It’s Free to Speak to an Advisor
We help you with home loan solutions.
Stamp duty is a major expense when buying property in Queensland. It can cost thousands of dollars upfront–money that could be better spent on your deposit, renovations, or even reducing your mortgage repayments.
But here’s the good news: from 1 May 2025, eligible first-home buyers in QLD may no longer need to pay stamp duty on new homes or vacant land.
This sounds like a huge win, and it is–but only if you qualify. Many buyers unintentionally disqualify themselves due to small but costly mistakes, like renting out their property too soon or structuring their loan incorrectly.
This is where a Queensland mortgage broker from Unconditional Finance can make a big difference. They don’t just secure a loan; they help ensure you meet all exemption criteria while maximising your borrowing capacity. With the right approach, you may be able to save thousands on stamp duty and qualify for a larger home loan with competitive terms.
Under the Queensland Government’s First Home Concession Scheme, first-home buyers may avoid stamp duty entirely if they:
Previously, stamp duty exemptions only applied to homes under $500,000, with partial concessions up to $550,000. Now, there’s no price cap—meaning a first-home buyer purchasing a $750,000 home may be able to save around $20,000–$25,000 in stamp duty, depending on eligibility.
However, the exemption isn’t automatic. Buyers must strictly follow eligibility rules, including:
This is where home loans and lender policies can get tricky. Some mortgage products can affect your eligibility for government incentives, and getting it wrong could mean losing thousands in benefits.
Eliminating stamp duty from your upfront costs can help improve your financial position, which may increase your borrowing capacity.
More savings mean you can put down a larger deposit, reducing your Loan-to-Value Ratio (LVR) and securing better interest rates.
Lenders Mortgage Insurance (LMI) applies when borrowing more than 80% of a property’s value. Using stamp duty savings toward your deposit may help reduce or even eliminate LMI costs, depending on your loan-to-value ratio (LVR).
Banks assess how much you can borrow based on your upfront costs, savings, and income stability. A mortgage broker QLD ensures your savings work in your favour when applying for a loan.
For example, a buyer who saves $20,000 in stamp duty could add it to their deposit, lowering their LVR from 90% to 85%. This not only reduces interest costs but could also increase their borrowing capacity by tens of thousands.
Lenders look at more than just income when determining how much you can borrow. Your credit score, spending habits, and existing debts all impact your loan approval. A mortgage broker helps by:
Not all lenders calculate borrowing power the same way. Some are stricter with serviceability assessments, while others offer more flexibility for first-home buyers. A broker:
For buyers in competitive QLD property markets, this could make a significant difference in borrowing power and property options.
The way your mortgage is structured directly affects how much you can borrow and how manageable your repayments are. A Queensland mortgage broker helps you:
A well-structured loan isn’t just about increasing borrowing power—it’s about finding a balance that suits your financial situation.
A Queensland mortgage broker does more than find you a loan – they help structure your financing in a way that may support eligibility for government benefits. Here’s why that matters:
With a broker guiding the process, you’re not just getting a home loan – you’re getting a mortgage that may be structured to optimise savings and financial benefits.
Not fully. In Queensland, if one buyer qualifies for the First Home Concession Scheme and the other does not, the exemption may only apply to the first-home buyer's share of the property.
The portion owned by the non-first-home buyer will likely still attract standard stamp duty rates. A mortgage broker can explain ways to structure ownership that may help reduce costs and maximise potential savings.
Not necessarily. While skipping stamp duty can reduce upfront costs, lenders still expect borrowers to have genuine savings when applying for a mortgage.
Most banks require a minimum deposit of 5-10% of the property price, and avoiding stamp duty doesn’t replace this requirement. However, it may help lower the total upfront amount needed, allowing you to put more money toward your deposit instead.
It might. Self-employed applicants often face stricter income verification requirements, and some lenders may not accept irregular income patterns.
However, certain lenders offer higher borrowing limits to self-employed buyers who can show stable earnings over the past one to two years. A mortgage broker may connect you with lenders that have more flexible income requirements, which could help you qualify for a higher loan.
Most likely, yes. The exemption generally applies based on when the property contract is signed, not when your loan is approved. If your contract is dated on or after 1 May 2025, you may qualify for the exemption.
If you're planning to buy soon, a mortgage broker may guide you through your options and help you time your application so you don’t miss out on potential savings.
Not always. Lenders review your income, expenses, and debts to determine how much you can borrow. Even if you qualify for a higher loan amount, you may not receive approval for the maximum amount.
Some lenders cap borrowing limits based on repayment risk, especially when interest rates fluctuate. A mortgage broker may find lenders suited to your financial situation, which could improve your chances of securing a loan with manageable repayments.
If you’re ready to explore your options with home equity loans or have questions about how to best utilise your home’s value, contact Unconditional Finance today. Our team of experienced professionals is here to provide personalised advice and support tailored to your financial goals.
The Queensland stamp duty exemption is a huge opportunity, but it requires careful planning. A mortgage broker ensures you qualify for exemptions, increase your borrowing power, and structure your home loan to protect your savings.
If you’re looking to buy in QLD, now could be a good time to plan ahead. Speaking with a mortgage broker may help you explore home loan options and take advantage of available exemptions before market conditions change.
Use one of our many calculators to help you better manage your finances.
Loans By Profession
