Alexandria mortgage broker
Alexandria mortgage broker
A mortgage broker
who knows Alexandria.
Terraces, new apartments and converted warehouses sitting alongside working industrial buildings, which is a mix lenders read very differently. We compare 35+ lenders and it costs you nothing.
35+
Lenders
10+
Years experience
1,000+
Clients helped
$0
Cost to you
About Alexandria
What the 2015 market actually looks like
History of Alexandria
Named after Queen Victoria mother, this was the industrial engine of inner Sydney for a century, making bricks, textiles, soap and much else besides. The factories began giving way from the 1980s and the character of the place changed with them, though a good deal of working industry remains alongside the cafes and offices.
Alexandria property market
Three kinds of housing in the same streets. Victorian and Federation terraces through the older pockets, new apartment developments built on former industrial sites, and warehouse conversions ranging from single loft homes to small residential buildings. Around four in ten residents rent, the predominant age group is in their thirties, and Sydney Park sits on the southern edge.
Alexandria property prices
Houses and apartments sit a long way apart here, with terraces well into the millions and apartments a fraction of that. Apartments also return considerably more rent relative to their price than the terraces do. Because the housing types are so varied, a suburb median blends three different markets and describes none of them accurately.
Borrowing in Alexandria
The property type matters more than in most suburbs. A converted warehouse, an apartment in a mixed use building above commercial space, and a standard terrace are three quite different propositions to a lender, and the zoning on a former industrial site can raise questions of its own. The address is worth checking before you commit.
Alexandria is one of the suburbs we cover across Sydney, and the one where the industrial past still shapes what gets sold.
Looking at a
warehouse conversion?
Lenders take very different views of converted and mixed use buildings. Send us the address before you offer.
Your broker
Meet Ali Hasani
Ali Hasani is the founder of Buyvest. He has worked in home loans for more than ten years, a lot of it at Commonwealth Bank. We meet clients face to face, or by phone, Zoom and Teams, at night and on weekends as well as work hours. We take your loan to 35+ lenders, compare the numbers, and show you the options. Ali is an MFAA accredited broker with a Diploma of Finance and Mortgage Broking Management and a Post Graduate in Accounting.
Terrace or apartment?
The numbers differ.
The two ends of this suburb behave nothing alike. We will show you what each looks like against your position.
Client stories
How we helped
Three real situations, and what actually happened in each one.
The first bank said no to it.
The property was a converted building and their own bank simply would not lend on it. Nothing about their income or deposit was the problem. Some lenders are uncomfortable with conversions and mixed use buildings, others are perfectly happy, and the gap between those answers was the purchase. We found one that suited and it settled on the original date.
The rent went further there.
They wanted an investment property and had been looking at terraces because that is what they knew. Once we put the numbers side by side, the apartment end of the same suburb returned considerably more rent against the purchase price, and a lender counts a portion of that rent when assessing you. The terrace was the nicer property. The apartment was the one their income supported.
Ready before it was listed.
They had already watched two properties go while they were still gathering documents. We went through the whole process properly, had pre-approval in place and sent property reports so they could move on something the week it appeared rather than the week after. In a market where the good terraces do not wait, being ready first turns out to be most of it.
These are past client stories, with details changed for privacy. Your own result depends on your situation and what the lender decides.
Free guides
What to know before you buy
Three free guides covering how a Alexandria purchase actually runs, from pre-approval to settlement.
Home loan pre-approval
What it covers, and how long it lasts.
Read the guide
Choosing a home loan
Fixed, variable, offset and redraw.
Read the guide
Settlement day
What has to be ready before then.
Read the guide
Read the free guides in the Loan Vault to know how the home buying process works in NSW.
What we do
Home loans for every Alexandria plan
First home
Learn more
Next home
Learn more
Investment property
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Refinancing
Learn more
Construction loans
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Bridging loans
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Guarantor loans
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No LMI and waived LMI
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Self employed home loans
Learn more
Not sure where to start? See what a mortgage broker actually does.
