MB-logo
Book a Call

Best Mortgage Broker in Sydney

Secure your next home loan with a top Sydney mortgage broker. We’ll help you compare your options from 45+ lenders and get approved.

Contact a brokerhomeloan

What our mortgage brokers offer Sydney home buyers

At MortgageBroker, we offer a range of services for Sydney buyers. Whether you’re looking for the best interest rates or flexible loan terms, we are committed to helping you find the right mortgage.

While you could compare home loans on your own, our expertise ensures you don’t miss out on the best options. Beyond just finding a low interest rate, we consider your overall financial picture to secure a loan that fits your needs today and into the future.

We have access to over 45 lenders offering some of the best loan products currently available. Our deep knowledge of the Sydney property market and experience with a variety of borrower types means we can deliver not only a great rate but a well-suited loan package.

Sydney borrowers we can help

We specialise in helping first home buyers in Sydney through the entire loan process, simplifying the steps and presenting you with loan options that fit your budget and needs. You’ll get personalised support to ensure you get a mortgage that ticks all your boxes and helps you achieve your dream of owning a home.

We review your current home loan and financial situation to find better rates and terms that can potentially save you money. Whether you’re looking to refinance your home loan to a lower rate or to unlock equity for renovations, we’ll strive to find you a new mortgage with minimal switching fees.

Our brokers are experts in investment property loans and market trends which could impact Sydney-based property investors. This allows us to offer mortgage options that match your goals. We can help you optimise your portfolio by guiding you on the best loan structures for your needs – whether that’s principal and interest, interest-only, or choosing between variable, fixed or split rates.

You might be looking to downsize or upgrade in Sydney, and want to explore your options on how to go about buying your next property. We can help with bridging finance if you need funds to lock in your next home without selling your current one, or if you want to use existing equity as a deposit for a new property.

A Sydney mortgage broker can assist self-employed borrowers in tricky financial situations, such as if you can’t provide standard income documentation or if you’ve recently started a business. Our brokers work with lenders who understand these challenges and are open to other forms of documentation, like financial statements or tax returns, to assess your overall position.

We partner with lenders who are willing to consider your individual circumstances and offer personalised solutions, even if your credit history isn’t perfect. Since bad credit home loans often come with higher rates and fees compared to standard mortgages, you’ll want to make sure you’re getting the best deal available.

How to find the best mortgage broker in Sydney

There are many ways to find a good mortgage broker in Sydney. Here are a few essential factors to consider:

Read client reviews and testimonials

Check online reviews on Google and Rate My Agent to assess their reputation. For example, if a particular broker has dozens of 5-star Google reviews, it’s generally a sign that Sydneysiders are happy with their services.

Check their lender network

Look for a Sydney mortgage broker with a wide network of lenders. This ensures they can offer a variety of loan options and find the best rates and terms for you.

Verify their experience and credentials

Make sure the broker has experience and holds relevant qualifications. Experienced brokers are usually more effective at handling complex situations and understanding how lenders work, which can increase your chances of getting approved.

Assess their communication skills

Make discovery calls with several brokers in Sydney to see how well they communicate. Pick a broker who explains things clearly and details how they will support you throughout the process.

Some potential red flags about Sydney mortgage brokers might include:

  • Negative reviews and complaints Watch for brokers with consistently negative reviews or unresolved complaints. This could indicate poor service or a lack of reliability and professionalism.
  • Overly eager to get you on their books If a broker rushes you to sign on quickly without fully discussing your options or answering your questions, it might mean they’re more interested in closing a deal than in helping you find the best loan.
  • Guarantees your loan will be approved Be cautious of brokers who promise “loan approval guaranteed” before assessing your financial situation. They should first perform a “fact find” or “credit needs analysis” to understand your borrowing power. Even with this assessment, approval isn't certain until the lender reviews your application and the property.
  • Poor communication skills First impressions matter, so if a broker is hard to reach after your first meeting, it could suggest potential issues. Clear communication and transparency are crucial throughout the home-buying process.
mortgageArrow

Remember that some of the top mortgage brokers in Sydney might work as sole operators or in small teams. They handle multiple clients and must manage their time effectively, so it’s reasonable for them to set clear and realistic timelines from the start.

What’s the process for using a Sydney mortgage broker?

