Ben Robinson in Melbourne, Victoria, Australia | Loan service

Ben Robinson

Locality: Melbourne, Victoria, Australia

Phone: +61 447 109 757

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• Financial service
• Loan service
• Mortgage brokers

25.01.2022 RBA Rate Cut What does this mean for me Does this mean I need to refinance Have I got the best rate relative to my situation... Which banks will pass on the cut All of the above are valid questions, however there is not a generic answer for any of these. The answers to these questions will be situational and specific to your circumstances. Things to be mindful of when rate cuts occur: Refinancing too quickly - we must wait for the dust to settle to ensure the lender and product selection is accurate. This can take up to 6-8-weeks for all lenders to adopt the changes in rates. Refinancing costs - there are always costs incurred in switching (discharge fee, application fees, mortgage registration, package fees, PEXA, etc). These must be factored in and part of the decision. Mortgage timeline - constantly refinancing and re-setting the 30-year term isn't always the best idea. By doing this, the minimum repayment is reduced, however more interest might be paid in the long-term. If you have refinanced in the past 12-months, it might not always be the best option to switch again so soon. Repricing with your exisiting lender - Variable rate customers can contact their lender and ask for a rate reduction. Banks are working hard on client retention so this is something that we can help you with to avoid the costs of switching lenders. If you'd like to have anything explained or for me to revise your current situation, please reach out when needed [email protected] 0447 109 757

22.01.2022 G'day Team, I'm launching a social media page to cover off on all things Finance related. Be sure to like and follow the page to stay to stay tuned. Plenty of informative content coming soon. Watch this space!

22.01.2022 The numbers don't lie. If you're finding it hard with your home loan or investment loan repayments, there are many lenders out there with great rates. These numbers below are based on a loan of $500,000 over 30 years principle & interest:... 4.0%: Ongoing repayments $2,387.08 PM 3.5%: Ongoing repayments $2,245.22 PM 3.0%: Ongoing repayments: $2,108.02 PM Based on the numbers above going on that the yearly savings @ 4% - 3.5% = $1,702 PY @ 4% - 3.0% = $3,349 PY There are many out there with cashback offers(up to $4,000) and with rates as low as 2.09%. Now is a great time to refinance, if you're considering doing it! For more information on these lenders, please give me a call 0447 109 757. www.inovayt.com.au

22.01.2022 Ripper weekend to be out and about in Melbourne. Enjoy your weekends, back into it Monday!

22.01.2022 Superannuation Should I take advantage of the early access to super scheme? We are receiving a lot of enquiries as to whether or not this is a good idea. We need to remember the purpose of the scheme is to provide financial assistance to those in financial hardship. There are pros and cons of accessing your super early, be sure to seek advice before you take any action.

21.01.2022 Bank X says I can only borrow $$$ but what about the others? Your borrowing capacity will vary depending on the bank. ... Every bank has its own set of requirements to determine your overall borrowing capacity and these can be better for some income types over others depending on the bank. Just because one bank says you can only borrow X does not mean that is the end of your goal. It may be that theyre currently not taking 100% of your income or theyre not correctly understanding your entire situation. Reach out if youd like to discuss in more detail. 0447 109 757 [email protected]

20.01.2022 Borrowing Capacity VS Deposit Level Whats holding you back? Borrowing capacity refers to the amount of money a Bank or Financial Institution will lend you, taking into account your expenses, current financial commitments and income.... Deposit Level is the amount of money required to cover your initial cash investment, along with any associated costs of achieving your intended purchase. Combine the above and you have what is known as your "Purchasing Power". Financial Institutions and Banks have limits on the amount of money they will lend you based on a combination of the above. The asset/security backing the loan, your current individual circumstances, financial commitments and cash savings will all affect your Purchasing Power. Whether you are a First Home Buyer , looking to purchase your next Investment Property , or wanting to buy a Commercial premises for your business , the above factors apply. If you wish to know how you are placed, please get in touch. Ben - 0447 109 757 https://www.inovayt.com.au/

20.01.2022 What a way to end a Financial year for this hard-working client! Congratulations Dan on your new Range Rover Sport delivered yesterday afternoon. For anyone thinking of upgrading their vehicle, please get in touch. ... Ben - 0447 109 757 [email protected]

18.01.2022 Have you dotted your "i's" and crossed the "t's? Are you getting close to purchasing your First Home or looking to set yourself up for that next Investment Property? Lending has become a lot more restricted over the past couple of years so its imperative all your ducks are in line prior to approaching the Bank for Finance ... For more information, please get in touch! - 0447 109 757 - [email protected]