When did you last
check your rate?
We compare your current home loan against 35+ lenders. If a refinance saves you money we will show you the numbers, and if it does not we will tell you that too.
Your job matters
Home loans by profession
Some lenders drop lenders mortgage insurance for certain jobs, which matters at Alexandria terrace prices. The lists and the limits differ from one lender to the next, so it is worth checking where yours sits.
Home loans for
Doctors
Learn more
Home loans for
Dentists
Learn more
Home loans for
Accountants
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Home loans for
Lawyers
Learn more
Not sure if your job is on a list? See No LMI and waived LMI home loans, or ask us and we will check every lender on our panel.
Plan ahead
Run the numbers
Free tools that show you where you stand right now.
How it works
Three steps to your loan
1
Financial health check
2
Get pre-approved
3
Settle, then stay in touch
Client reviews
5.0 ★★★★★ on Google
Reviews from clients across Sydney.
★★★★★
"Cannot recommend Ali highly enough. He made a complicated and daunting process incredibly easy, and continually went above and beyond. Would absolutely recommend him to everyone."
★★★★★
"Ali is super knowledgeable, reasonable and personable! He will be realistic with what is possible but always find you the best deal whilst making you feel looked after."
★★★★★
"Ali is a maestro with a wealth of experience in home lending business, mixed with excellent people skills. His professional and supportive approach is a safe pair of hands to work with to get the required funds for your goal in the property market."
FAQ
Alexandria questions, answered
Why use a mortgage broker in Alexandria?
Because the housing here is unusually varied and lenders respond to that variation. A terrace, a new apartment and a converted warehouse are three different assessments, and one bank tells you only how it sees things. We compare 35+ lenders at no cost to you and manage the application through to settlement. Brokers also work under a legal obligation called the Best Interests Duty.
How much deposit will I need?
Twenty per cent avoids lenders mortgage insurance. At the apartment end that is a reachable figure for many buyers, and on a terrace it is a considerably larger one. Plenty of people proceed with five or ten per cent and pay the insurance instead. Some occupations can have it waived, and if you already own, equity generally replaces cash.
What is lenders mortgage insurance?
A one off premium charged when your borrowing exceeds eighty per cent of the property value, protecting the lender rather than you. It can usually be added to the loan instead of paid separately. A larger deposit removes it, as can a professional waiver with certain lenders, a family guarantee, or the Australian Government 5% Deposit Scheme if you qualify.
Can I use the 5% Deposit Scheme here?
At the apartment end it can work, provided the price sits under the scheme property cap, while terraces here sit well above it. The scheme lets an eligible first home buyer purchase with a 5% deposit and pay no lenders mortgage insurance, with Housing Australia guaranteeing the gap to 20%. It applies to a home you will live in rather than an investment.
How does a guarantor loan work?
A family member offers part of the equity in their property as extra security behind your loan. They make none of your repayments and no money changes hands. Most are limited guarantees covering a defined portion rather than their whole home. Once your loan has come down far enough the guarantee can be released, though somebody has to ask for it.
Can I buy with a friend or sibling?
People do, and it is more common at these prices than most buyers expect. A co-borrower goes on the title and the debt, so their income counts towards the assessment and the entire loan shows against them afterwards. How the title is held matters just as much, and your solicitor will take you through it. Each of you is liable for the whole loan.
How long does pre-approval last?
Around ninety days as a rule, renewable with updated payslips and statements. It gives you a real number to work with instead of an estimate. It is not approval on a particular property, and in this suburb that second step matters, because the building type is where a lender is most likely to have a view.
What reduces my borrowing capacity?
Credit card limits whether or not you owe anything, existing loan repayments, ongoing commitments, study debts and dependants. Lenders also test you at a rate well above the one you will actually pay. Reducing or closing facilities you no longer use often improves the outcome more than chasing a slightly sharper rate would.
Do strata levies affect the assessment?
