Nick Ball in Newcastle, New South Wales | Mortgage brokers

Nick Ball

Locality: Newcastle, New South Wales

Phone: +61 407 544 649

Address: 88 Elder Street 2299 Newcastle, NSW, Australia

Website: http://www.inovayt.com.au

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23.01.2022 When does the finance journey start Many people wait until they think they are ready to start discussions around obtaining a homeloan. However at Inovayt we recommend getting in touch with a finance professional earlier in the piece to make sure you are as "finance ready" as possible to make the process as smooth as possible for you.... We've recently written a blog on the finance journey, take a look and reach out if you have any questions. 0407 544 649 https://www.inovayt.com.au/the-finance-journey/

22.01.2022 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 lenders 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. 0407 544 649 [email protected] www. inovayt.com.au

21.01.2022 This week I caught up with Lindy From ONE Agency Lindy Harris to discuss why it's important to be prepared in a housing market with so much competition! It's no secret that those who are prepared and have their finances in order stand much more of a chance to secure the property they want If you want to get "finance ready" reach out today.... 0407 544 649

20.01.2022 Comprehensive credit reporting means that more lenders are obligated to share information with credit reporting agencies. This means more banks can see your credit repayment history without having to see your statements. What can you see on your credit report? You can see your repayment history for the last 2 years for all open & closed credit facilities from licensed Australian credit providers. ... How do you read a credit report? The number on your repayment history represents if it is paid on time or how late the repayment is. Please see the Codes below: 0. Not overdue. 1. Up to 29 days overdue (a grace period of 15 days). 2. 30 - 59 days overdue. 3. 60 - 89 days overdue. 4. 90 - 119 days overdue. 5. 120 - 149 days overdue. 6. 150 - 179 days overdue. X. 180 + days overdue. C. Closed account. A. Not associated. The account is open but the subject of the report is not associated to the account. R. Not reported. P. Pending. T. Transferred to another credit provider. Please note that missed repayments could mean you have to go to a third tier lender, this means a bigger deposit and higher rates. You could avoid this by setting up direct debits. For anyone who has a credit report question or issue, please reach out. Nick - 0407 544 649 https://www.inovayt.com.au/team/nick-ball/

18.01.2022 Buy now or keep saving Does getting in the market sooner with less deposit make more sense than waiting and saving... Dwelling values have increased by 3.5% and 3.6% for Melbourne and Sydney respectively in the last quarter. Westpac Bank is predicting an 18% increase in the next two years for dwelling prices in some major cities. ... What does this mean for you in dollar terms? Assuming you were looking at purchasing a property for $600,000 but you were holding off because you didn't have a large enough deposit. The below is an example only of increasing property prices, it in on the basis that you are a first home buyer so that stamp duty concession applies. This also assumes you are buying a property in NSW. Price(2021) = $600,000 20% deposit + government cost = $120,613.00 Price(2022) = $654,000 (assuming 9% increase) 20% deposit + government cost = $131,928.40 Price(2023) = $712,860 (assuming 9% increase) 20% deposit + government cost = $155,996.25 The numbers above show that if the property prices do increase as per Westpac's forecast then by waiting you will have to save up an additional $35,383.25 for a 20% deposit. If you bought in 2021 and the property prices increase by 18% in 2 years then you will have potentially gained $112,860 in equity. This is something to consider if you are sitting on the sidelines. But what other options do I have: If you don't have a 20% deposit, you can still purchase with assistance of lenders mortgage insurance which can be added to your loan. Although this can incur a significant expense (circa $10-$20k estimated), it will get you into the market earlier. Or you may be able to use a family guarantor! Want to have a chat about your plans? Please reach out below. 0407 544 649 [email protected]

17.01.2022 The property market is hot As a buyer it's more competitive, and agents have offers left right & centre, so what can you do to better ensure you secure the property you want. Nick Stewart - Century 21 Newcastle and I sat down to run through few key points recently regarding being prepared prior to making offers.... If you have any questions or would like to understand your borrowing capacity please reach out directly: 0407 544 649 [email protected]