Here’s a general overview of how using a mortgage broker in Sydney works:

1

First meeting

Schedule an initial consultation with the mortgage broker, either online, over the phone or in person. During this meeting, discuss your financial situation and goals, including details about your income, living expenses, assets, liabilities, and specific loan features you want.

2

Preliminary assessment

Your broker will examine your financial details and determine your borrowing capacity. They’ll request documents such as your last two payslips, up to six months of bank statements, and tax returns to gain a full understanding of your financial situation.

3

Pick a loan product

After evaluating your financial situation, your broker will provide you with three to five loan options tailored to your needs. They will clearly outline the interest rates, fees, and terms for each choice to help you make an informed decision.

4

Submit your loan application

After you choose a loan, your broker will assist with your application process. They handle gathering and submitting all required documents to the lender for you.

5

Your broker will keep tabs on progress

Your broker will be in touch with the lender to monitor your application’s progress, resolve any issues, and keep you updated. Meanwhile, the lender will arrange for a property valuation.

6

Review the loan offer

Once your loan is approved, the lender provides a formal loan offer. Your broker will review the offer with you to ensure that all terms meet your expectations.

7

Prepare for settlement

The broker collaborates with the lender, your solicitor or conveyancer, and other key parties to get everything ready for settlement. This involves finalising all paperwork and ensuring that the loan funds are set for transfer.

8

Settlement

On settlement day, the loan funds are released, and the property transaction is complete. The broker makes sure everything is in place and that the process proceeds without a hitch.

9

Post-settlement check-in

After settlement, your broker will check in to confirm that the loan is working as planned and that you’re happy with the process. They’re also available to help with any issues or questions that may come up.

mortgageArrow

Hot tip: Be open about your financial situation with your mortgage broker, including details like HECS debt, BNPL accounts, personal loans, credit cards, and any past defaults. Full disclosure allows your broker to accurately assess your financial position, find the best loan options, and avoid any surprises, giving you a better chance of approval.

Sydney home loan insights 2024

One of the benefits of working with a broker is their deep understanding of the Sydney property market. They can offer property reports packed with data and insights into which suburbs are thriving and which ones are lagging. Here’s a snapshot of the home loan market in Sydney:

  • Average home loan in NSW: $780,028
  • Average interest rate: 6.28% p.a. (owner occupier)
  • Median property value in Sydney: $1,180,463 (all dwellings)
  • Median house value in Sydney: $1,471,892
  • Median unit value in Sydney: $859,050
  • Median house deposit in Sydney: $158,000
  • Average time to save for a house deposit in Sydney: 6 years, 8 months

Sydney property insights 2024

Based on recent CoreLogic data, the median house value in Sydney is $1,471,892, while the median unit value is $859,050. To bypass paying lender’s mortgage insurance (LMI) for these prices, you’ll generally need a 20% deposit: $294,378 for a house and $171,810 for a unit. As of July 2024, the average time to sell a property in Sydney is 34 days, up from 29 days in July of the previous year.

Top 10 performing suburbs in Sydney

Suburb Median valueAnnual change (Aug 23 - Aug 24)
  1. Canterbury

$1,232,191

13.3%

  1. Fairfield

$1,108,877

12.6%

  1. Mount Druitt

$861,110

11.1%

  1. Campbelltown

$904,913

10.7%

  1. Merrylands - Guildford

$1,150,215

9.9%

  1. Bankstown

$1,323,210

9.4%

  1. Liverpool

$1,042,822

9.1%

  1. Blacktown

$1,039,851

8.3%

  1. Hurstville

$1,338,487

8.2%

  1. Eastern Suburbs - South

$1,605,096

8.2%

These are the top 10 Sydney suburbs with the highest 12-month value growth on all dwellings (houses and units), according to the latest data from CoreLogic. Information accurate as of September 2024.

Sydney’s best suburbs for families in 2024

Here are 10 of the most family-friendly suburbs in Sydney, as rated by lifestyle brand Sitchu, along with the median house prices for each area from realestate.com.au.

  • Lane Cove: $3,000,000
  • Glebe: $2,798,500
  • Maroubra: $3,045,000
  • Frenchs Forest: $2,325,000
  • Rozelle: $2,222,500
  • Curl Curl: $5,400,000
  • Dulwich Hill: $2,300,000
  • Kareela: $1,645,000
  • Oatley: $2,430,000
  • Baulkham Hills: $1,890,000

Investing in property in Sydney

For Sydney property investors, here are some key takeaways from CoreLogic’s most recent data:

Median weekly rent for all dwellings

$770

Annual change in rents (April 23 - April 24)

9.0%

Current rental yield

3.1%

Rental growth (July 23 - July 24)

7.4%

What sets us apart from other mortgage brokers in Sydney?

