What Is Stamp Duty?
Everything you need to know about stamp duty.
Stamp duty or transfer duty is a general tax imposed by the state government on the purchase or transfer of almost any real estate. This includes buying a home, land, or investment property. Since it’s determined by individual state and territory governments, the amount charged, and exemptions may vary.
Does everyone need to pay stamp duty?
If you’re purchasing your first home, you may not have to pay stamp duty under the First Home Owners Concession if you’re eligible.
Please note that Unloan does not participate in the Home Guarantee Scheme, Victorian Homebuyer Fund or other government home-buyer assistance schemes. If you are eligible for the First Home Buyer Grant, these funds cannot contribute to your 20% deposit. Please speak to your conveyancer on how best to approach this.
In addition to this grant, other exemptions and concessions may apply based on specific circumstances, such as being a pensioner or a farmer. We recommend speaking with your solicitor or conveyancer to determine your eligibility.
Your conveyancer or solicitor can arrange to pay stamp duty on your behalf to the relevant state or territory revenue body.
Apart from stamp duty, there are other upfront costs to be aware of. Learn more about the upfront costs to consider before buying a home.
Thinking about purchasing your first home? Here’s where to start.
This article is intended to provide general information only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice. Please consider seeking financial advice before making any decision based on this information.
Related
We provide ways to potentially increase your savings on your mortgage repayments by using an offset account effectively. Get the know-how to reduce your loan balance and save on interest.
Here a guide on how payments are calculated, how to setup payments and how to setup AutoPay.
It involves paying both the loan's principal and the interest in a home loan repayment.
You might be wondering, what is LVR (Loan-to-Value Ratio)? It’s the borrowed amount relative to the value of the property being bought or refinanced.
You might be wondering, what is LVR (Loan to Value Ratio)? It’s the borrowed amount relative to the value of the property being bought or refinanced.
Here a guide on how payments are calculated, how to setup payments and how to setup AutoPay.
It involves paying both the loan's principal and the interest in a home loan repayment.
Learn what basis points are and their significance in home loans. This guide simplifies the concept to help you make informed decisions on refinancing or purchasing, with tips on managing interest rate changes.
If you want to show the seller you’re serious about buying their property, you might want to throw in a holding deposit along with your offer to sweeten the deal.
Buy Now Pay Later could be hurting your credit score. Read on to learn more about Buy Now Pay Later services and how they can affect your credit rating.
As it turns out, late or missed payments can negatively affect your credit score. You wouldn’t want a few late or missed payments to be the reason for you not securing a mortgage.
Want to reduce the amount of interest payable on your home loan, an offset account could be the answer. Here’s what you need to know about offset accounts and how they work.
Read on for an overview of how offset accounts work and how they stack up against redraw facilities and high-interest savings accounts.
Offset accounts are a feature that’s offered by some lenders on certain home loan products. While they offer a range of benefits, they don’t come without their own set of drawbacks.
Get to know the pros and cons of different repayment schedules, so you can choose the right option for you.
As a first-time home buyer, is taking out an interest-only home loan the best option for your first home?
Get to know the differences between interest rates and comparison rates and make a smarter choice about your home loan.
Could a home loan top-up help you deal with life’s unexpected expenses? Discover how top-ups work and how you can benefit.
Get the lowdown on break fees and figure out if a fixed-rate loan is right for you.
We explain the potential benefits and drawbacks when it comes to refinance cashback offers.
It’s important to understand what the term ‘mortgage prisoner’ is as it’s something you want to avoid.
We explain when and why you need to provide a certificate of currency.
Are you looking for a way to save on interest and tap into your equity later down the track? A redraw facility could just be the answer.
We explore if you can include your student debt in a debt consolidation loan.
Everything you need to know about loan amortisation and how it works.
We explain why it's important to check your credit score regularly.
LMI may require you to pay a one-off, non-transferable fee, we explore four benefits it could have.
Here’s a breakdown of how banks work out how much you can borrow.
It involves paying both the loan's principal and the interest in a home loan repayment.
How do lenders set home loan interest rates and what are their lending costs?
How can you identify a good interest rate? Here are five factors worth thinking about when trying to decide which rate is best for you.
We explain what a certificate of currency is, when you need it, and how to get it.
Learn the difference between a home loan and a refinanced interest rate.
Everything you need to know about a family guarantee and how it works.
Learn about what a home loan repayment is and what factors impact how much your repayment amount is.
It involves your new lender receiving your home's title deeds from your old lender.
Before you take on a mortgage, here’s what you should know about variable rate home loans.
Are you contemplating on consolidating your debt? Here are four things to consider.
Everything you need to know about what happens when you withdraw from a redraw facility.
Everything you need to know about conveyancing, what it involves and how much it costs.
We all love a holiday, but when it comes to home loans, what is a repayment holiday? Here's everything you need to know.
A cooling off period lets you reconsider your home purchase within the specified time.
Equity is your property's value minus what you owe on your mortgage.
A discharge fee is required when you pay off your mortgage or switch lenders.
A comparison rate merges interest and fees to show a loan's true cost.
You might be wondering, what is LVR (Loan-to-Value Ratio)? It’s the borrowed amount relative to the value of the property being bought or refinanced.
Wondering how to calculate your mortgage repayments? Here's how.
Here's everything you need to know about how banks calculate your borrowing capacity.
We break down what determines the interest you'll pay and how to calculate it.
Borrowing power is how much a lender is willing to loan you based on several factors.
Everything you need to know about debt consolidation. How does it work, what are the benefits and what you need to consider.
A mortgage broker can help to guide you through, offer advice and find the best loan for your needs. Discover the benefits and costs here.
Everyone's financial needs differ. With many mortgage types, whether you're renovating or seeking a lower rate, there's a fit for you.
When it comes to your eligibility, your credit score is important.
Here are the home loan fees to know about when purchasing or refinancing a home.
Here’s the difference between the two features and how they work in different ways.
Explore how your debt and expenses help determine whether you can afford your repayments.
What's classified as income and what to do if your income changes.
Learn what serviceability assessments are and what factors are reviewed.
It gives you access to additional repayments that you’ve made, over and above the minimum monthly repayments.
RBA charges a rate on unsecured overnight loans between banks. The RBA cash rate increase is to balance the economic stability. Here’s how it may affect you.
We provide a breakdown of how banks work out how much you can borrow.
When applying for a home loan, a lender will do what’s called a credit check. Here’s what you can expect.
More questions?
We have more answers.
Chat to us
Got a question?
Ask us anything.
Understand your eligibility
Check and submit your application
Get support every step of the way
