No Stamp Duty for purchases under 650K

Stamp Duty on a purchase of $650,000 would normally cost you an extra $25,012, which, when added to legal costs and lender fees , could end up costing the new home buyer up to $677,000.

Most lenders will lend up to 95% of the purchase price (including LMI) so you would need a minimum of around $80K to get into a house. With the abolition of stamp duty, new home buyers can get into a home with as little as $55,000.

This is great news and gets home owners into their first home sooner.

Fill in our online assessment form and find out your borrowing capacity within 24 hours.



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