Hello,
My girlfriend stil has her FHOG. i have used my FHOG already. can we buy a place in joint names on the title and can she still use her FHOG? or does the property have to be completely in her name?
Hi Avranjes,
I seem to recall a thread of similar nature a while back which discussed this issue.
I was in an identical position to you a few years back where I had used the FHOG while my partner had not. We were advised that we (she) could still apply for it as long as it was only her name on the title. You can still have both names on the mortgage but only hers on the title. We actually did do this and all was good, however I think the advice by other members at the time was that this is not allowed.
Either way, the deed is done and was allowed two years ago and must say the broker I used in WA was excellent so if you need one, PM me and will send you his number.
Hi Avranjes,
Jhoper is correct,However in the finance sction you mentioned that you and your girlfriend have purchased a property in a HDT and you are renting it from the Trust,
you can purchase/own an IP and still qualify for the FHOG but under the circumstances I would suggest you contact the appropriate FHOG dept for clarification. Cheers.Regards
Steven
Mortgage BrokerMobile Mortgage Market
Ph: 0402 483 216
[email protected]
http://www.mobilemortgagemarket.com.auPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
hi guys,
i think you are right, i was just looking for clarfication.
If i purchase the property in my girlfriends name and then the mortage in both our names, i will be able to -ve or +ve gear my half of the mortgage when applicable though???
She will be able to gear the property as the income will be heres.
You can charge her interest for your share of the mortgage.
You may have trouble finding a lender who will allow the title and the loan to be in seperate names – usually they need to match. If you are de facto then it should be OK.
But if you are defacto then she is not entitled to the FHOG as her spouse has had it.
There may be other ways – I suggest you see a clever broker and/or accountant.
Be careful that you don’t commit fraud.
Cheers,
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 75% LVR***
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
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