We provide a wide range of options by partnering with over 45 lenders, giving you more choices than many other brokers in Sydney. This allows us to find the best rates and loan terms tailored to your needs, whether you’re buying your first home or expanding your investment portfolio.

Additionally, we can help if you're buying in other parts of Sydney and NSW. Whether you're looking at property and need a mortgage broker in Parramatta, North Sydney, Wollongong or Newcastle, we can help.

We'll take the time to understand your financial situation and goals, and then use that information to match you with the right lender. At MortgageBroker, you’re getting more than a home loan; you’re getting a personalised service designed to save you money and time.

FAQs about Sydney mortgage brokers

Using a mortgage broker in Sydney will usually come at no cost to you. That’s because brokers are typically paid in commissions from lenders for securing new clients, so borrowers don’t have to cover any fees themselves.

At MortgageBroker, our service is entirely free of charge. We may earn a commission from the lender once your loan is finalised. Keep in mind our recommendations are always centred around your best interests, and we are committed to full transparency regarding our compensation if you decide to proceed with a loan through us.

Working with a Sydney home loan broker can be a smart way to save money in various ways. Brokers have access to competitive interest rates and loan terms that may not be readily available to those searching on their own. By reviewing your options with a broker, you can potentially get a home loan with lower rates and fewer fees, saving you thousands of dollars in interest over time.

Our brokers can also help you avoid costly mistakes during the loan application process. They can assist in steering you away from loans with hidden fees or terms that don’t align with your financial goals, such as ongoing fees for features you might not use or need.

With the help of a mortgage broker, you can typically secure a home loan in Sydney within a few weeks, but this will depend on your financial situation and lender processing times. Brokers can expedite the process by leveraging their expertise and lender relationships, which might lead to faster approvals.

Given that around 70% of Australians use mortgage brokers, their widespread adoption highlights their efficiency in helping borrowers navigate and streamline the loan process.

You’ll generally need to provide two of your most recent payslips, up to six months of bank statements, your tax certificate, and any additional documents requested by the lender. Your mortgage broker will also perform a credit needs analysis where they’ll ask about your income, expenses and other financial details.

Yes, your mortgage broker can give you an estimate of your borrowing capacity after they have carried out a comprehensive credit needs analysis. This process involves gathering detailed information about your financial situation, including your income, expenses, debts, and assets.

Once this analysis is complete, the broker can assess your financial profile and provide an estimate of how much you can borrow based on current lending criteria and available loan products.

To ensure your Sydney home loan broker is the right fit for you, consider asking several key questions. Ask about the number of lenders they work with, their level of experience, how they will keep you updated throughout the process, and their professional credentials. Furthermore, you could ask them about ways to pay off your home loan sooner using features like offset accounts or redraw facilities.

Yes, Sydney investors can definitely use mortgage brokers to secure an investment property loan. At MortgageBroker, we collaborate closely with investors to understand their specific needs and property goals. Whether it’s optimising loan structures, like opting for interest-only repayments to enhance cash flow, or choosing a split loan to manage interest rate risks, we tailor our services to support your investment strategy.

Working with a mortgage broker can really simplify getting approved for a home loan. If your financial situation is complicated — like if you have poor credit or are self-employed — a mortgage broker can be a huge help. They know all kinds of lenders, including those who are open to working with people in unique or challenging situations.

Plus, mortgage brokers talk to banks and lenders every day, so they’re always up-to-date on what’s needed to get your loan approved. When it’s time to apply, they’ll know exactly what to do to give you the best shot at getting that loan.

Absolutely, you can refinance with a Sydney mortgage broker even if you didn’t use one for your current loan. Our brokers are here to help you check out new loan options, compare rates, and negotiate terms, no matter who arranged your original loan.

Whether you’re looking to lower your interest rate, cut down on monthly payments, or tap into your property’s equity, our brokers can make the process easier and work to get you a great deal.

If your loan application is denied, a Sydney mortgage broker plays a crucial role in helping you understand why the application was unsuccessful and exploring alternative solutions. They will review the reasons for the denial, such as issues with credit history, insufficient income, or incorrect documentation.

