Browse Forums Building A New House 1 Mar 11, 2009 10:43 am As most of you know my house is now nearly up to lock up stage. I have made two progress payments now (Base & Frame) and I assumed by the SRO website that the FHOG gets paid with the first progress payment. However CBA have just added $12000 on to my loan and have not credited me for the FHOG. I have called them up a couple of times and today I was advised it will be credited with my next progress payment.
I just want to check if this is correct and if others people on here have had it paid that way. Re: Question about when FHOG gets paid? 2Mar 11, 2009 10:59 am For us we found out through calling the bank you have to fill in a form to say they can claim back your FHOG, we banked with St george, then they go to SRO and get the FHOG on your behalf!
Have you signed anything to say the bank can have the money (apart from the FHOG form)? maybe call your bank and ask if you are required to! For us the bank didn't tell us it was required, we found out through them paying the first draw down minus the $12,000 and our builder going umm, where is this additional money! Re: Question about when FHOG gets paid? 3Mar 11, 2009 11:02 am Interesting you ask this Q. We have now paid 2 progress payments as well. We have been told that it is supposed to come off your first progress payment. Ours is yet to be done as well. Our bank indicated when I made some enquiries only yesterday that we are able to get the money whenever we like. All we need to do is send through a fax stating that it is surplus and we have the money transferred to our savings account.
For us, we just want to see a record of this money to know that we have it there. Not waiting 4 months down the track and having to sort it out then. Hope you get it soon Re: Question about when FHOG gets paid? 4Mar 11, 2009 11:07 am We havent started building yet but I was on the phone with my broker this morning and he confirmed that the FHOG is paid at the time of first progress payment. You should follow up with the bank because you would have signed the documents for the grant to be sent to the bank and they should have claimed it when the first progress payment was made. Land Settled 27/04/09. Site Started 30/4/09. Slab poured 21/5/09. Frame up 27/5/09. Building thread : viewtopic.php?f=31&t=15699 Re: Question about when FHOG gets paid? 5Mar 11, 2009 11:14 am I sent the CBA a fax on for my first progress payment stating please pay $12,000 to the bank for the FHOG. I paid the remainder through a personal cheque. They just added $12,000 to the loan and didn't reimburse the FHOG.
I just want to know if I should argue this more or if this is how it is meant to work? Re: Question about when FHOG gets paid? 6Mar 11, 2009 11:15 am With ours RAMS said we'll get it the moment the slab goes down, which will be paid by them and they'll keep the FHOG when it comes in. They even said if we need it we can get the FHOG earlier than the slab going down.
No idea why.. it'll all go into the home loan anyway :s Re: Question about when FHOG gets paid? 7Mar 11, 2009 11:20 am This thread got my attention too. We payed our first progress payment on the 26nd Feb. I have just emailed our banker asking to advise the status on our FHOG and FHOB. He has replied advising they are following it up now. Built The Huntley 290 with HomeXcellance / Cheviot Homes Re: Question about when FHOG gets paid? 8Mar 11, 2009 11:47 am If you look on the FHOG website it says there that the grant is paid after you've made sufficient payments to the builder (excluding the initial deposit) exceeding the amount of the FHOG.