17.01.2022 Refinancing traps to avoid Whether youre after lower repayments or want to tap into the equity sitting in your home, refinancing can offer a world of benefits. However it is important to be weary of some of the things that can not necessarily be in your favor. % Dont be fooled by the interest rate... Finding a lower interest rate doesnt necessarily mean youve scored yourself a better deal. In fact, a product with more features may cost you a bit more in fees or interest, but could save you more in the long run. Honeymoon rates are just that Dont be lured by offers with discounted introductory rates unless youve calculated the savings over the life of the loan. While a loan with a discounted interest rate seems a tempting offer, its only temporary. Once the introductory period is over, the interest will revert to a higher standard variable for the rest of the loan term. Be aware of the fees One of the main purposes of refinancing is to lighten the financial burden, however, that doesnt mean that its not going to cost you. There are many fees involved, which may include discharge and application fees, a valuation fee, land registration fee, and mortgage insurance. While these cannot be avoided, you have to ensure that the costs involved are not higher than the savings, to make the process worthwhile. While there are traps to avoid, a little expertise can take the stress out of refinancing to save you thousands, fund that renovation, or simply find a loan that suits your life a little better. Please give me a call to discuss the best financial solution thats right for you! Ben - 0447 109 757 https://www.inovayt.com.au/

17.01.2022 First Home Buyer alert Have you considered buying your First Home? Maybe you were considering this prior to the current COVID disruption and now have put things on the back-burner. ... Pushing all of the uncertainty and negativity aside, now is a fantastic time to make arrangements and to set savings goals to achieve this! A lot is finally going the way of the first home buyer and this week has been filled with conversations about that to those planning for their entrance into the property market! The Gov First Home Loan Deposit Scheme - Less than 20% Deposit, no worries. This scheme is helping those with as little as 5% deposit enter the property market for the first time. Australia -wide: (https://nhfic.gov.au/what-we-do/fhlds/). First Home Buyer Assistance Scheme - First home buyers receiving either full or partial exemptions on stamp duty. NSW: https://www.revenue.nsw.gov.au/grants-sche/first-home-buyer VIC: https://www.sro.vic.gov.au/first-home-owner First Home Owner Grant (New Home) - $10k (NSW) and up to $20k (VIC) towards the purchase price on top of the First Home Buyer's assistance scheme. NSW: https://www.revenue.nsw.gov.au/grants-sche/first-home-buyer VIC: https://www.sro.vic.gov.au/first-home-owner It's never too early to start the conversation, many of those who I talk to are 6-12 months away from buying, but it makes sense to get your ducks in a row and be prepared. Shoot me a DM or give me a call for a chat. Ben - 0447 109 757

17.01.2022 Guarantor Loans Why should first home owners be exploring guarantor loans? Guarantor loans can get you into the property market faster whilst saving you a significant amount in mortgage insurance. ... We find most parents are willing to help their children get into the market if there is an easy option to do so. Further protection is now in place for guarantors making the decision an easier one. Feel free to get in touch if you need any assistance. Ben - 0447 109 757

16.01.2022 When your borrowing power is tight, it is extremely important to place your loan with the correct lender. Every lender has different policies on how income, debts & living expenses are assessed. Sources of income and the way existing debts are treated can make a huge difference to your capacity to borrow. Therefore, putting your loan application in the wrong place could mean you don't have the borrowing capacity to achieve your goals. ... Finance brokers have all the up to date industry knowledge on lender's policies, appetite and relevant changes that may affect your circumstances We have 50 + lenders on panel to choose from, giving you added assurance Our services are free of charge so why do it yourself? For anyone who needs to know their borrowing power, please give me a bell. Phone - 0447 109 757 Email - [email protected]

16.01.2022 Financial self-care needs to play an even bigger role in our overall self-care plan. With careful planning, you can manage your financial stress and set up safeguards for emergencies, improving your overall health and wellbeing. Planning for the future and providing financial security for yourself and your family has never been more important. ... If you have the goal of investing or purchasing property, no matter how far away you think it might be, it's important to be in touch with your individual financial sitiuation. As always, reach out when you need to! Ben - 0447 109 757 Financial solutions as individual as you

15.01.2022 Happy Weekend Team! As a lot of you know (or might not know) I work as a Finance and Mortgage Broker @ Inovayt. At Inovayt we strive to empower people through assisting them with their large financial decisions. Some of our main services we can provide are as follows: - Purchasing a Home or Investment Property... - Construction or Development Finance - Refinancing existing debt (Home, Investment, Business, Commercial) - Commercial, Asset and Equipment Finance - Business Finance - Consumer Loans - Car Loans I've created this page as a forum to share with everyone all things Finance related. From Market Insights and changes in the Banking Sector, to Finance options available and any common misconceptions associated. This weeks topic: First Home Buyers! Any questions, please don't hesitate to get in touch! Ben - 0447 109 757 www.inovayt.com.au

13.01.2022 Happy Friday! For those of you in VIC, stay home, stay well and enjoy a relaxing weekend in. For those like minded New South Welsh Men/Women, get out and enjoy what the weekend has to offer! ... Signing off from a hectic week to recharge and be ready to go again Monday!