16.01.2022 What deposit do I need to be able to purchase a property ? If you’re purchasing a property to live in, as a rule of thumb, you will need a minimum 5% deposit plus costs. If you’re purchasing an investment property, as a rule of thumb, you will need a minimum 10% deposit plus costs. ... Costs include: Stamp Duty (being the main cost) Transfer Fees Registration Fees Conveyancing/Solicitor Fees Bank Fees Lenders Mortgage Insurance First home buyers please note that there are stamp duty exemptions and concessions available, so the deposit required may not be as much as you think ! If you wish to understand exactly how much you need to achieve that next purchase, please get in touch. 0407 544 649 [email protected]

15.01.2022 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 Nick - 0407 544 649

15.01.2022 Most of us insure our homes & our cars but do we insure what pays our bills & commitments? Our income? It could be something you are interested in considering, especially if you are looking at getting a home loan. If an accident or tragedy happens, there is always the question on how would you maintain your repayments... Next week I am sitting down with one of Inovayt's Financial Planner's Luke Saltmarsh so we can better understand financial planning and the options a...vailable to protect ourselves. If you have any finance needs feel free to reach out. 0407 544 649 Luke's profile below for reference: https://www.inovayt.com.au/team/luke-saltmarsh/

10.01.2022 FHLDS Update 10,000 extra places for the First Home Loan Deposit Scheme (FHLDS) have been issued for First Home Buyers looking to purchase new homes, recently built homes or in Off-the-plan developments. Price caps on the scheme have also increased for every state. ... Please get in contact to find out more and express your interest. . [email protected] 0407 544 649 See more

08.01.2022 With the market heating up week on week the question between house vs. unit is as hot a topic as ever. Whilst everyone's circumstance is different, Casey Healey & I discuss some key differences between the two asset types in terms of holding expenses , loan options and other important factors. If you have any questions reach out on the below: 0407 544 649 [email protected]

06.01.2022 Last week I caught up with Luke Saltmarsh from Inovayt Wealth to discuss how first home buyers & young people can better protect themselves when taking on their first large debt. Please feel free to reach out to myself or Luke if you have any questions.

04.01.2022 First Home Buyer Questions Feel free to join a group set up by Hai Nguyen - Mortgage Broker - Inovayt Finance. We are both actively managing the group & welcome all questions from first home buyers wherever they are in their journey of entering the market. Get involved....

04.01.2022 A big warm welcome to 2021 One of the most common questions I am asked is "How much can I borrow" or "How much should I borrow" With interest rates at record lows it is the case for many that their borrowing capacity is much higher than it may have been in the past. But just because a calculator says one thing does not mean it is necessarily the right decision for you personally..... Check out this article we've put together that runs through a few of the key factors: https://www.inovayt.com.au/how-much-should-i-borrow/

03.01.2022 Investor Update I recently sat down with Casey Healey from Century 21 Novocastrian Newcastle - Property Management to discuss the current lending environment for investors and the key changes/ challenges. It has never been more important to have a trusted advisor in your corner when it comes to finance, someone that is across the ever changing conditions and moving goalposts!... Reach out if you would like to discuss investment lending. 0407 544 649 [email protected]

03.01.2022 Financial terms can be daunting so we've put together a glossary unpacking confusing jargon and lingo on our brand new website. If there's a term you think we should include, please let us know! [email protected]... 0407 544 649 https://www.inovayt.com.au/glossary/

02.01.2022 The numbers don't lie. If you're hearing about great interest rates in the current market, and yours isn't anywhere near them now is the time to review! These numbers below are based on a loan of $500,000 over 30 years principal & interest:... 3.5%: Ongoing repayments $2,245.22 PM 3.0%: Ongoing repayments: $2,108.02 PM 2.5%: Ongoing repayments: $1,975.60 PM Based on the numbers above going on that the yearly savings @ 3.5% - 3.0% = $1,646 PY @ 3.5% - 2.5% = $3,235 PY There are many out there with cashback offers and with rates as low as 1.89%. Now is a great time to refinance, if you're considering doing it! For more information on saving money on your mortgage, please give me a ring on 0407 544 649.

02.01.2022 What about your next step... We post a lot about first home buyers & purchaser's. But what about the strategy & thought process when looking to sell and upgrade. It's always good to have a plan as to how achieve those big rock goals.... This week I discuss a few different options with Bonny from ONE Agency Lindy Harris Reach out if you have any questions. 0407 544 649