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What our mortgage brokers offer North Sydney home buyers
Whether you’re buying or refinancing in North Sydney, our mortgage brokers have access to some of the best rates from over 45 lenders. We can help prepare your application and manage the entire process from start to finish.
There’s no pressure to commit. Start with a friendly chat, and we’ll get to know your financial situation and goals. Here’s how we can assist different types of borrowers in North Sydney:
- First home buyers: While North Sydney may not be the most suitable location for first-time buyers seeking houses, it’s an excellent option for those interested in units. We can help you figure out how much you can borrow, compare home loans, and get pre-approved, so you know exactly where you stand. With pre-approval in hand, you’ll be ready to make an offer with confidence.
- Refinancers: Already own a property in North Sydney? It might be time to consider refinancing. Don’t stress — we’ll compare refinance rates and take care of the paperwork for you. If you’re interested in tapping into rising property values, we can explore your options together.
- Investors: Whether you already own or are looking to buy an investment property in the Lower North Shore, we can help you secure the best financing deals. Our team will suggest investment loan options that align with your strategy, enhancing your cash flow and tax benefits.
- Upsizers and downsizers: Moving can be stressful, but we can help streamline the financial side of buying and selling. While we can’t help with packing, we can assist with exploring bridging loans if you need to purchase before selling.
- Complex applications: If your situation is a bit more complex — like being self-employed or needing SMSF finance — we can connect you with specialist lenders who offer tailored solutions. We also have options for borrowers with bad credit.
How to find the best mortgage broker in North Sydney
North Sydney and the Lower North Shore are fantastic places to find experienced and reputable brokers. From large national firms to sole operators, here are some key factors to keep in mind before making your decision:
1
Are they properly licenced?
Make sure the broker is licensed by ASIC (Australian Securities and Investments Commission) and is a member of professional organisations like the MFAA or FBAA. This ensures they adhere to industry standards and provides an extra layer of protection for you.
2
How experienced are they?
Consider how long they’ve been in the business and their areas of specialisation. A North Sydney broker with years of experience helping clients like you — whether you’re buying your first home or looking to invest — will likely offer more tailored advice.
3
What do their reviews say?
Do some online research to see what others have to say about them. Positive reviews highlighting good communication, responsiveness, and successful outcomes are usually a good sign that the broker knows their stuff.
4
How many lenders do they work with?
Find out how many lenders they partner with. The more options, the better your chances of securing a competitive rate. Also, ensure they work with lenders that cater to your specific needs — like low-doc or alt-doc loans for business owners.
5
Schedule a chat
Book an initial meeting to assess their communication style and understanding of your needs. A good North Sydney broker should explain things clearly and make you feel comfortable. Be cautious of anyone who pressures you into making quick decisions.
6
Keep your options open
Don’t limit yourself to just local brokers. Many excellent mortgage brokers from Sydney and national firms also serve North Sydney. While local knowledge is beneficial, the most important factor is finding a broker who can secure the best deal and effectively meet your financial needs.
How does using a North Sydney mortgage broker work?
Here’s a quick overview of how using a mortgage broker in North Sydney works:
- Initial meeting: Schedule a consultation with your broker — this can be online, over the phone, or in person. During this meeting, discuss your financial situation and goals, including income, living expenses, assets, liabilities, and any specific loan features you’re interested in.
- Preliminary assessment: Your broker will review your financial details to determine your borrowing capacity. They’ll ask for documents like your last two payslips, up to six months of bank statements, and tax returns to get a complete picture of your finances.
- Choose a loan product: After assessing your situation, your broker will present three to five tailored loan options. They’ll clearly outline interest rates, fees, and terms for each option to help you make an informed choice.
- Submit your application: Once you’ve chosen a loan, your broker will assist you with the application process, handling the collection and submission of all necessary documents to the lender.
- Monitor progress: Your broker will keep in touch with the lender to track the progress of your application, address any issues, and provide updates. Meanwhile, the lender will arrange for a property valuation.
