read up on wraps. Do you know any good lawyers who specialise in property? I live in Singapore now, but it’s only 2 hours behind Sydney, so I can still call them.[buz2]
Mutant
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