Wednesday, December 21st, 2011
First time home buyers are rushing to capitalise on the State Government's stamp duty concession on existing properties, which will be cut in two weeks time.

The December 31 deadline for First time home buyers has sparked increase demand for mortgage lenders to get home loans approved in time.

Independent mortgage management firm Australian Mortgage Options says its been inundated with loan applications from First time home buyers in recent weeks.

The stamp duty savings combined with a best value home loan can potentially save young property owners more than $17,000 on a property purchase of up to $500,000.

Robert Projeski, MD of Australian Mortgage Options said there's been an upsurge in applications from keen First time home buyers wanting to make their purchase before the end of the year.

"While brand new, never-been-lived-in properties including off-the-plan purchase will still give eligible First time home buyers concession on the transfer stamp duty charges, for first home time home buyers looking to buy existing properties, the First Home Buyers' Grant worth $7 000 will be all that is on offer come the first of January next," Mr Projeski said.

"The additional stamp duty concession has certainly had a notable impact on the property market and first home buyer activity with the end date of December 31st creating quite a rush among First time home buyers ," he said.


Contact Profile

AMO homeloans

Australian Mortgage Options (AMO) was founded in 1998 and since then has helped thousands of Australians finance their home or investment property.

Prior to establishing the company, founder Robert Projeski worked in the banking industry and identified a number of ways in which he could improve a borrower’s financial position by restructuring home loan products.

Borrowers would then be able to pay off their mortgage sooner, minimise tax and create wealth. Mr Projeski presented his findings and recommendations to the executive board. While impressed with his proposal, they declined to proceed as it would benefit the borrower at the expense of the lender. They figured, that, if people paid their home loan off sooner, the lender would earn less money from interest and this would not benefit the bank especially in the short to medium term.

So, unperturbed, Mr Projeski left and AMO was born with the mission statement “we’ll show you what the others don’t want you to know”.

It is this philosophy that has driven the business to the forefront of the home loan market, resulting in multiple awards from Money Magazine, Cannex, Your Mortgage Magazine and Canstar. So you can rest easy and enjoy the rewards of working with one of Australia’s most trusted and awarded companies – AMO
Robert Projeski
P: 133 266


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