Loans for All Australians

Australian Home Loans With NBS Home Loans

Australian Home Loans With 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?

  • 20+ years experience allows Marty to draw on extensive knowledge and know how to ensure when we present the case for a Home Loan to a bank it has the highest chance of being approved at the first submission
  • 20+ years experience allows Marty to work with the client to ensure they are in a position to apply through to approval and settlement
  • Also, 20+ years experience of knowledge and background allows Marty to know what banks will look at and questions they will ask

What kind of home loans are there?

  • Investment vs owner occupied
  • General rule fixed vs variable are the two types of home loans
  • Packaged vs basic (package usually bundles a credit card and offset account and gives discounted insurance and annual fees – free redraw and free renegotiation of loan with no fee costs
  • Package loans have all the bells and whistles with many different extras and discounts involved
  • A non-packaged loan is called a basic loan – they may involve lower costs however any additional uses for offset accounts or redraws attract fees each time they are used or sometimes even monthly fees

Are the two kinds of home loans fixed and variable?

  • Variables move with the rate increase and reductions brought on usually by reserve bank changing the official cash rate
  • Fixed rates remain at a set rate over a predetermined period of time with restrictions on additional repayments
  • The Reserve Bank manages the official Australian cash rate.  Banks source funding from numerous places; the short term money market, deposits, at times overseas and 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
  • However, the cost of funding changes on a daily basis with the right negotiation you will be able to get potentially larger discounts if asking the right bank at the right time

Your Home Loan

Working with you, side by side, acting on your behalf

Can I use a Home Loan to renovate my home and also my investment property?

  • Yes, however as alterations are being made to the banks’ security (the home) the bank may put restrictions in place.  For example, a staggered drawdown method to protect their interest in their property asset – remember it’s theoretically theirs until you have fully paid for it.  (A staggered drawdown is when large work is done on a property and is done in stages.)
  • Builders require payments in stages usually for any work over $20,000.
  • HIA require a building contract legally (non-negotiable) and larger works are usually project managed, hence paid in milestone payments 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.

How much can I usually borrow for a Home Loan?

  • Up to 95% property value general rule
  • Smaller deposit the harder the loan is to get approved
  • 100% home loans – up 105% home loans were available up until the GFC, however, banks no longer offer 100% home loans and have not done since that event
  • With a parental guarantee or a family pledge, this MAY be an option

Your Home Loan

Working with you, side by side, acting on your behalf

Can I use a Home Loan to renovate my home and also my investment property?

  • Yes, however as alterations are being made to the banks’ security (the home) the bank may put restrictions in place.  For example, a staggered drawdown method to protect their interest in their property asset – remember it’s theoretically theirs until you have fully paid for it.  (A staggered drawdown is when large work is done on a property and is done in stages.)
  • Builders require payments in stages usually for any work over $20,000.
  • HIA require a building contract legally (non-negotiable) and larger works are usually project managed, hence paid in milestone payments 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.

How much can I usually borrow for a Home Loan?

  • Up to 95% property value general rule
  • Smaller deposit the harder the loan is to get approved
  • 100% home loans – up 105% home loans were available up until the GFC, however, banks no longer offer 100% home loans and have not done since that event
  • With a parental guarantee or a family pledge, this MAY be an option

What Is Considered In My Eligibility For A Home Loan?

Follow 5 C’s of Credit

The 5 C's of Credit

  1. Character – relates to spending and savings history – employment living history asset position
  2. Capacity – In simple terms money coming in versus money going can you service your debt commitments plus this proposed commitment at a “sensitised rate”? “Sensitised rates” do not asses on current rates, they assess you on a benchmark rate of 7-7.5% currently under review by APRA
  3. Capital – What the client has personally invested in the transaction i.e. clients’ deposit
  4. Conditions – the purpose of the loan – why is the client seeking finance
  5. Collateral – the security that is provided loan which guarantees repayment ie banks level of risk in the event of default – housing loans bricks and mortar a house there is no other security or they would not be a housing loan

I am an owner/builder and need a home loan? Am I elligble?

  • There are banks who cater to owner-builders however each bank has unique sets of restrictions and criteria in this case

We Found The Perfect Property

We need a loan FAST

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 paid by banks we charge a fee to assist

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

Can younger Australians and millennials afford a home now?

  • The media says they will not be able to…
  • With the right behaviours and planning, it is actually a yes with the right expectations
  • However, if you are looking at living in a suburb like Wahroonga and expecting to pay $600k for a $4mil property, expect to buy an expensive property; you need to have sensible expectations of your borrowing power
  • This is this why you need a financial broker

Can younger Australians and millennials afford a home now?

  • The media says they will not be able to…
  • With the right behaviours and planning, it is actually a yes with the right expectations
  • However, if you are looking at living in a suburb like Wahroonga and expecting to pay $600k for a $4mil property, expect to buy an expensive property; you need to have sensible expectations of your borrowing power
  • This is this why you need a financial broker

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. How can NBS Home Loans help?

We’re getting older now and our house is too big. How can NBS Home Loans help?

Property Investor Home Loan Information

Why would a savvy investor use NBS Home Loans to secure ongoing property portfolio investment?

  • A long term relationship where we can grow your portfolio the right way strategic way say level service that makes or costs us money

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

I want to buy a new home but it is also going to need renovating, can I get extra in the home loan to do this?

Or can I wait until there is enough equity to then renovate?

Should I use equity to renovate?

  • Providing equity is available, yes!

How long should I wait to renovate?

  • This is a case by case basis requiring tailored advice – SPEAK TO US NOW

Catering For All Home Loan Needs

Making Bank Speak, People Speak.  NBS Home Loans.

New Permanent Residents In Australia Applying for an Aussie Home Loan

I Am Relatively New To Australia

There are many factors to consider if you are seeking a home loan and you are a new resident.  Click on some of the most common questions right to get your answers.

Not seeing your question answered?

CALL US NOW TO GET ANSWERS TO YOUR QUESTIONS!

Can someone be a guarantor for me for a Home Loan?

A family member can be a property guarantor in most cases however an income guarantor is limited generally to a spouse and banks have strident restrictions

Does the income of all members living with me influence my ability to secure a loan?
  • Only the income of the applicants securing the finance is usually taken into consideration
If I am a new resident to Australia does this impact on my ability to secure a home loan?
  • That will your credit score.
  • Being a new resident will more than likely influence your credit rating or Credit File Score (credit file zero to 1200 score by credit history – Equifax)

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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