Star Homeloans

  How Much Deposit Do I Need to Buy a House See how much deposit you need to buy a House in 2024. Find out more about what you should consider if you’re thinking of buying a house.

Have you heard of Redraw but don’t know what it is? Many homeowners often overlook the concept of a redraw facility, yet it can offer numerous benefits. Once you are comfortable paying your mortgage, you would like to increase your repayments above the minimum amount. Not only could this help you pay your mortgage faster through minimising the interest charged over the lifespan of the loan, but it also means, you will be able to withdraw the extra funds when you need them. Blog link:  What Happens To Redraw When Loan is Paid Off?

  What is a Stamp Duty? Stamp duty is also called transfer duty, which is the tax that you are required to pay to the state and territory governments when you make certain transactions. These transactions include mortgage or lease applications and transference of properties, not solely real estate, but also businesses or shares. It is quite difficult to know what can and can’t be claimed on tax in the property market. When you purchase a property, there are various things that can be claimed on your tax return and many of the fees that come when applying for and buying a new property. It is common for property buyers to know whether or not this fee is tax deductible, or if there are any exemptions. Is Stamp Duty Tax Deductible? For all of those looking to get home ownership or become a property investor, stamp duty is not tax deductible as it is a capital expense, a once-off payment of property or buildings. You will have to make the full payment of stamp duty according to your sta...