Most first home buyers in Australia are eligible for reductions in purchase stamp duty normally payable or other state government based first home buyer incentives when purchasing their first home to occupy.
There is also the opportunity of applying for the $7000 First Home Owner Grant from the Australian Commonwealth Government.
These two factors alone could assist you in getting a first home buyer loan with very little or even no deposit at all!
First Permanent the lender behind the 106 percent no deposit home loan and the Establishment Home Loan have issued the following announcement.
16th April, 2008
Important announcement
Due to the global liquidity crisis, First Permanent will, until further notice, cease new mortgage lending activity effective last Friday 11" April.
First Permanent's shareholders are currently considering several options for the business.