Hello My friend and I bought a large block of land ($595k) in Canberra that is approved for subdivision and dual occupancy. e jointly (50% each) own the land and settled on the land by having a loan from a bank. As a dual occupancy, I plan to live in one premise (owner-occupier) and my friend want to rent out (investment) the other premise. Our DA application for dual occupancy was approved in March 20. We have been working with a lender to get building construction loan since April 20. Our lender was preparing one single loan (of investment type) for the entire construction of dual occupancy with total construction cost of $810k (50% each) or each premise will cost $405k. As Homebuilder grant is announced yesterday, I am eligible for the grant (income is fine, want to stay on the property, citizen, total cost of half of land and one premise is under $750k, citizen etc) however, my friend is not eligible. Our lender advised that this loan application will not affect me getting the grant even though it is one loan of investment type. the lender can't split the loan by investment type and owner occupier type. After further discussion, he was indicating that we may need two building contract and two loan applications of two types but he is not sure if he can do that as we jointly own one land. He believes that the grant is not dependent on what type of loan we took from bank. As long as I have money for construction and I am living in the property that I am going to build, he believes that government will never use the bank loan type to determine 'the principle place of my residence'. Therefore, he suggests to go ahead with the loan application (as an investment loan). in this situation, can someone advise what to do?