Hi all,
I have just purchased my 2nd investment property in Scoresby, Vic which will in the not too distant future become my PPOR. I have obtained finance through my trusted broker who myself and other family members have delt with for many years who has managed to sort out finance exceptionally (although didn't manage to get the 3% LMI waived, oh well!).
I have bought the property as an investment as I needed the rent to obtain finance. As my broker has explained if I move into the property within the first 12 months (I think for a 6 month period?) I can apply for the 40% stamp duty saving. Has anyone done this? If so what is the process? Anything to be cautious of?
I am planning to move into the property around the 10 months period after settlement & do some much needed renovations so I'm hoping the refunded stamp duty amount is easily obtained to assist with reno's. Also to clarify on my first property I purchased in 2011, FHOG was never claimed & I have never lived in the property so to my understanding am still eligible for the stamp duty saving.
Any help/advice would be great!
I have just purchased my 2nd investment property in Scoresby, Vic which will in the not too distant future become my PPOR. I have obtained finance through my trusted broker who myself and other family members have delt with for many years who has managed to sort out finance exceptionally (although didn't manage to get the 3% LMI waived, oh well!).
I have bought the property as an investment as I needed the rent to obtain finance. As my broker has explained if I move into the property within the first 12 months (I think for a 6 month period?) I can apply for the 40% stamp duty saving. Has anyone done this? If so what is the process? Anything to be cautious of?
I am planning to move into the property around the 10 months period after settlement & do some much needed renovations so I'm hoping the refunded stamp duty amount is easily obtained to assist with reno's. Also to clarify on my first property I purchased in 2011, FHOG was never claimed & I have never lived in the property so to my understanding am still eligible for the stamp duty saving.
Any help/advice would be great!