Home Loans for All Australians

NBS Home Loans

Home Loans For All Australians

NBS Home Loans

NBS Home Loans

A Refreshing New Change In The Finance Broker Market

What unique perspectives and leverages does NBS Home Loans bring to Home Loans?

  • With 20+ years experience Marty knows exactly what lenders are looking for and what questions they will ask.  This allows Marty to work with our clients to ensure they are in the best possible position before applying for a home loan, or any other loan, ensuring their application has the highest chance of being approved at the first submission.
  • Marty gained extensive experience as a bank lender before moving into the independent finance broking space.  Marty is able to translate ‘bank speak’ into plain, understandable language, and he takes the time to fully explain the different products and features available.
  • At NBS Home Loans, we build genuine, ongoing relationships with clients.  Unlike the banks and large loan franchises, our clients are not simply a number.  NBS Home Loans continue to work with clients throughout the entire life-cycle for their loan and beyond, through regular reviews and check-ins.

What kinds of documentation do I need to supply for a Home Loan with NBS Home Loans?

Each lender has different requirements and we will guide you through the requirements for your particular loan application. At a minimum you will need:

  • Identification: this is usually photo ID such as a driver’s license or passport, along with secondary ID such as a Medicare card or rates notice.
  • Income documentation: This may be tax returns, BAS statements, or payslips depending on your employment situation and whether you are self-employed.
  • Bank statements showing 3 – 6 months of your transaction history: We make this easy for you by offering the option for you to directly upload these documents from your internet banking facility.
  • You’ll also be required to complete a questionnaire outlining your situation and requirements.

What should you consider when choosing a financial broker for a home loan?

  • Google them! Be sure to read reviews and see what others are saying.
  • Look for someone experienced. You can check the currency and length of their ABN registration through the Australian Business Register, and view their LinkedIn profile for information about their experience and background.
  • Research thoroughly and look for someone who is a good fit for you! This is crucial to your success.

Why should you use a financial mortgage broker instead of a bank for a home loan?

  • Unlike banks, mortgage brokers have access to multiple lenders and cater to multiple situations. Mortgage brokers are a one-stop-shop option.
  • A bank only has access to its own products, which can be quite limited. A broker has access to a range of products across many lenders and can help you find a loan that closely fits your needs.
  • A “bank says no” or general “no” from one lender might not necessarily mean a no from another. Each lender has its own set of policies and its own niche in the market. A mortgage broker can help you find a lender who is a fit for your particular circumstances.

What are the common complaints people have when dealing directly with banks for home loans?

  • Turn around times: If time is of the essence, a broker can help identify lenders with faster turnaround times.
  • Hidden costs: Your broker can explain the costs upfront and make sure you understand what you are getting.
  • Incorrect product placement: Banks can only provide their own products. A broker can compare a range of options across many lenders to help find a good fit.
  • Poor service: With banks, staff turnover can be high and you may end up speaking to several people. Your dedicated broker can assist you every step of the way.

Your Leading Home Loan Provider

Working with you, side by side, in your best interests

What Kinds Of Home Loans Are There?

When it comes to home loans, there are many options to choose from. Marty will take the time to understand your requirements and help you find the right loan for your needs. The main home loan types can be broken down into the following categories:

Investment vs Owner-Occupied Home Loans

As the name implies, the difference between these two loan types relates to what the loan is being used for. If you are purchasing a property to live in, this will usually be an owner-occupied loan. If you are purchasing a property for investment purposes or to rent out, this will usually be an investment property loan. Investment loans will usually attract a higher interest rate than owner-occupied loans.

Fixed-rate vs Variable-Rate Home Loans

With a variable-rate home loan, your interest rate can go up or down at any time. Rate changes are usually influenced by the Reserve Bank of Australia increasing or decreasing the official cash rate, however, rates can also change independently of Reserve Bank changes*. Variable-rate home loans tend to be more flexible in allowing you to make extra repayments, redraw surplus funds, and refinancing your loan.

* The Reserve Bank manages the official Australian cash rate.  Banks source funding from numerous places; the short term money market, customer deposits, and overseas institutions. The cost of funding varies from bank to bank, hence they may not pass on the full interest rate reduction recommended by the Reserve Bank to clients. 

Fixed-rates loans remain at a set interest rate for a predetermined period of time (usually 1 – 5 years). This means your loan will not be affected by rising interest rates during the fixed-rate period, but you also will not get the benefit of any interest rate cuts. Fixed-rate loans are generally less flexible and have restrictions on making additional repayments and redrawing from the loan, but offer the certainty of set repayments during the fixed-rate period. 

