PRLog (Press Release) –
May 03, 2008 – Thousands of first home buyers are at risk of losing government housing grants because of avoidable yet common mistakes, warns Sydney financial planner Gabriel Nakhl of
http://www.GNFinance.com.au
The government grant has made a big difference to many people in terms of whether they are actually in a position to purchase a new home.
Many young people however are unknowingly making themselves ineligible to receive the grant.
Financial planner Gabriel Nakhl, Director of
http://www.GNFinance.com.au explained it like this “The first of these mistakes is when parents go guarantor for their kids and the guarantor goes on the first home buyer’s title. Usually this means the children are not eligible for the grant.
“Secondly, when parents sell a house to their kids at a low price, when the kids buy a separate home they’ve already lost their grant on the first home.
“Finally, when a person is buying a first home with a partner and that partner has previously owned a property then usually the entitlement is lost”.
Mr Nakhl went on to say “financial planning is a highly regulated industry, so there are solid safeguards to protect clients. It’s very important to get the right advice. Look for financial planning companies websites that have links to the major banks. An example might be Sydney financial planning company
http://www.GNFinance.com.au
That way you know that the financial planner you are investigating can actually provide you with all the best options”
More information can be found at the website listed below or by calling 1300 GN FINANCE
