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David – first home buyer

Karl – Rentvestor Michael & Sally – First Time Investors
first home owner


First home owner

David is a sales representative as well as a semi-professional footballer looking to buy his first home in Mebourne. The key challenges for him, once he had decided on a property and indicative buy price, were to arrange finance including investigating his eligibility with regards to the First Home Buyers’ Grant as per the State Government legislation. In Victoria, the key eligibility requirements for the Grant cover issues such as the buyers…

  1. Intention to live in the home as theprincipal place of residence (PPR) for at least 12 continuous months, commencing within 12 months of settlement or completion of construction,
  2. Age (18 or over)
  3. Be an Australian citizen or permanent resident

Further, we needed to confirm specific issues relating to the property itself such as the purchase price of the property can not exceed the $600,000 cap for eligible transactions which commenced on or after 1 January 2010 .

The task

Once we had covered the initial review of his borrowing power and eligibility with regards to arranging bank finance, we then assisted with the confirmation of his status with regards to the Grant. Based on our assessment of his finances we successfully established finance pre-approval with a lender who offered a range of discounts for first home buyers. On the back of this pre-approval, David then entered into a contract of sale for his property and we moved on to completing the necessary paperwork/applications.

Submission process

After receiving a copy of the contract of sale we then coordinated the lodgement of his grant application to the First Homeowners Grant Offices. The grant application process and the detail required therein is quite stringent, particularly around the dates concerning settlement, and it was important to manage this process as closely as possible to avoid delays due to rework.

The result

Once the application was successfully lodged and accepted by the State Revenue office for approval, we received a UIN number and forwarded this to the conveyancor which in turn ensured the settlement process was timely and efficient and meant the funds could be accessed quickly.

Andrew Mirams

Andrew Mirams

Andrew Mirams is the Managing Director of Intuitive Finance and is a highly qualified mortgage advisor who holds dual diplomas in Financial Planning (Financial Services) and Banking and Finance (Mortgage Broking). Andrew’s expertise covers all aspects of lending for a diverse range of applications – from first home buyer loans or property upgrader loans, property investor loans, expatriates and loans for self-employed. With almost 30 years of experience, Andrew has been acknowledged by the mortgage industry as one of its best performers with multiple awards including regularly featuring in both the top 100 mortgage brokers list and Top 50 Elite business writers. Andrew was voted Victoria's favourite Mortgage Broker at the 2015 Investors Choice Awards, and won again for the same category at the 2017 Better Business Awards. The team at Intuitive Finance has also figured prominently by winning the 2016 "Best Independent Office (<5 brokers)" and "Best customer Service" Awards, and more recently at the 2017 MFAA National Awards, they also took out the "Best Customer Service" Award, a recognition which speaks for itself! Visit Intuitive Finance for more information.
Andrew Mirams