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Hi, if I buy an IP as my first property, Do I loose my FHOG or will I be able to get my FHOG when I purchase my first PPOR?
I am getting a loan for my first home which will be set up as IP. As soon as I move into this place as it will be my PPOR, I will ask for my FHOG which I should get within 2 weeks.
Yep.
The thing that always worries me is the "may be eligible" as opposed to "is eligible".
AND like anything rules can change at anytime.
I find it very generous that they allow this so will be interested to see if it lasts.
Can you do that? move to your own IP then ask for FHOG? Is the IP has been tenanted for a while before you move in?
The loan manager I spoke with gave me the suggestion, so they didn't care. However, it was all "hush" in terms of policy, so I'd suggest being ninja from the bank and just saying it's investment. You just happened to "change your mind". The bank doesn't give a crap as long as you're paying them back.
Can you do that? move to your own IP then ask for FHOG? Is the IP has been tenanted for a while before you move in?