13.01.2022 Have you ever considered buying a premises for your business to operate from? There have been many significant changes to commercial lending requirements relating to deposit value, lending terms, interests rates and fees applicable. It might just be the perfect time for your business to undergo the expansion that was previously unachievable. ... [email protected] 0447 109 757

12.01.2022 Borrowing Capacity VS Deposit Level What’s holding you back? Borrowing capacity refers to the amount of money a Financial Institution will lend you, taking into account your expenses, financial commitments and income amongst other factors.... Deposit Level is the amount of money required to cover your initial cash investment, along with any associated costs of achieving your intended purchase. Combine the above and you have what is known as your "Purchasing Power". Financial Institutions and Banks have limits on the amount of money they will lend you based on a combination of the above. The asset/security backing the loan, your current individual circumstances, financial commitments and cash savings will all affect your Purchasing Power. Whether you are a First Home Buyer , looking to purchase your next Investment Property , or wanting to buy a Commercial premises for your business , the above factors apply. With recent changes to lenders assessment rate, have you had a re-checked where you are at financially? 0447 109 757 [email protected] https://www.inovayt.com.au/

12.01.2022 Are you looking to buy a property but don't have a large enough deposit? There might be a way of getting into that first home or upsizing to that next property sooner than you expect Guarantor lending is where a relative or family member can offer up additional property as security to which you can secure a portion of your new debt. ... Pros: Avoids paying lender mortgage insurance Some lenders are willing to lend 100% + costs toward the purchase property Purchase with a small deposit Quicker entry into the property market Available on investment property purchases Available to First Home Buyers and non-first home buyers Cons: Not everyone has access to family with additional security Some banks don't allow second mortgages on property Please get in touch if you'd like to know more. 0447 109 757 [email protected] www. inovayt.com.au

12.01.2022 Home Builder Alert The Federal Government has released details on their new "HomeBuilder" Grant. This will run from today 4/6/2020 until 31/12/2020.... Build/renovation must be > $150,000 Receive $25,000 from the federal government toward your renovation or new build There are income, timeframe and asset value restrictions so please get in touch if you wish to know your eligibility. https://treasury.gov.au/coronavirus/homebuilder Ben - 0447 109 757 [email protected]

12.01.2022 For those new to Inovayt, I look forward to working with you all soon Capabilities are as follows: - Owner Occupier & Investment Loan Finance ... - First Home Buyers - Refinancing existing debt - Development & Construction Finance - Commercial Property Finance - Medico Finance - Asset & Equipment Finance - Business & Working Capital Finance - Personal Lending & Consumer Car loans - 0447 109 757 - [email protected]

12.01.2022 Home Builder & Deposit Misconceptions How much deposit do you need to get into the property market? This is a question once again getting raised with the introduction of the $25,000 Government building grant. ... This grant can form part of your deposit however there are a number of factors you need to consider. Feel free to get in touch if you need any assistance. Ben - 0447 109 757

12.01.2022 First Home Buyer Alert As of the 1st of July, the Australian Government has issued another 10,000 First Home Loan Deposit Scheme (FHLDS) places. This is a perfect opportunity to stop renting and leverage into your First Home. Places under the scheme are still available but won't last forever!... Benefits of the scheme: Only 5% deposit + costs required No Lenders Mortgage Insurance (LMI) Available on purchase prices < $600,000 (VIC), < $700,000 (NSW) and $475,000 (QLD) Quicker entry into the property market Available to Aus Citizens Please get in touch to discuss your eligibility Ben 0447 109 757 [email protected]

12.01.2022 Should I increase my savings or pay out my debts? This is a common question that clients ask. This purely depends on your circumstances. Please see the examples below to see why: Example A. The client has low borrowing capacity due to having personal loans, credit cards and margin facilities but has a lot of savings. One way of increasing your borrowing capacity is to pay out and close debt facilities, therefore it makes sense to pay out debt in this example. ... Example B. The client has no issue with the borrowing capacity but has low savings. If you have the borrowing capacity, then it might be better to put more money towards your savings, meaning less mortgage insurance or reaching your minimum savings contribution quicker. Note: each lender calculates your borrowing capacity differently, meaning that bank A may only lend you $400k and bank B may lend you 500k. Dont hesitate to get in touch if you would like to see how much you could potentially borrow or how much you need to save for a deposit. Ben - 0447 109 757 [email protected] https://www.inovayt.com.au/