Packaged Loans vs Basic Loans

Packaged loans come with all the bells and whistles, and usually attract a set monthly or annual fee. This fee generally gives you access to a ‘bundle’ of other free or discounted products (such as a fee-free credit card, fee-free linked offset account, and/or discounts on building and contents insurance premiums), as well as additional loan features (such as free redraw access). 

A non-packaged loan is called a basic loan. Basic loans tend not to have ongoing monthly or annual fees, however additional products (such as offset accounts) or features (such as redraws) attract fees for use.

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Image of young family in their new home brokered by NBS Home Loans
Image of Australian family, mum, dad and daughter - representing NBS Home Loans customers seeking Best Home Loans Sydney and Australia

How Much Can I Usually Borrow For A Home Loan?

  • How much you can borrow will depend on a range of factors, including your income, assets and liabilities. NBS Home Loans can help you determine your borrowing capacity by looking at your overall financial position.
  • As a general rule, it is possible to borrow up to 95% property value in many cases. However, the smaller your deposit, the harder it can be to get the loan approved and the pool of lenders willing to consider it will be smaller.
  • With a parental guarantee or a family pledge, it MAY be possible to borrow more depending on your circumstances.
  • Home loans of up to 105% of the property value were available up until the GFC, however, banks no longer offer 100% or above home loans and have not done since that event.

Can I Use A Home Loan To Renovate My Home Or Investment Property?

  • Yes. However, as the lender uses your home or investment property as security for the loan, they may put conditions or restrictions in place when you make alterations to the home.  For example, they may require a staggered drawdown method to protect their interest in the property – remember it’s theoretically theirs until you have fully paid for it!  A staggered drawdown is used when significant work is being done to a property and it is paid for in stages, with funds from the loan being released in stages.
  • For any work costing over $20,000, staggered payments to builders are usually made at each stage of completion. This also helps the builder manage their own finances as they buy materials and pay for labour. It protects everyone.
Image of young family in their new home brokered by NBS Home Loans

Your Leading Home Loan Provider

Working with you, side by side, acting in your best interests

What Kinds Of Home Loans Are There?

When it comes to home loans, there are many options to choose from. Marty will take the time to understand your requirements and help you find the right loan for your needs. The main home loan types can be broken down into the following categories:

Investment vs Owner-Occupied Home Loans

As the name implies, the difference between these two loan types relates to what the loan is being used for. If you are purchasing a property to live in, this will usually be an owner-occupied loan. If you are purchasing a property for investment purposes or to rent out, this will usually be an investment property loan. Investment loans will usually attract a higher interest rate than owner-occupied loans.

Fixed-rate vs Variable-Rate Home Loans

With a variable-rate home loan, your interest rate can go up or down at any time. Rate changes are usually influenced by the Reserve Bank of Australia increasing or decreasing the official cash rate, however, rates can also change independently of Reserve Bank changes*. Variable-rate home loans tend to be more flexible in allowing you to make extra repayments, redraw surplus funds, and refinancing your loan.

* The Reserve Bank manages the official Australian cash rate.  Banks source funding from numerous places; the short term money market, customer deposits, and overseas institutions. The cost of funding varies from bank to bank, hence they may not pass on the full interest rate reduction recommended by the Reserve Bank to clients. 

Fixed-rates loans remain at a set interest rate for a predetermined period of time (usually 1 – 5 years). This means your loan will not be affected by rising interest rates during the fixed-rate period, but you also will not get the benefit of any interest rate cuts. Fixed-rate loans are generally less flexible and have restrictions on making additional repayments and redrawing from the loan, but offer the certainty of set repayments during the fixed-rate period. 

Packaged Loans vs Basic Loans

Packaged loans come with all the bells and whistles, and usually attract a set monthly or annual fee. This fee generally gives you access to a ‘bundle’ of other free or discounted products (such as a fee-free credit card, fee-free linked offset account, and/or discounts on building and contents insurance premiums), as well as additional loan features (such as free redraw access). 

A non-packaged loan is called a basic loan. Basic loans tend not to have ongoing monthly or annual fees, however additional products (such as offset accounts) or features (such as redraws) attract fees for use.

How Much Can I Usually Borrow For A Home Loan?

  • How much you can borrow will depend on a range of factors, including your income, assets and liabilities. NBS Home Loans can help you determine your borrowing capacity by looking at your overall financial position.
  • As a general rule, it is possible to borrow up to 95% property value in many cases. However, the smaller your deposit, the harder it can be to get the loan approved and the pool of lenders willing to consider it will be smaller.
  • With a parental guarantee or a family pledge, it MAY be possible to borrow more depending on your circumstances.
  • Home loans of up to 105% of the property value were available up until the GFC, however, banks no longer offer 100% or above home loans and have not done since that event.

