Browse Forums Home Finance Re: FHOG Question - One eligible person in couple 2May 26, 2014 10:44 am Owner Building at Jimboomba Woods in Logan City Qld. Blog : http://bandlnewhomebuild.blogspot.com H1 thread : viewtopic.php?f=38&t=68283 . Re: FHOG Question - One eligible person in couple 4May 26, 2014 10:56 am Thread: viewtopic.php?f=31&t=66299 Slab: 16/6/14 Frame: 4/7/14 Roof: 22/7/14 Lock Up: 20/8/14 Fixing: 26/8/14 PCI: 9/10/14 Handover: 20/10/14 Re: FHOG Question - One eligible person in couple 7May 27, 2014 1:11 am bundyjr Quote: If your partner is not an applicant (i.e. doesn't have their name on title or loan), then you still need to include any spouse/de-facto on your behalf, and this is where it may become a grey area as they need to meet the definition of "spouse/de-facto". This is the part I am looking at as they define de-facto as having lived together at least two years, of which we haven't. I will find out as much info as I can and will keep this thread updated. Thanks for the help so far. Just take note if you do end up taking this path and it is okay, then your partner cannot be on the loan. Banks will only allow someone on a loan if they are deemed to have a relevant interest on the property. That means they must either be on title or they must be a spouse. They don't allow friends, acquaintances, etc. Therefore you would need to be able to service the loan by yourself. Cheers Tom Re: FHOG Question - One eligible person in couple 8May 29, 2014 7:45 am bundyjr Quote: If your partner is not an applicant (i.e. doesn't have their name on title or loan), then you still need to include any spouse/de-facto on your behalf, and this is where it may become a grey area as they need to meet the definition of "spouse/de-facto". This is the part I am looking at as they define de-facto as having lived together at least two years, of which we haven't. I will find out as much info as I can and will keep this thread updated. Thanks for the help so far. ..but your partner is on the title as well...when you apply for the grant it's based on the full ownership - so all party involved. Michael Chan | Australia wide Mortgage Broker Michael@ShapeHomeLoans.com.au | 1300 74 5626 | Fax: 02 8212 8909 http://www.ShapeHomeLoans.com.au Re: FHOG Question - One eligible person in couple 9May 31, 2014 7:23 pm If you haven't lived together for longer than 2 years and your 're not married then yes she isn't your defacto. You are technically eligible. But everything will need to be in your name, I would say even the entire lone. Re: FHOG Question - One eligible person in couple 10Jun 01, 2014 9:32 am In NSW (not sure about other states) you can have previously owned property if you haven't lived in it (as in it was an investment property). if it's in your name only you should be OK assuming the defacto defenition. The defacto point is mute if it's in both names. Is your partner OK with it being in your name only? Re: FHOG Question - One eligible person in couple 11Jun 01, 2014 9:37 am Another option to consider is to place the property in your name only and use your partner as a guarantor. But there are massive downsides to this for your partner if the relationship goes sour. Re: FHOG Question - One eligible person in couple 12Jun 01, 2014 2:02 pm Extreme Another option to consider is to place the property in your name only and use your partner as a guarantor. But there are massive downsides to this for your partner if the relationship goes sour. You will be reluctant to find a lender that will allow a guarantor that isn't a family member. In the OP's case the partner will only be allowed to be a guarantor if they are considered a spouse or on title, and then the FHOG eligibility is nullified. In this case they might as well be a co-borrower instead of guarantor. Cheers, Tom Re: FHOG Question - One eligible person in couple 13Jun 01, 2014 3:30 pm If you can afford the loan under your name only, than you can apply for the loan under your name only- but that's beside the point....the point is your " friend" is on the TITLE as well...so from the OSR perspective they look at both "applicant", the OSR doesn't care about the loan infact you can buy this outright with cash and you will have the same questions/probelm....so you might get half or none of the grant etc... Michael Chan | Australia wide Mortgage Broker Michael@ShapeHomeLoans.com.au | 1300 74 5626 | Fax: 02 8212 8909 http://www.ShapeHomeLoans.com.au Very common on rendered homes Smaller suppliers get the lower quality raw materials 6 12027 4 14799 That is a really good attitude Akin to you catch more flies with honey than vinegar. I do enjoy watching that tik tok inspector from Victoria but he does go a little… 12 82355 |