Briefs: NSW overhauls First Home grant, Resi scouts for takeovers and NAB services cut

As widely forecast, the New South Wales Budget, which was handed down yesterday, includes significant changes to the state's First Home Owner Grant Scheme. From October 1 this year, the grant will increase from A$7000 to $15,000 for first-home buyers buying new properties worth up to $650,000. The grant will fall to $10,000 from 2014. Stamp duty concessions will apply to new properties worth up to $650,000. Non-first home buyers will be eligible for a $5000 grant if they buy a new house. First-home buyers who buy an established property will not be eligible for a grant after October 1.

Resi Home Loans is scouting for acquisitions among smaller mortgage managers. "We have no debt . . . and I think there's some opportunity out there, some organisations are struggling," the firm's CEO Lisa Montgomery told the Financial Review.

National Australia Bank experienced degraded electronic banking services for an hour or so around 6pm AEST yesterday. NAB confirmed "difficulties" accessing internet banking and Eftpos. Customers and the media (such as The Age) reported the issues extended to ATMs. NAB said it resolved the issues after an hour or so.