The Prime Minister yesterday strongly indicated that the Government will not extend the additional bonus to the First Home Owners Grant beyond 30 June 2009.
While he did not categorically say it would not be extended, he said "The first home owner's boost, as you know, we have indicated that it will conclude within a very fixed and finite time frame. Its had strong useful results so far, but I have got to say all good things must come to an end."
In addition to a possible cut to the First Home Owners Grant, many lenders are now reducing their maximum loan to value ratio to 90%, meaning many first home buyers will be cut out of the market.
To be eligible for the additional grant, you need to get a contract in place by 30 June 2009.
If you are a first home buyer, we strongly recommend you contact your Finance Consultant urgently to ensure your finance is in place.
If you do not have a Finance Consultant, please email us at info@apsgrowth.com, or call our office on 1300 881 402 and a property mentor will be in touch with you.
Regards, Anthony Simon
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