Stamp duty question

Any general questions you might have in regards to loans and finance.
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Otto Dargan
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Re: Stamp duty question

Post by Otto Dargan »

Hi There,

The stamp duty refund would depend on the state that you live in.

Yes you'd need to pay LMI again on the construction loan. You'd get a credit for the LMI that you've already paid on the land loan so don't worry you won't be double charged.

Yes that's right your bank would be holding on to the certificate of title. Some states such as QLD have got rid of certificate of title's altogether so there may not be one.

Best of luck with your construction project! You might find these construction tips helpful.
Otto Dargan
Mortgage Broker
P | 1300 889 743
Home Loan Experts

User avatar
Otto Dargan
Mortgage Specialist
Posts: 7730
Joined: Sat Sep 06, 2008 5:55 pm
Location: Sydney, Australia
Contact:

Re: Stamp duty question

Post by Otto Dargan »

Hi

There should be no stamp duty on the construction loan. Thanks
Otto Dargan
Mortgage Broker
P | 1300 889 743
Home Loan Experts

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