The guidelines below are for information purposes only. We strongly recommend that you click on the links and speak to your solicitor or conveyancer, and the relevant government departments, to make sure you have the most up to date information as it changes regularly.
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First Home Guarantee, Family Home Guarantee, and Regional Home Guarantee.
The First Home Guarantee (FHBG) and Regional Home Guarantee (RHG) are Australian Government initiatives to support eligible first home buyers to purchase their first home sooner. The Family Home Guarantee aims to support eligible single parents with at least one dependent child in purchasing a family home, regardless of whether that single parent is a first home buyer or a previous homeowner. See below for details on each of these initiatives.
First Home Guarantee
5% minimum deposit PLUS costs (stamp duty, conveyancing etc)
New & existing properties
35,000 places from 1st July 2023 to 30th June 2024
All applicants must be first home buyers
Price cap Hobart $600,000 and the rest of Tasmania $450,000 – Click here for info on price caps.
You can find more information on the First Home Loan Deposit Scheme here OR download the fact sheet here.
To watch our brokers chat about the First Home Guarantee Scheme click here.
Family Home Guarantee
2% minimum deposit PLUS costs (stamp duty, conveyancing etc)
5,000 places from 1st July 2023 to 30th June 2024
Single parent with at least one dependent child
First home buyers or previous homeowners
Price cap Hobart $600,000 and the rest of Tasmania $450,000 – Click here for info on price caps.
You can find more information on the Family Home Guarantee here OR download the fact sheet here.
Click here to watch our amazing brokers chat about the Family Home Guarantee Scheme.
Regional Home Guarantee
5% minimum deposit PLUS costs (stamp duty, conveyancing etc)
New & existing properties
10,000 places from 1st July 2023 to 30th June 2024
Applicants have to have lived in the regional area or adjacent regional area for 12 months prior to purchase
All applicants must be first home buyers
The Tasmanian regional price cap is $450,000 – click here for more info on price caps.
Check whether the postcode you wish to purchase in is covered under the scheme by using this link.
You can find more information on the regional home guarantee here OR download the fact sheet by clicking here.
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MyHome (previously known as HomeShare)
MyHome (formerly known as HomeShare) is the Tasmanian Government’s shared equity program that helps people get into their own home sooner. Under MyHome you share the cost of buying your home with the Director of Housing.
Click here to to see a fact sheet about My Home
MyHome is currently only available via Bank of Us. Fortunately, Bank of Us are now one of the lenders on our panel which means we can assist with applications on the MyHome scheme. If MyHome is something you’re interested in pursuing please book an appointment via your broker for more information.
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Tasmanian First Home Owner Grant.
Applying for the grant.
All Other states FHOG information:
Have a read of this helpful article on the grants from ‘Your Mortgage’ and also see specific government pages below:
- Western Australia
- Victoria
- New South Wales
- Queensland
- Northern Territory
- ACT – sorry ACT, no grants for you at this stage.
- South Australia
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Duty concession for first home buyers of established homes (TAS).
Change to duty concession for first home buyers of established homes – Tasmania only.
The duty concession provides a 50 per cent discount on property transfer duty for first home buyers of established homes in Tasmania. The dutiable value of a property that may be eligible for the 50 per cent discount on property transfer duty is up to $600,000. All existing eligibility criteria must be met.
How to apply.
- Refer to the Duty concession for first home buyers of established homes factsheet.
- Lodge a Duty concession for first home buyers application form.
Your solicitor or conveyancer will assist you to apply for the concession, and to seek a duty refund. Please yell out or email team(at)uploans.com.au if you have any questions around the grants.
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For further information on the building process and everything it entails, you can read our Home Building Guide, starting with stage 1 here: www.uploans.com.au/stage1