Victorian First Home Buyer Grant Eligibility

To qualify for a first home buyers grant the home must be lived in by yourself.

The following types of dwellings are eligible: houses, flats, townhouses, apartments and movable homes that are transported on land owned by the applicant.

If the home is not in Victoria, then you must apply directly with the applicable state government. The applicant must be the registered owner of the purchased home or the dwelling under construction. You must be on title as the owner or have an interest as a buyer on a terms contract.

Whether or not your spouse or partner is an applicant, their details must be noted on the application form and considered as part of the eligibility criteria.

You should apply for the grant with a registered agent, once you apply for finance or at the State Revenue Office after settlement. Or when construction has completed.

The payment of the grant is subject to approval from the State Revenue Office commissioner. If you do not supply all the required information, your application will be returned to you. If for any reason you are not approved, you may lodge a written application with the Commisioner. Your application must be lodged within 60 days of the notice of being denied.

If you receive the grant when you are not entitled, penalties and interest may be imposed. Every application is scrutinised for previous ownership in Victoria and interstate.

Their is available at present a First Home Buyers Boost scheme, which is a Federal government initiative.

This scheme is controlled by the Victoria government, via the State revenue office. In addition to the $ 7000 FHOG

Contracts between 14th October 2008 and 30 September 2009 will be eligible for an extra $ 7,000 for buying an established home. And $ 14,000 for building a new home. Contracts between 1st October 2009 and 31st December 2009, will be entitled to $ 3500 for an established home and $ 7000 for a new home.

Need A First Home Buyer Loan?

Darren Blair

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