If you're eligible for the $21,000 and if your fist progress payment to the builder is more than $21,000 you can apply for the FHOG after the first progress payment. If your first progress payment is less than $21,000, you have to wait for the FHOG until you've made the second progress payment. The above is how it works in WA. Don't know if there are differences with other states. All factsheets re the rules are here: http://www.dtf.wa.gov.au/cms/osr_content.asp?ID=344 In all cases you (or your bank on your behalf) has to actually apply for the FHOG (with the right paperwork). It does not magically appear. Gina Re: Question about when FHOG gets paid? 9Mar 11, 2009 12:08 pm GinaUK In all cases you (or your bank on your behalf) has to actually apply for the FHOG (with the right paperwork). It does not magically appear. Gina Yes I applied for it at time of loan. The question is when should it be paid? Re: Question about when FHOG gets paid? 10Mar 11, 2009 12:30 pm Ours was paid after Base stage payment and some prompting of our contact at our bank. Was credited to our loan and will be drawn out when loan is settled. Re: Question about when FHOG gets paid? 11Mar 11, 2009 1:39 pm We have just done the contracts with our builder yesterday and we had to sign a form with them to say that they can collect the FHOG on our behalf when the time comes, it then goes in with the first payment. Re: Question about when FHOG gets paid? 12Mar 11, 2009 6:22 pm wakeboardandy GinaUK In all cases you (or your bank on your behalf) has to actually apply for the FHOG (with the right paperwork). It does not magically appear. Gina Yes I applied for it at time of loan. The question is when should it be paid? You may feel you've applied at the time of the loan because that's when you filled in/signed the forms given to you by your bank. But it's the bank who applies on your behalf. And - as I said in my original post - they can't apply until you've made progress payments that exceed $21,000. If you've now made progress payments that exceed $21,000, you should check with your bank that they have now applied for the FHOG (the bank may just be sitting on your papers ...). Once the bank has applied it should take only a few weeks till the FHOG is paid (really just depends how many applications they have and how many people working their way through them). Gina Re: Question about when FHOG gets paid? 13Mar 18, 2009 6:58 am I received a letter from the VIC SRO on Monday advising that i was eligible for the FHOG and FHOB. I emailed the letter to our private banker. He had confirmation that it would be payed by the end of the week. I checked Netbank this morning and it was payed last night!!! Built The Huntley 290 with HomeXcellance / Cheviot Homes Re: Question about when FHOG gets paid? 14Mar 27, 2009 8:04 am My mortgage agent had me applied for FHOG together with the loan to CBA. Was advised that it would be paid at Base stage. When the money did not come in, I contacted the bank and my mortgage agent. My agent had to push the bank to check it out and finally they said they lost my application form. I had to resubmit the application. After a month, there is still no sign of the money which I then contacted my agent again. The form was still in their "To-do" tray! Finally, it was sent and I the money was paid into my loan account. We should always check and not wait. You really have no idea what is happening at the other end. Re: Question about when FHOG gets paid? 15Mar 27, 2009 11:52 am Hello all, This is a great forum! Love it! We are thinking of building with NBG in Doreen and already paid deposit to lock there "no progress payments" offer. We pay 5% after we sign a contract and then 95% when we get keys from our house. Does anyone know when FHOG will be paid in that case? I would prefer to be able to use part of FHOG for landscaping and some furniture. Do you think it is allowed or all the money have to go to a bank? Re: Question about when FHOG gets paid? 16Mar 27, 2009 12:24 pm Yev_ Hello all, This is a great forum! Love it! We are thinking of building with NBG in Doreen and already paid deposit to lock there "no progress payments" offer. We pay 5% after we sign a contract and then 95% when we get keys from our house. Does anyone know when FHOG will be paid in that case? I would prefer to be able to use part of FHOG for landscaping and some furniture. Do you think it is allowed or all the money have to go to a bank? In that case, you'd receive the grant at settlement as it requires a progress payment from the builder to get it at slab stage. The bank can't just take your grant. It comes from the state revenue office and can be paid into any account of your choosing for whatever purpose you see fit. If you still have money that you need to pay (eg. you've paid 5% deposit to the builder but your LVR is 90%), you'll have to pay that extra 5% at the end with your own money, either via the grant or through savings. Stevep79 & Principessa Finished building Wisdom Homes Impression 33mkII in The Ponds, Sydney http://lilypadintheponds.blogspot.com You can really use anything you want the main consideration would be how it looks once painted/finished - or the look you want. Cabinetmakers use MDF because its cheap… 2 9982 I would say both styles you have pictured are steel. The lower chord of the first pic would be a massive lump if made using timber considering the size of the rafters. If… 1 6158 1 13132 |