Will have a mortgage in the UK restrict me from getting a mortgage in AUS

[Peach]

12 hours ago, daveysing said:

Did you get first home buyer exemption?

Yes, but this was 2011 and in ACT, the rules change and vary from state to state.

[AliG]

Bumping an old thread because I was looking at first time buyer stamp duty concession and came to the conclusion that i wouldn't get the concession as i have owner property abroad - but it sounds like others have had different experiences?

Heres what QLD gov website says:

To be eligible for a first home concession when you buy or acquire a home, you must:

• be legally acquiring the property as an individual
• have never claimed the first home vacant land concession
• have never held an interest in another residence anywhere in Australia or overseas
• be at least 18 years of age (we explain below when we may waive this requirement)
• move into it with your personal belongings and live there on a daily basis within 1 year of settlement (this time cannot be extended)
• not dispose (sell, transfer, lease or otherwise grant exclusive possession) of all or part of the property before you move in
• be paying market value if the residence is valued between $500,001 and $549,999.

[Ken]

On 03/06/2023 at 16:55, AliG said:

Bumping an old thread because I was looking at first time buyer stamp duty concession and came to the conclusion that i wouldn't get the concession as i have owner property abroad - but it sounds like others have had different experiences?

Heres what QLD gov website says:

To be eligible for a first home concession when you buy or acquire a home, you must:

• be legally acquiring the property as an individual
• have never claimed the first home vacant land concession
• have never held an interest in another residence anywhere in Australia or overseas
• be at least 18 years of age (we explain below when we may waive this requirement)
• move into it with your personal belongings and live there on a daily basis within 1 year of settlement (this time cannot be extended)
• not dispose (sell, transfer, lease or otherwise grant exclusive possession) of all or part of the property before you move in
• be paying market value if the residence is valued between $500,001 and $549,999.

That's much stricter than in Victoria. The Victorian rules (where we got the first home owner concession back in 2016) regarding previous home ownership still are:-

You’re not eligible for the FHOG if you or your spouse or partner have already:

• received the FHOG in Australia
• owned a home or other residential property in Australia, either jointly or separately, prior to 1 July 2000, or
• lived in a home in Australia which either of you owned or part-owned on or after 1 July 2000 for a continuous period of at least six months.

Edited June 18, 2023 by Ken