10.01.2022 First Home Buyers Quick Facts What is the difference between the Stamp Duty Exemptions & the First Home Buyers Grant? Stamp duty (NSW) is a tax charged by the state government to purchase an asset. In NSW, First Home Buyers do not pay the Stamp Duty for purchases under $650,000 (owner-occupier properties only). They will pay a concessional stamp duty rate for property purchases between $650,000 - $800,000.... Stamp duty (VIC) also applies to First Home Buyers with complete exemption for purchases under $600,000 (owner-occupier properties only). Concessional duty is paid for purchases between $600,000 - $750,000. The First Home Owners Grant (FHOG) in NSW is a one-off grant ($10,000) payable to First Home Owners who are building, buying Off-the-Plan, or it being the first time the house has been sold, and that the house has never been lived in. You will not receive the FHOG if you buy an established house that does not reach the above conditions. The First Home Owners Grant (FHOG) in VIC adheres to the same conditions as NSW. A $10,000 cash grant is received for First Home Buyers in Metro VIC and $20,000 for Regional VIC. Stamp Duty exemptions, concessions and cash grants are also applicable in all other states with some amended requirements Any questions, please get in touch! 0447 109 757 [email protected]

07.01.2022 Attention home owners Here is how you can pay off your home loan quicker and save money. How frequently should I be paying my mortgage repayments?... The frequency in which repayments are made to a home or investment loan, can have a significant impact on just how quickly the debt can be paid off. See below the difference between monthly, fortnightly and weekly repayments, based on a scenario of a $500,000 loan over a 30 year loan term, at an interest rate of 3%. Monthly: Repayment = $2,108.02 Total Interest over 30 years = $258,887 Interest Saved = $0 Time Saved = 0 Fortnightly: Repayment = $1,054.01 Total Interest over 30 years = $224,492 Interest Saved = $34,396 Time Saved = 3 years & 7 months Weekly: Repayment = $527.01 Total Interest over 30 years = $224,283 Interest Saved = $34,604 Time Saved = 3 years & 7 months Interest is calculated on a daily basis, which is why fortnightly and weekly repayments can save you a considerable amount of interest over the life of the loan. By having more frequent repayments, the interest is calculated over a shorter period, therefore meaning you are paying your principle debt down faster To find out more, feel free to give me a call - 0447 109 757

06.01.2022 Fun fact: Australians have paid down a total of $5.5bn in credit card debt since the start of COVID-19. In addition to this 20% reduction in debt, nearly half a million credit card accounts were closed over the four month period. This is due to people staying home with nothing to spend money on as well as pulling out super to reduce debt. ... The flow on effect here is increased savings which is another factor driving young people to get into the property market. www.inovayt.com.au Ben - 0418 665 845

06.01.2022 Escaping COVID-19 madness Ill be working remotely from Newcastle, NSW for a few weeks due to flight cancellation. If youre in Newcastle/The Hunter and would like to catch up, please get in touch. ... - 0447 109 757 - [email protected]

04.01.2022 The power of extra repayments Adding a small additional repayment can have a huge impact Benefits: You save on interest... Pay off your home loan sooner You can redraw* the money in case of an emergency Frees up equity for future investments or renovations The below is based on a loan of $500,000, interest rate of 3% & an additional repayment of $100 per week Minimum Weekly Repayments: $487 Increased Weekly Repayments: $587 Time saved: 7 years, 21 weeks Interest Saved: $69,890 For a couple that's $50 each per week. My recommendation is to set it up as a direct debit to come out as soon as you get paid. You can't spend money you don't have My aim is to not only help you get your loan approved, but to help you accelerate your debt reduction & in return create wealth. If you would like some further tips on how you can reduce your home loan, please get in touch. PM 0447 109 757 [email protected] *Redraw is not available on all loan types. https://www.inovayt.com.au/

01.01.2022 5% Genuine Savings? This refers to savings that prospective borrowers have saved themselves over time. This generally relates to those looking to purchase their first home or purchasing a home without the support of equity in another property When assessing a loan application, lenders will want to see that you have diligently saved money over time in order to evaluate whether you have the capacity to make your monthly repayments.... Every lender has its own definition and requirements for genuine savings, which will depend on the amount that you borrow, and some may not even require it at all. As a general rule, lenders will accept as genuine savings any funds that amount to 5% or more of the purchase price. These can be: Savings held or accumulated over at least three months Term deposits held for at least three months Shares or managed funds held for at least three months Cash gift held for at least three months Inheritance funds held for at least three months Contributions from the First Home Super Saver Scheme But what they generally cannot be is: Monetary gifts Inheritance Tax refund Bonuses from work Profit from the sale of an asset other than a property, such as a vehicle First Home Owners Grant Borrowed funds Short-term cash savings Reach out if you have any questions! 0447 109 757 https://www.inovayt.com.au