- Review the loan offer: Once your loan is approved, the lender will issue a formal loan offer. Your broker will go over the offer with you to ensure it aligns with your expectations.
- Prepare for settlement: The broker will coordinate with the lender, your solicitor or conveyancer, and other key parties to prepare for settlement. This includes finalising paperwork and ensuring the loan funds are ready for transfer.
- Settlement: On settlement day, the loan funds are released, completing the property transaction. Your broker will ensure everything is in place for a smooth process.
- Post-settlement check-in: After settlement, your broker will follow up to confirm the loan is working as intended and that you’re satisfied with the experience. They’ll also be available for any questions or issues that may arise.
- Loan review: About a year after settlement, your broker will check in to review your loan. If interest rates have changed or your financial situation has evolved, they can help you explore new options or make necessary adjustments.
North Sydney home loan insights 2024
North Sydney is a major business hub in Sydney, home to numerous company headquarters and breathtaking views that compete with the world’s best. This vibrant area, along with its surroundings, is a popular choice for homebuyers who want to stay close to the city, all while enjoying the charm of an inner-city suburb filled with gourmet eateries and local attractions.
Here are some key highlights of the North Sydney mortgage market:
- Average home loan in NSW: $782,916
- Average interest rate: 6.28% p.a. (owner occupier)
- Median house value in North Sydney: $2,975,000
- Median unit value in North Sydney: $980,000
- Deposit required in North Sydney: $148,750 - $595,000 for a house and $49,000 - $196,000 for a unit (5% - 20% of the median property values)
- Average home loan repayment for a North Sydney property: $14,701 per month for a house and $4,843 per month for a unit (based on median values, 20% deposit paid and average interest rate over a 30-year loan term)
North Sydney property insights 2024
In the past year, house prices in North Sydney have risen by 4.4%, reaching a median of $2,975,000, according to realestate.com.au. While unit sales haven’t increased year-on-year, the median price for units now sits at $980,000. Given its desirable location, North Sydney is a premium suburb for living and buying.
The same holds true for surrounding areas on the Lower North Shore, though some neighbourhoods are outperforming others. If you’re looking to buy in North Sydney, it’s important to do your research. A broker can assist by providing detailed property reports and insights from previous clients who’ve bought in the area.
Some of the top-performing suburbs in North Sydney and surrounding areas
| Suburb | Median price | Annual price growth |
|---|---|---|
Riverview | $4,325,000 | 27.2% |
Crows Nest | $2,760,000 | 23.8% |
Chatswood | $3,440,000 | 16.3% |
Neutral Bay | $3,225,000 | 11.2% |
Mosman | $5,734,500 | 10.3% |
Lane Cove North | $2,652,500 | 9.4% |
Gladesville | $2,745,000 | 7.9% |
Northbridge | $4,900,000 | 6.5% |
North Sydney | $2,975,000 | 4.4% |
Willoughby | $3,302,500 | 1.0% |
Investing in North Sydney property
For property investors in North Sydney, here are some key insights from realestate.com.au:
Median weekly rent for houses
$1,300
Median weekly rent for units
$750
Current gross rental yield
2.3% for houses and 4.1% for units
Rental growth (Sep 23 - Aug 24)
-1.9% for houses and 11.9% for units
Average days on market for property sales
91 for houses and 52 for units
Why should I choose you over other North Sydney mortgage brokers?
North Sydney has long been a hotspot for buyers and investors alike. With stunning views, an array of charming cafes, and a vibrant business district, it’s easy to see why North Sydney captivates a range of borrower types.
However, competition for the best homes can be intense, so giving yourself an edge is crucial. One effective way to do this is by working with a local mortgage broker. We’ll help you determine your borrowing power, find the right loan, and guide you through the entire application process from start to finish.
If you’re in North Sydney and looking to refinance, we have extensive experience negotiating with lenders. Whether you’re upsizing, downsizing, accessing equity, consolidating debt, or simply trying to secure a better rate, we’re here to help you find the best deal. Reach out to us today to discover how we can assist you.