By Robert Carry
Brisbane's potential first homebuyers have been left in the dark as to where the proposed capping of grants will be set after conflicting statements emerged from state government sources.
Housing Minister Tanya Plibersek announced during a press conference at the time of the scheme's launch that the state of Victoria would implement a cap on eligibility on homes valued above $600,000.
According to The Australian Financial Review, her remarks were welcomed by Victoria treasurer John Lenders who said measures were needed to ensure grants were not being given to "millionaire first homebuyers so they can rope in a mansion in Toorak or Brighton".
However, under legislation put before the state parliament last month the Victorian government, the proposed cap has been set at $750,000.
The legislation is set to be brought into effect from January 2010.
Whether you are looking to buy your first home, move home, refinance, or invest in property, a mortgage broker can help. Access loans from all the major lenders, get help with paperwork – plus there is no charge for this service. Get help from a local mortgage broker
Top Suburbs :
Get help financing your investment
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local expert Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus, our mortgage broking service is at no cost to you.
We value your privacy and treat all your information seriously - you can check out