SYDNEY CONVEYANCING

24/05/2023

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Property Sale Conveyancing

PROPERTY SALE CONVEYANCING CALL: 02 6989 4656

24/05/2023

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Wollongong Area Conveyancing Service

Wollongong Conveyancing Services Fixed $1390 Buy or Sell Conveyancing. No hidden fees or charges. Visit: https://www.sydneyconveyancing.com.au/conveyancing-wollongong Call: 02 6989 4656

08/05/2023

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08/05/2023

Pre-purchase Contract Review - Be prepared to attend auction or sign the contract.

PRE-PURCHASE CONTRACT REVIEW Attending auction OR ready to sign the contract? Our pre-purchase contract review can help you understand, negotiate the contract such that you're ready to sign it. Call 02 6989 4656.

30/04/2023

PROPERTY TRANSFER IN NSW

Transfer Property to spouse, sibling, de-facto, business partner.
Transfer to spouse, children, sibling, business partner or Trust or from deceased person are the most common scenarios that we assist our clients with.
Stamp duty advice - Transferring a property interest to a family member or friend will be liable to pay stamp duty. Some transfers are exempt from stamp duty.
Mortgage approval & discharge - If there's mortgage on the property being transferred, it is discharged. Best to have a mortgage approval if you're receiving a property.
Transfer of whole or part property can be complex & expensive if not done right.
You don't have to visit our office usually. That's why we complete hundreds of matters across NSW every year.
Discuss your real estate transfer with SYDNEY CONVEYANCING to receive advice on aspects such as stamp duty.

https://www.sydneyconveyancing.com.au/nsw-property-conveyancers/property-transfer

17/04/2023

SYDNEY CONVEYANCING now covering Newcaslte and Hunter Valley region.

$1390 Fixed Fee Buy or Sell - Newcastle Conveyancing Services with no surprises. Newcastle and Hunter Valley Area Property Conveyancing. Call 02 6989 4656.

05/12/2022

It has been tough for first home buyers to secure a property in NSW in the last few years with property prices sky-rocketing and being unaffordable. The First Home Buyer Choice scheme is designed to lower the upfront costs of purchasing a home to increase the rate of home ownership in NSW for First Home Buyers. Stamp duty is a hefty sum for first-home buyers.

Fortunately, NSW Government has now announced changes to the property tax system to allow first-home buyers to choose between paying stamp duty or a smaller annual property tax. The New Scheme called First Home Buyer Choice commencement date is the 16th of January, 2023. However, the legislation was passed on the 10th of November 2022, allowing those purchasing a house from 12 November 2022 to 15 January 2023 to opt for the annual property tax. They will still be asked to pay stamp duty, but they can apply for a refund.

According to the 2022-2023 state budget, the New South Wales Treasurer has announced the following in relation to property and tax -

For first-home buyers who are purchasing a property up to $1.5 million will have the choice of either paying stamp duty or an annual property tax. This aims to incentivise a reduction in the up-front costs for first-home buyers in an effort to boost the rate of home ownership in NSW. As a result of the rising home prices, it has been extremely difficult for new, young or low-income groups to pe*****te the market with a drop of 6% in ownership since the 1990’s.

The idea behind this is that removing the obligation to pay stamp duty will lower the up-front cost and cut upwards of two years of time worth of saving towards buying a first-home. Additionally, stamp duty concessions for first-home buyers are available for purchases of up to $800,000 and will continue for the foreseeable future.

To be eligible:

you must be an individual (not a company or trust)
you must be over 18 years old
you, or at least one person you’re buying with, must be an Australian citizen or permanent resident
you or your spouse must not have previously:
owned or co-owned residential property in Australia
received a First Home Buyer Grant or duty concessions.
the property you are buying must be worth less than or equal to $1.5 million
you must move into the property within 12 months of purchase and live in it continuously for at least 6 months
you must sign the contract of purchase on or after 11 November 2022

Further information is available on - https://www.service.nsw.gov.au/transaction/calculate-your-property-tax

Information on how to apply for the property tax is available on Revenue NSW website OR you can discuss the same with us by calling us on 02 6989 4656.