Can I Use A Home Loan To Renovate My Home Or Investment Property?

  • Yes. However, as the lender uses your home or investment property as security for the loan, they may put conditions or restrictions in place when you make alterations to the home.  For example, they may require a staggered drawdown method to protect their interest in the property – remember it’s theoretically theirs until you have fully paid for it!  A staggered drawdown is used when significant work is being done to a property and it is paid for in stages, with funds from the loan being released in stages.
  • For any work costing over $20,000, staggered payments to builders are usually made at each stage of completion. This also helps the builder manage their own finances as they buy materials and pay for labour. It protects everyone.

We Found The Perfect Property to BUy A New Home

We need a loan FAST

I want to buy a new home but it is also going to need renovating. Can I borrow extra funds in the home loan to do this?

If there is enough equity in the property to cover the extra funds, then yes! This is possible. However, if the amount you need to borrow is too close to the total cost of the property, you may need to wait until you have built up sufficient equity to borrow the extra funds. This will normally need to be determined on a case by case basis requiring tailored advice – CALL US RIGHT NOW!

We found the perfect property and we need finance FAST. How can NBS Home Loans help?

Yes, we certainly CAN!  CALL US RIGHT NOW!

We want to make an offer on a perfect home but have not sold our old one. Can we get a bridging loan with NBS Home Loans?

Yes, however, due to the way we are remunerated by lenders, we generally charge an upfront fee for assisting with this type of loan. CALL US RIGHT NOW to discuss your situation.

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Important Home Loan Information

What should you consider choosing a financial broker for a home loan?

  • Google them – find reviews, do thorough research
  • Experience and background check the currency of ABN etc CRN and look at the LinkedIn profile for a start
  • Research thoroughly; it is not something arbitrary, it is crucial to your success

What kinds of documentation do I need to apply for a Home Loan with NBS Home Loans?

  • As a general rules identification driver’s license – passport 
  • Income documentation tax returns pay slips
  • Bank statements
  • Rates notices depend on however different banks have specific documentation requirements we would let you know when that is the case and deal with that then

What are the common issues people encounter with home loans in your experience?

  • People don’t pay minimum requirements when circumstance change have not correct coverage and plans in place or savings in place to deal with it
  • We recommend paying over the minimum repayments all spare cash part of any surplus income should be used to reduce the amount owing to the bank consider this enforced savings

What are the complaints people have about dealing with banks for home loans specifically?

  • Turn around times
  • Hidden costs
  • Incorrect product placement
  • Poor service

Will it become more and more difficult to get a home loan in the future?

  • Affordability in the past 12 months increased – although housing affordability is still high it has become easier to buy a property due to falling houses prices and low-interest rates

Are Home Loans Available For Owner-Builders?

  • There are banks that cater to owner-builders, however each bank has a unique set of restrictions and criteria in this case.

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Family Home Loans

Why would you use a financial mortgage broker instead of a bank for a home loan?

  • Unlike banks, mortgage brokers have access to multiple lenders and cater to multiple situations; mortgage brokers are a one-stop shop option
  • If you are declined by a bank or do not qualify through your initial bank a broker has information to find a bank that may be able to asses

How can I mitigate risk when seeking a home loan?

  • Properly planning and protection in place

How can I ensure I will be able to make my repayments on my home loan?

  • Financial planning and budget control of spending
  • We are a finance broker, not a finance planner however we know some FANTASTIC financial planners who can genuinely help, advise and support you

My family is growing and I need to upsize my home. Can NBS Home Loans help?

  • If your family is growing and you need a bigger house, we can certainly help you. CALL US RIGHT NOW! 
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We’re getting older now and our house is too big. How can NBS Home Loans help?

  • Yes. In some cases. It may be appropriate to first speak to another finance professional such as an accountant or financial planner first, however we can definitely help point you in the right direction. CALL US TO EXPLORE YOUR OPTIONS NOW

Home Loans BEST TAILORED For Eligible Young Australians

Can Someone Be A Guarantor For Me On My Home Loan?

  • A family member can be a property guarantor in most cases. This means their own property is used as part of the security for your loan. However, an income guarantor (i.e. someone whose income is used to guarantee repayments) is limited generally to a spouse and banks have tight restrictions. Talk to us about your situation so we can explore your options.

Does The Income Of All People Living With Me Influence My Ability To Secure A Home Loan?

  • Only the income of the applicants applying for finance is usually taken into consideration. However, it’s worth noting that the number of financial dependants you have (usually children) will be taken into account in determining your borrowing capacity and whether you can service the loan.

