First home buyers $5,000 vouchers
5 x $5,000 F.H.B deposit vouchers up for grabs
How it works
- 1. Sovereign Hills Sales Pty Ltd in conjunction with the Sovereign Hills Display Village builder group is pleased to offer up for grabs five (5) $5,000 House & Land deposit vouchers.
- 2. The deposit voucher will be given to the first five (5) first home buyers who purchase House & Land through the Sovereign Hills Land Sales Centre and Display Village builder group within the promotional period (commencing 5 July 2018 and ending on 21 December 2018).
How to enter
- 1. Check that you meet NSW State Government FHB grant eligibility criteria. Details can be found at http://www.revenue.nsw.gov.au/grants/fhog
- 2. Talk to your lender’s home loan specialist to assess your current financial position and to create a personalised purchase plan.
- 3. Visit the Sovereign Hills Land Sales Centre and Display Village to choose your land and favourite affordable home design.
- 4. Be one of the first five (5) to confirm your House & Land purchase with the land sales centre and claim your $5,000 FHB deposit voucher.
Terms and Conditions
- 1. This competition is a promotion conducted by Sovereign Hills Sales Pty Ltd ABN 42 001 110 345 (“Promoter”) in conjunction with the Sovereign Hills Display Village.
- 2. Entries and information regarding the $5,000 FHB deposit vouchers giveaways and how to enter form part of these Terms and Conditions. Entrants that don’t comply in accordance with the competition eligibility and Terms and Conditions are ineligible. Participation in this competition constitutes acceptance of these Terms and Conditions.
- 3. The competition is open to Eligible Applicants being those who:
a) are First Home Buyers (FHB) as defined by NSW State Government FHB grant eligibility, see: http://www.revenue.nsw.gov.au/grants/fhog &
b) enter into a contract to Purchase vacant land from Sovereign Hills Sales (PM Land Pty Ltd ACN 602 713 771) &
c) enter into a contract to build with a participating Sovereign Hills display village builder &
d) are the first five (5) to meet the three (3) above criteria within the promotion period commencing 5 July 2018 and ending 21 December 2018
- 4. A maximum of five (5) winners will receive one (1) $5,000 House and Land deposit voucher. Accordingly, this promotion may end before the specified end date of 21 December 2018. The deposit voucher must be applied at the time of completion of initial land purchase against the cost of the land purchase.
- 5. The deposit vouchers are not transferable to any other parties or redeemable for cash.
- 6. In regards to FHB eligibility, the claimant of a voucher is required to complete the promoter’s FHB eligibility statutory declaration form before receiving the voucher and agrees to the promoter conducting its own verification with the Office of State Revenue.
- 7. In the event that the initial claimant of a $5,000 House & Land deposit voucher cannot complete the purchase for any reason, the Promoter may cancel the deposit voucher and offer a new deposit voucher to the next eligible entrant based on date of initial land purchase.
- 8. Normal purchase terms and conditions apply to all purchases of land and homes through the land sales centre and the display village builder group respectively. Please see the land sales consultant and respective display village builder for the normal purchase terms and conditions before considering any land or home purchase.
- 9. Employees of the Promoter and related entities of the Promoter (including employees, agents, directors and contractors), and employees and immediate family members of the Sovereign Hills Display Village builders are ineligible to enter.
- 10. As a condition of accepting the prize, the winner must present photo identification and sign any documentation reasonably required by the Promoter, including but not limited to a legal release and indemnity form.
- 11. The Promoter collects personal information from all Eligible Applicants in order to conduct the promotion. Eligible Applicants’ personal information may be disclosed to state authorities and the winner’s name published if required by law. A request to access, update or correct any information should be directed to the Promoter.
- 12. The name and photograph of the winner(s) will be used for promotional purposes by the Promoter and will be published on the Sovereign Hills website and social media accounts.
- 13. The information Eligible Applicants provide will be used by the Promoter for the purpose of conducting the competition and to periodically provide them with marketing information about the Promoter’s products and services. By entering this competition entrants consent to the use of their personal information for the purposes described in these terms.
- 14. Participating Sovereign Hills Display Village builders means those builders authorised by the Promoter and include: Adenbrook Homes, Better Homes and Developments, Coral Homes, Hotondo Homes, Integrity New Homes, McDonald Jones Homes, Perry Homes, Pycon Homes and Constructions, Sorensen and Caldon Builders, Stroud Homes and Vaughan Homes.
- 15. The Promoter is Sovereign Hills Sales Pty Ltd, 14 Sovereign Drive, Port Macquarie NSW 2444 ABN: 42 001 110 345 Telephone: 02 6581 1711.
Buy your first home for $540 per week
We have conducted some calculations
- 1. We’re not offering credit and we do not suggest that it is available on the terms set out below or at all.
- 2. You will need to speak to a lender about whether you would qualify for a loan from them.
- 3. But we think you may be able to own your own home with loan repayments of just $540 per week.
How it works
- 1. The “$540 per week”loan repayment takes into account the usual costs, fees/charges, NSW Government grants and your own funds that may be required to buy your first home. It is designed to provide you with an indication of just how achievable home ownership can be in the Sovereign Hills estate.
- 2. However, you will need to talk to your lender’s home loan specialist for a more personalised explanation as to whether such a loan may be available to you in your circumstances.
- 3. The weekly repayment figure “$540 per week” is just a guide. It may not reflect the actual repayment of your home loan. It may be more or less depending upon your own personal circumstances.
- 4. We have used an annual percentage rate of 4.5% in undertaking the calculation. The rate used by your lender in any loan contract may be higher or lower than that. Further, the rate may change during the life of your loan.
- 1. Please remember that in order to buy the house and land there have been a number of assumptions we have made and figures taken into account in calculating the repayment amount.
- 2. We have assumed you have your own funds of $29,500 and will require a loan of $456,000.
- 3. This factors in a price of $230,000 for a level Sovereign Hills block of land. We have also allowed $250,000 for the building of your new home through the participating Sovereign Hills Display Village builders. Your final build price will vary depending on your block selection and the type of home you wish to build.
- 4. The 4.5% nominal interest rate is assumed over the 30-year loan term. Remember however, that interest rates may and probably will go up and down over the life of the loan.
- 5. We have factored in $3,000 for legal costs, settlement adjustments and loan application/lenders fees allowance, including a $520 annual loan package bank fee. We have also included $12,500 for Lenders Mortgage Insurance.
- 6. $10,000 being a NSW State Government First Home Owners Grant (FHOG) allowance has been included. This is then added to your own funds of $29,500 to give you a deposit of $39,500.
- 7. Other fees and charges may be payable.
Risks and other matters
- 1. Some of the factors that will influence the cost of credit and the amount you pay include:
a) interest rates – they may rise
b) fees and charges – they may increase
c) building costs – they may be more than we estimate or may increase because of factors outside yours or the builder’s control
d) the government may change its policy in relation to the FHOG – it may be withdrawn.
- 2. Any one of these or any other factors may change the outcome.
- 3. We take no responsibility for any increase or change in the above matters as they are all matters outside our control.
- 1. We recommend you seek your own advice about whether you can afford the house and land package at Sovereign Hills or any loan you may require.