Browse Forums Home Finance 1 Apr 18, 2012 3:14 pm I bought a land in NSW and the building contract will be signed up this Friday. FHOG can be lodged after signing up the building contract. I have a Bankwest Online Home Loan, but it's a land loan, not a construction loan. Is the bank still able to help me to apply for FHOG? Thank you! Re: Only land loan no construction loan, how to apply for FH 2Apr 19, 2012 8:13 am Hi The type of loan does not matter. All you need to give the bank is a copy of the signed building contract and evidence of the land ownership and they will process your FHOG application. Re: Only land loan no construction loan, how to apply for FH 3Apr 19, 2012 11:46 am Hi hfwangoz, We are also in a similar situation - we want to get the FHOG but the land we've put a deposit down for isnt expected to be titled until April 2013 - however we are wanting to sign the building contract (which we have spoken to our builder about and negotiated with them) in the next 2 months or so, just so that we know that we are eligible for $26,500. I was a bit confused as the builder told us we'd have to speak to the bank about it to see if it was possible - but we were going through a mortgage broker who didnt think that we would get it considering we arent building until at least October next year. So I rang the State Revenue Office, and spoke to a girl there who said that as long as you have signed your building contract and its dated before the end of this financial year that we will still get it, even though we wont have titles on the land OR a loan for either the land or the construction until next financial year =) apparently, it will still all pan out for the best! I hope that the girl was right, otherwise we are going to all the trouble to organise contracts now and not get the money lol! Maybe give them a ring like I did and explain your situation and see if they can give you a 100% definite answer of what you need to do, or go on their website and download the lodgement guide =) Kimmy87 Re: Only land loan no construction loan, how to apply for FH 4Apr 22, 2012 9:41 am Thanks all. Hi kimmy87, I checked with the State Revenue Office and got the same answer. I think we must push the bank to do it asap to avoid any unexpected scenario J Re: Only land loan no construction loan, how to apply for FH 5Apr 22, 2012 9:52 am Here is some information that might help some of you out http://www.osr.nsw.gov.au/benefits/firs ... s/fhogcap/ Re: Only land loan no construction loan, how to apply for FH 6May 24, 2012 10:29 pm Hi All, My first Home owners grant and bonus been approved by SRO. First Progress payment paid to builder by bank yesterday, but i didn't got my first Home owners grant and bonus in my account yet. I did't used my grant as deposit. I am worried. Did anyone come across same scenario like me. Please advice. Thanks heaps. Nicole1983 The biggest challenge will be if you take out a loan and then run out of money - you'll have an incomplete security and lenders do not like this so you can get stuck.… 2 19091 We are about to commence a new build I and Iām reading about defects along the way. My question is should we employ a independent building inspector to come in and… 0 5239 Can you give advice on how to get missing certificates needed for a form 21? Our bank requires us to provide one but we are missing 4 building certificates from our first… 3 71793 |