Taking On A Mortgage Is A Big Step!  What Are Some Things You Can Do To Reduce Risk?

How can NBS Home Loans Help You Reduce Risk?

  • It’s important to plan properly and ensure you have adequate insurances and personal protection in place. As we are finance brokers and not financial planners, we can not assist with this directly but we can help point you in the right direction if you require further information. We work closely with some fantastic financial planners who can genuinely help, advise and support you.
  • Save as large a deposit as possible when purchasing a property. This means you need to borrow less and this provides a buffer against fluctuations in the property market so you don’t wind up owing more than the value of your property.
  • Having control of your budget and spending habits is important. We recommend paying above the minimum repayments where possible. All spare cash and part of any surplus income can be used to reduce the amount owing to the bank; Consider this enforced savings!
  • It also helps to build up a savings buffer. This can help tide you over for any short term unforeseen problems so you don’t miss any minimum repayments.
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What Is Considered In My Eligibility For A Home Loan?

Follow 5 C’s of Credit

The 5 C's of Credit

Brokers and lenders consider a number of factors when determining your eligibility for a home loan, including:

  1. Character – This relates to your spending and savings history, employment, living situation, credit history, and asset position.
  2. Capacity – Lenders need to know that you can afford to pay your existing commitments plus the proposed new commitment of a home loan. (This is known as ‘servicing’ the loan.) Lenders won’t just look at the repayments required at the current interest rate when calculating whether you can service the loan. Instead, they use a ‘sensitised’ or ‘assessment’ rate – a rate several per cent higher than the current rate – to ensure you can continue to make repayments in case of future interest rate increases.
  3. Capital – The lender will assess what the client has personally invested in the transaction, including their deposit.
  4. Conditions – This relates to the loan purpose. The lender will want to know why is the client seeking finance and what it is being used for.
  5. Collateral – Collateral (also known as security) is required to reduce the risk to the lender in the event that the borrowing defaults or stops paying their loan. With housing loans, the security is the home itself. The lender has the right to sell the property to recover the loan if required.
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Property Investor Home Loan Information

Why Should A Property Investor Use NBS Home Loans To Secure Ongoing Property Portfolio Investments?

NBS Home Loans offers a long term relationship. We can work with you to grow your portfolio in a strategic way. By understanding your goals and what you would like to achieve, we can make sure to structure your loans in such a way as to allow you to take advantage of additional opportunities in the future.

Are there any unique advantages NBS Home Loans brings to the table for property investors?

  • We have sound knowledge of the Australian property market, and personal as well as professional experience in property investments.
  • We have developed expert partnerships with buyers agents, accountants, solicitors, and real estate agents, giving you a competitive edge in the market.

Why Should A Property Investor Use NBS Home Loans To Secure Ongoing Property Portfolio Investments?

NBS Home Loans offers a long term relationship. We can work with you to grow your portfolio in a strategic way. By understanding your goals and what you would like to achieve, we can make sure to structure your loans in such a way as to allow you to take advantage of additional opportunities in the future.

Are there any unique advantages NBS Home Loans brings to the table for property investors?

  • We have sound knowledge of the Australian property market, and personal as well as professional experience in property investments.
  • We have developed expert partnerships with buyers agents, accountants, solicitors, and real estate agents, giving you a competitive edge in the market.

Are there any unique advantages NBS Home Loans brings to the table for property investors?

  • We have sound knowledge of the Australian property market
  • We have developed expert partnerships with buyers agents, solicitors and real estates giving you a competitive edge in market

Catering For All Australian Home Loan Needs

Translating Bank Talk Into Plain Language.  NBS Home Loans.

New Permanent Residents In Australia Applying For An Aussie Home Loan

I am a new resident of Australia.  Does this impact my ability to secure a home loan?

  • There are many factors to consider if you are seeking a home loan and you are a new resident.

  • Being a new resident will more than likely influence your credit rating or credit score, however, there also are many other factors that will determine whether you are eligible for a loan.

  • Speak to NBS Home Loans today about your circumstances.

Not Seeing Your Questions Answered Regarding The Best Fit For You Aussie Home Loans?

CALL US NOW TO GET ANSWERS TO YOUR QUESTIONS!

Secure Your FREE Consultation NOW

We can visit you at a time convenient for YOU.  After hours?  Yep!  Sure!!!

Secure Your FREE Consultation NOW

We can visit you at a time convenient for YOU; after hours?  Yep!  Sure!!!

Request A Call-Back

We’re Here To Help You At The Time Convenient To YOU.

Arrange a meeting with one of our loans specialists.  We can see you after hours and even at night.  AND it’s free for us to consult you.

 

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NBS Home Loans - Finance Broker Australia