The initial Home Owner Grant (FHOG) scheme had been introduced on 1 2000 to offset the effect of the GST on home ownership july. It really is a nationwide scheme funded because of the states and regions and administered under their particular legislation.

A one-off grant is payable to first home owners that satisfy all the eligibility criteria and in many cases can be put toward your deposit under the scheme. An uno mortgage loan specialist can confer with your loan provider about whether you’re eligible. Some loan providers should be able to process the grant in your stead if you choose to make an application for a loan.

The approval procedure

In terms of approval that is getting a no deposit mortgage loan, you’ll have actually to generally meet fairly strict tips.

Your record should show payment that is on-time every thing, specifically lease, bank cards, as well as other kinds of finance. It’s important that you don’t fall behind on all of your payments.

To get approval for a no deposit mortgage loan, your credit rating must certanly be immaculate.