Nick Russell Loan Market

07/12/2022

Wanting to revamp your home interior ? Get inspired by these earthy tones, portraying a connection to nature 🍃🍁🏡

06/12/2022

There are Many things that lenders look for when going through your bank statements 🏦

This is a mini series, covering off 5 things to try and minimize, or avoid, when thinking about applying for a homeloan in the next 3-6 months!

Day 1 - Regular gambling payments or debits 🎰

First and foremost lenders look for people that are sensible with their money, gambling, while it may be fun, can be viewed negatively from a lenders point of view

This is because it is viewed as reckless way to use money, creating excessive debt and can lead to gambling addiction.

If you are a regular gambler and thinking about buying a home, it would be in your best interest to reduce the amount of money you put down and reduce the frequency in which you gamble.

That being said, the occasional bet on your favourite football team isn't going to stop you getting a loan, this is more directed to the avid daily punter or regular casino visitor ! 😉

01/12/2022

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𝐎𝐔𝐑 𝐅𝐔𝐍 𝐅𝐀𝐂𝐓 𝐅𝐎𝐑 𝐓𝐇𝐄 𝐃𝐀𝐘 💥

For the first time in recorded history, Mortgage brokers have facilitated in over 70% of all settled loans Australia wide! With the exact figure being 71.7%!

This means that 3 out of 5 people refinancing or buying their next home have used a Mortgage Broker to help make that happen.

There are many reasons to speak to a Broker, if you would like to know more about our services please feel free to reach out 😃

29/11/2022

Everything slows down for the holiday break, but this doesn't mean you have to.
Now is the perfect time to organize your pre-approval, ready to go for the new year🎉

Statistically, there are less properties that come to market in December and we don't start to see them again until mid January.

If you don't want to miss out on the January BOOM💥 , now is the best time to organise your pre-approval!!

28/11/2022

𝐃𝐨 𝐲𝐨𝐮 𝐫𝐞𝐚𝐥𝐥𝐲 𝐭𝐡𝐢𝐧𝐤 𝐲𝐨𝐮𝐫 𝐩𝐫𝐨𝐩𝐞𝐫𝐭𝐢𝐞𝐬 𝐯𝐚𝐥𝐮𝐞 𝐰𝐢𝐥𝐥 𝐢𝐧𝐜𝐫𝐞𝐚𝐬𝐞 𝐧𝐞𝐱𝐭 𝐲𝐞𝐚𝐫 ? 🤔
 
Inclusive of the early 80’s recession, there has been 5 dramatic property value decreases.
 
After analysing the data from these previous market drops, we can fairly confidently predict that we won’t actually start seeing our property value increase until the next interest rate cut. This means that even once the rates have stopped increasing and we experience a plateau, property values will likely not increase.  
 
Sourced from: Westpac Senior Economist, Matthew Hassan.
 
🏡 Property address: 8 Shawshank Avenue, Clyde.

17/03/2021

Do you want to buy a property before you get priced out of the market?
Are you considering purchasing a property at auction?
If so, it’s important to get your loan pre-approved ahead of time, so you can bid with confidence at auction.

This is where I come in, let me organize your pre-approval.

So what is pre-approval?

Pre-approval is when a lender has looked at your finances and is satisfied you could pay off the type of loan you applied for.
It means you:
- Know what you can spend
- Can bid at auction
- Get an idea of what your loan repayments might be

If you want to get pre-approved let me know.

19/01/2021

A quick read to help explain how the banks determine their rates, what a comparison rate is, the difference between fixed and variable rates, and what principle and interest or interest only rates.

If you would like to know more about something you read please feel free to ask :)

Wondering what's the difference between the cash rate and the comparison rate? Curious about fixed, variable and split loans? We've got your questions answered.

07/12/2020

Just a quick little article with some helpful tips on how to pay down your mortgage quicker than the full 30 years.

*Nudge* *nudge* Number 3 is a really good one ;)

Most mortgages nowadays last for 30 years, but how good would it feel to pay it off sooner? Three finance experts share their tips for halving the length of a mortgage.

06/10/2020

For those who are curious, this is a good article by Macquaire Bank summarising the new Budget announced yesterday and how it affects you directly.

The Federal Treasurer, the Hon. Josh Frydenberg MP, delivered the 2020 Federal Budget on 6 October 2020.

27/09/2020

As of tomorrow, one-on-one residential inspections will be allowed for buyers and renters, which will be a massive relief to many! Spring selling season has officially begun. If you, or anyone you know, is looking to buy soon, now is the time to get pre approved!

26/08/2020

As you can see there are quite a few differences between the two options.
Depending on your goals one may be a better option than the other.

If you have further questions about the two or would like to discuss which would benefit you better. Please feel free to reach out.

12/08/2020

Are you looking to purchase a property when lockdown ends? 🏡

Let’s be honest, as soon as restrictions are lifted every buyer and their dog will be out house hunting. If you don’t want to miss out, NOW is the time to start the pre approval process!

Banks are taking longer than ever to process applications, so let me get you pre approved and ready to go while you sit at home and watch Netflix and chill 😉