16/06/2022

We are living in an age full of technology whereby professional services are being provided online now. E-Conveyancing being one such line normally referred and carried out as PEXA transactions - https://www.pexa.com.au/ . Cyber-crime and fraud are global concerns. Cyber fraud is defined as a cybercrime done through online networking designed to retrieve otherwise inaccessible private information and sometime direct access to bank accounts or money involved in a transaction.

As a result, many crimes can be committed such as fraud, online image abuse, identity theft and cyber threats. Cyber fraud targets everyone and attack the ones that allow access to secure information such as passwords. It is common for individuals, businesses, educational institutions and even government institutions to be attacked, accentuating the importance of protection as valuable information can be used to exploit.

An example can be seen in a hyperlink. This can be sent via email and is encrypted, clicking the link could provide the third-party access into your account and your private information such as your username and passwords. This could result in identity theft where the third party, unbeknown to the recipient, is acting untruthfully as someone else. This could lead to money being transferred into an incorrect account and the potential for that money to be lost forever as these third-parties, often called scammers, are exceptionally good at disguising themselves and covering any potential trails that might give away their own identity.

With cyber crime becoming increasingly prevalent, it is essential for everyone to be aware of potential scam. If you are transferring money into any account, it is urged that you confirm by phone to ensure the accuracy of the account details and minimise risk of falling risk to a cyber-crime. Additionally, if you are apart of any conveyancing process, your conveyancer or solicitor should always confirm the account details with you over the phone. If this hasn’t been done, do not hesitate to contact them and confirm everything is in order.

We at Sydney Conveyancing ( 02 6989 4656) ensure that not only our emails are protected but we also protect our clients Identification and other important document being received or sent. We understand the role we play in maintaining the security of the network to see that the transactions are done smoothly as Buying and Selling a home is an important time and we understand the stress that can be felt if and when things don’t go to plan.

11/05/2022

THINKING OF SELLING? NEED YOUR CONTRACT URGENTLY?
SYDNEY CONVEYANCING / Call 6989 4656
Visit https://www.sydneyconveyancing.com.au/nsw-property-conveyancers/selling-property

11/05/2022

In this Blog we are going back to the basics of Housing needs, interest rate and how different the rise of same can affect your borrowing needs and payments.

Interest Rates and its Effect on Housing -In recent times, Australia has experienced some of its lowest interest rates to date. As the same for all economic factors, speculators have suggested that there is potential for a rapid increase in the interest rate towards the end of this year.

Fixed-Rate vs Variable-Rate Home Loan - A fixed-rate home loan has a consistent interest rate that does not change over the loan period. This not only provides payment security adequate budget forecasting, but also mean that if the interest rates spike during your fixed-rate home loan period, your home loan will be unaffected.

Contrastingly, a variable-rate home loan changes over time. This suggests that your home loan rate will fluctuate in accordance with the rates set by the lender and your repayment costs will change as a result.

Current Economic Conditions - During the past few years, a 2 or 4-year fixed rate home loan offered at 2% interest were fairly common. However, nowadays it would be considered very lucky to find a 2-year fixed rate home loan offering 3.5% and subsequently, a 4-year fixed rate under 4%. This means that if you decide on a fixed rate, you are potentially paying a premium amount for the certainty of budget forecasting.

Moreover, many experts suggest that in the long run, a variable-rate home loan would potentially outperform a fixed-home loan as a result of the fluctuating economy. This means you would hypothetically pay more interest over time with a fixed loan rather than a variable loan. However, it should be noted that the market is an unpredictable indicator that can fluctuate, negatively impacting the interest rate and causing you to pay more.

Regardless, whether you are looking to purchase your first home or buying a rental property, the home loan is an important aspect to consider. You should keep tab on websites of RBA - https://www.rba.gov.au and your own bank where you intend to take loan from.

Thanks for reading. As always if you or anyone you know is thinking of getting started on their property journey or need any advice, give us a ring on 6989 4656. We'd love to show you why we are better than others in the field.

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