First Home Owners Grant Scheme And Home Loan Professional Package
FHOGS: First home buyers grant is given by NSW government to those who are eligible to buy first home in the market. The federal government has improvised this buyer's grant in recent times to give an attractive selection for all the first home buyers.
The First Home Owner Grant Scheme(FHOGS) is totally sponsored by the HSW Government and supervised by the Office of State Revenue(OSR),. The first home buyers are assisted by this scheme which was established to buy their first home with a grant of $7000.
The first home owners who are entitled to get the grant despite of their income, the area where they are planning to build or buy the first home. There is no need to pay tax and this grant is not means tested.
In October 2008, the Australian Government proclaimed a First Home Owner Boost which complements the NSW Government, financed First Home Owner Grant Scheme.In regard to the declaration from the Commonwealth:
First home buyers who are going to buy homes which are already established will receive a boost of $7,000 and it gets doubled to the first home buyers grant to $14,000.
First home buyers who build a new home or purchase a newly constructed home will receive an extra $14,000. This will take their first home buyers grant to $21,000.
Home Loan Professional Packages: Like credit rating e.g. AAA, AA or A rating, a AAA credit rating means you have a superior credit profile. In an effort to attract people on higher incomes or those regarded as low-risk borrowers, lenders offer special loan deals known as professional packages to 'reward' these customers.
These packages were restricted to professionals like lawyers and accountants before but now these are available to a large range of customers whose income is sufficient or aggregate loan size.
A Professional Package normally offers discounts of 0.2 to 0.7 per cent off lenders standard variable interest rate and nearly to 0.25 per cent off fixed interest rates based on the size of the loan
You can save on the rates discounts and also the professional package presents a range of other cut rates on financial records such as credit cards, transaction, margin loans and insurance.
Consider the following pros and cons before you decide on a professional package with your home loan:
Professional Package Home Loan Pros are Fully featured account e.g. redraw, split loans, internet and phone banking, Interest rate discounts on the standard variable rate, Entitled to the benefits of fee free transaction accounts and insurance product discounts and No establishment fees and no ongoing monthly fees on your loans.
Professional Package Home Loan Cons are An annual fee applies to this product
The First Home Owner Grant Scheme(FHOGS) is totally sponsored by the HSW Government and supervised by the Office of State Revenue(OSR),. The first home buyers are assisted by this scheme which was established to buy their first home with a grant of $7000.
The first home owners who are entitled to get the grant despite of their income, the area where they are planning to build or buy the first home. There is no need to pay tax and this grant is not means tested.
In October 2008, the Australian Government proclaimed a First Home Owner Boost which complements the NSW Government, financed First Home Owner Grant Scheme.In regard to the declaration from the Commonwealth:
First home buyers who are going to buy homes which are already established will receive a boost of $7,000 and it gets doubled to the first home buyers grant to $14,000.
First home buyers who build a new home or purchase a newly constructed home will receive an extra $14,000. This will take their first home buyers grant to $21,000.
Home Loan Professional Packages: Like credit rating e.g. AAA, AA or A rating, a AAA credit rating means you have a superior credit profile. In an effort to attract people on higher incomes or those regarded as low-risk borrowers, lenders offer special loan deals known as professional packages to 'reward' these customers.
These packages were restricted to professionals like lawyers and accountants before but now these are available to a large range of customers whose income is sufficient or aggregate loan size.
A Professional Package normally offers discounts of 0.2 to 0.7 per cent off lenders standard variable interest rate and nearly to 0.25 per cent off fixed interest rates based on the size of the loan
You can save on the rates discounts and also the professional package presents a range of other cut rates on financial records such as credit cards, transaction, margin loans and insurance.
Consider the following pros and cons before you decide on a professional package with your home loan:
Professional Package Home Loan Pros are Fully featured account e.g. redraw, split loans, internet and phone banking, Interest rate discounts on the standard variable rate, Entitled to the benefits of fee free transaction accounts and insurance product discounts and No establishment fees and no ongoing monthly fees on your loans.
Professional Package Home Loan Cons are An annual fee applies to this product
About the Author:
Guy Baldwin is an executive of the website http://www.directmoneyhomeloans.com.au where you can get access to all leading lenders to get a best low ratesof home loan .You can also contact at 1300 882 432 and take their services free of charge.
posted by Debt Consolidation Loan at
7:39 AM
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