Based on this analysis, the broker can provide advice on how to address these issues, whether that means improving your credit score, adjusting your financial documentation, or resolving any discrepancies.

Additionally, a mortgage broker can assist in finding alternative lenders or loan products that may be more accommodating to your situation. They have access to a wide network of lenders and can help you identify options that might better suit your needs.

Yes, in New South Wales, eligible first home buyers can benefit from the First Home Owner Grant, which currently offers up to $10,000 to help with the purchase of a new home. To qualify, the property must be valued under $750,000, and you must live in it for at least 12 months from the date of settlement. Additionally, you must not have received a first home owner grant in any other state or territory in Australia.

There’s also the First Home Guarantee (FHBG), a federal initiative that allows you to purchase a home with just a 5% deposit without needing to pay lender’s mortgage insurance (LMI). For the 2024-25 financial year, there are 35,000 FHBG places available, with a portion reserved for first home buyers in regional areas. Our Sydney mortgage brokers can help you navigate these grants and schemes to see which ones apply to your situation and maximise your benefits.

footermblogo

© Copyright 2024 Mortgage Broker Pty Ltd

Our Promise

Money Pty Ltd (trading as Money) (ABN 42 626 094 773) Australian Credit Licence 528698 provides information about credit products. Money does not compare all products or issuers available in Australia. We are not a broker or credit provider and when we provide information via this website, we are not providing you with a recommendation or suggestion about a particular credit product. We may receive a commission when you apply for a home loan as a result of outbound links on this website. This material has been prepared by Money Pty Limited (ABN 40 664 954 536) (Money, ‘us’ or ‘we’). Money is a corporate authorised representative (CAR 001307399) of 62 Consulting Pty Limited (ABN 88 664 809 303) (AFSL 548573) (62C). The material is for general information only and is not an offer for the purchase or sale of any financial product or service. The material is not intended to provide you with financial or tax advice and does not take into account your objectives, financial situation or needs. Although we believe that the material is correct, no warranty of accuracy, reliability or completeness is given, except for liability under statute which cannot be excluded. Please note that past performance may not be indicative of future performance and that no guarantee of performance, the return of capital or a particular rate of return is given by 62C, Money, any of their related body corporates or any other person. To the maximum extent possible, 62C, Money, their related body corporates or any other person do not accept any liability for any statement in this material. The information on this website is intended to be general in nature and has been prepared without considering your objectives, financial situation or needs. You should read the relevant disclosure statements or other offer documents prior to making a decision about a credit product and seek independent financial advice. Whilst Money.com.au endeavours to ensure the accuracy of the information provided on this website, no responsibility is accepted by us for any errors, omissions or any inaccurate information on this website. Interest rates, fees and charges are subject to change without notice. Before acting on any information, you should confirm the interest rates, fees, charges and product information with the provider. For clarity, where we have used the terms “lowest” or “best” these relate solely to the rates of interest offered by the provider and not on any other factor. The application of these terms to a particular product is subject to change without notice if the provider changes their rates.

The calculator provided on money.com.au is intended for informational and illustrative purposes only. The results generated by this calculator are based on the inputs you provide and the assumptions set by us. These results should not be considered as financial advice or a recommendation to buy or sell any financial product. By using this calculator, you acknowledge and agree to the terms set out in this disclaimer. For more detailed information, please review our full terms and conditions on the website. Assumptions: - The calculations do not account for changes in interest rates or other market conditions that may occur. - Results are approximations and may differ from actual payment schedules or amounts. - The calculator does not include all fees and charges that you may incur in relation to a financial product. Limitation - This calculator does not guarantee the availability of any financial product or the accuracy of the calculations. Please consult a financial advisor or the relevant product provider to obtain specific advice tailored to your circumstances. - money.com.au does not accept any liability for errors or omissions, or for any loss you may suffer as a result of relying on these calculations.

Money Pty Ltd trading as Money

ABN: 42 626 094 773 / ACL: 528698 / AFCA: 83955
Money is a corporate authorised representative (CAR 001307399) of 62 Consulting Pty Limited (ABN 88 664 809 303) (AFSL 548573) (62C)
aboriginal-and-torres-strait

Mortgage Broker acknowledges Aboriginal and Torres Strait Islanders as the traditional custodians of country throughout Australia and their continuing connection to land, waters and community.

© Copyright 2024 Mortgage Broker Pty Ltd