NBS Home Loans Thanks You For Another Great Year In 2019!
By Martin Walmsley, Principal Mortgage Broker.
2019 has been a huge year for NBS Home Loans! We launched a new website packed full of features, welcomed new staff members to our growing team, and met thousands of wonderful members of our community at events such as the Sydney Home Show and St Ives Food and Wine Festival. Most importantly, we helped over 80 new individuals and families to get a great deal on their home or business loan.
I’d like to take this opportunity to thank all of our clients for another great year and wish everyone a happy and safe festive season. May your New Year be filled with health and happiness!
Just a reminder that I am still available by phone and email over the Christmas and New Year period should you have any urgent enquiries. As always, you can reach me by email at marty@nbshomeloans.com.au, or on 0434 103 326 or 1800 NBS LOAN.
Our New NBS Home Loans Website Is Live
Your One-Stop-Shop For Home, Investment And Business Loans
In late October we unveiled our brand new website.
If you are in the market for a new home, investment or business loan, or you are considering refinancing, our website is a great place to start. This website is packed full of useful information, including FAQs, information about our team, loan calculators to help you get a clear picture of your financial position and compare a range of scenarios, and finance articles blog articles featuring important news and information for borrowers.
SMALL BUSINESS FINANCE TOOLS
Making Business Finance Fast And Easy
With the introduction of our new DIY Business Loan feature, business owners can now enjoy fast, easy online application on small business loans of
$5K to $300K, with funding possible in 24 hours to approved applicants.
This new feature can be found here on our website in the Business Loan section. Simply submit your details and we’ll call you back right away to answer any questions you have and complete the application process with you.
Not All Lenders Are Equal
Speak To us Before Making Your Final Offer On A Home
Maximising the amount you can borrow isn’t about trying to take on unmanageable levels of debt. It’s a matter of taking a few simple but smart steps now that can mean the difference between toiling away in a ‘fixer-upper’ or owning your dream home. In addition, different lenders define income in so many different ways, so it pays to use an experienced broker who knows their way around what can be included with each lender and what can’t.
Even if you have an existing loan pre-approval (also known as an Approval in Principle or Conditional Approval) in place from your bank or financial institution, it’s worth talking to us before making your final offer.
With over 20 years of experience in the finance sector and access to a huge range of loans from over 40 lenders, we can help you find the right loan for your individual needs and circumstances.
First Home Buyers Deposit Scheme
Normally, borrowers need to save a 20% deposit to avoid paying Lenders Mortgage Insurance. (Also known as LMI, this type of insurance that protects the lender – not the borrower – against the risk of not being able to recover their loan.) For many people, the high cost of living means it can be difficult to save a large enough deposit to avoid paying LMI when entering the property market.
Under the First Home Loan Deposit Scheme, however, you may be able to avoid paying LMI if you have saved a deposit of just 5%, potentially saving you tens of thousands of dollars in LMI costs The Government acts as the guarantor for the remaining 15% of the deposit.
While some details of the scheme are still being finalised, here is what we know at the time of writing:
The scheme will support up to 10,000 loans each financial year, starting from 1 January 2020. This means up to 10,000 eligible first home buyers may be able to participate.
To participate in the scheme, you’ll need to meet eligibility criteria including the following:
You must be a first home buyer.
You must be earning under $125,000 per year for single borrowers, or $200,000 combined for couples.
The mortgage will need to be an owner-occupier loan (i.e. not an investment property) with principal and interest repayments.
Of course, you’ll still need to meet normal lending criteria to ensure you are eligible for the loan and can meet the repayments.
In Sydney, the property must be valued at or under
$700,000. Different price caps apply to other areas.
Only two of the ‘Big 4 Banks’ will be participating in the scheme: Commonwealth Bank (CBA) and National Australia Bank (NAB). CBA will start accepting applications from 2 January 2020, and applications can be made either directly through CBA or through a CBA-Accredited Finance Broker such as NBS Home Loans. First home buyers wishing to take out a loan with NAB under this scheme will need to apply directly through NAB from 1 January, as the NAB offering will not initially be available through brokers. NAB and CBA together will not be permitted to facilitate more than half of the 10,000 guarantees available.
An additional 25 smaller lenders will begin participating in the scheme from 1 February 2020. These non-major lenders will collectively receive at least 50% of the 10,000 guarantees allocated for the year.
It’s worth keeping in mind that there are currently a number of other incentives available to first home buyers in addition to this scheme. In NSW, these include stamp duty concessions or exemptions and grants to assist with new builds.
Visit www.firsthome.gov.au for more information.
If you’d like more information about the First Home Buyers Deposit Scheme, please call us on 0434 103 326 or 1800 NBS LOAN or visit https://www.nhfic.gov.au/what-we-do/fhlds/
We'd Love Your Feedback
Our goal is to provide outstanding service to all of our clients. If you’ve been happy with NBS Home Loans, please help us spread the word by leaving a review.
COMMUNITY FUNDRAISING
Raising money for your school, community or sports group? We can you reach your goal faster!
It’s simple! Whether you are a new or existing client, join our Community Referral Partners program for free, then let your group members know to contact NBS Home Loans if they are thinking of borrowing or refinancing.
For each of your members who settles a home loan through NBS Home Loans, we’ll make a donation of up to
$500 back to your organisation to say thank you and help support the work you do in the community.
Terms, conditions and eligibility criteria apply, so please call 1800 NBS LOAN or 0434 103 326 for further information.
WHAT OUR CLIENTS ARE SAYING
“Most transparent mortgage broker you will ever get to meet. Everything that you need to make the decision is disclosed to you (the commission they get, any referral they pay, the benefits you get, and also the charges you may have to pay when you leave). Very confident and experienced person, knows what he is talking and you’d find him to be more professional than the banks themselves!”