Yes, because levies are counted as an ongoing commitment. Converted buildings and small strata schemes can carry levies that look modest while the forward maintenance is significant, particularly where an older structure is involved. The strata report is worth reading properly with your solicitor before you are committed rather than after.
What is an offset account?
An everyday account linked to your loan, where the balance is deducted before interest is calculated. Money held there reduces the interest you pay while staying fully available. It suits anyone who carries a working balance across the month. Loans with an offset can carry a slightly higher rate or annual fee, so it depends on what you typically hold.
Offset or redraw?
Offset money stays in your own account and never becomes part of the loan. Redraw money has already been paid in as extra repayments and comes back out under terms the lender can change. Offset gives you cleaner access. Redraw generally sits on a simpler loan at a lower rate, which can suit a first purchase where the rate matters most.
Should I fix the rate?
Fixing sets your repayment for an agreed period, which helps where a predictable outgoing matters more than flexibility. You forgo the benefit if rates fall. Variable follows the market and normally keeps an offset and unlimited extra repayments available. Fixed loans commonly cap extra repayments and can carry break costs if you exit early.
Can I split the loan?
Yes, and most lenders allow it at no extra cost. A split divides the borrowing into portions carrying different rates or terms, so you might fix one part for certainty and leave another variable with an offset attached. It also lets you keep a portion on a shorter term. Lenders rarely suggest it, so it is worth raising.
Interest only or principal and interest?
Principal and interest reduces the balance and costs less across the loan. Interest only keeps the repayment lower for a period without touching what you owe, so the debt is unchanged when the period ends and the repayment then steps up. It appears far more on investment lending, where the tax side belongs with your accountant.
Can I make extra repayments?
On a variable loan, usually without limit, and it compounds because every extra dollar reduces the interest charged from that day. Fixed loans normally cap what you can pay ahead each year and charge beyond it. If you expect to pay more than the minimum, check that limit before fixing rather than afterwards.
Is a terrace or an apartment the better investment here?
They behave differently and the right answer depends on your position rather than the property. Apartments return considerably more rent relative to price, and a lender counts a portion of that rent, so the numbers often work more easily. Terraces carry the land and a different growth profile. Because tax treatment differs too, that side belongs with your accountant.
How much of the rent will a lender count?
A portion rather than all of it. Expected rent is discounted for vacancy, management and running costs, with the figure differing between lenders, and the loan is assessed at a rate above the one you actually pay. On a terrace, where rent is low relative to price, that leaves your own income doing most of the work.
Can I use equity to buy an investment?
Yes. Rather than saving a second deposit, you release equity from a property you already own to cover the deposit and costs on the investment, so nothing comes out of savings. Two loans result, one secured by each property. Keeping them separate preserves your flexibility, and your accountant should review the structure first.
How should the loans be arranged?
Generally with each property securing its own loan rather than one lender holding both for the same borrowing. Bundle them and every later request is weighed against the whole arrangement, and selling either becomes harder than it should be. Separation also keeps investment borrowing clearly identifiable, which your accountant will want at tax time.
When is refinancing worth looking at?
Whenever a couple of years have gone by without comparing, because lenders reserve their sharper pricing for new customers and the gap widens quietly. It is also worth a look when a fixed term ends, or once your loan has come down under eighty per cent of the value, since that can improve the pricing available to you.
What does refinancing cost?
Generally a few hundred dollars to around a thousand. Your current lender charges a discharge fee, there are government fees to move the mortgage, and the incoming lender may charge settlement or valuation fees, though many waive them. Break costs on a fixed rate are checked first. Where the property is unusual, confirm the incoming lender accepts it before starting.
Does the loan term reset when I refinance?
It does unless you ask otherwise, because refinances default to a fresh thirty year term. That makes the monthly repayment look smaller while adding years of interest and handing back progress already made. Ask for the remaining term instead. No lender raises this for you, so it needs requesting every time you move.
Can I buy my next home before selling this one?
Yes, by one of two routes. Bridging finance settles the new purchase while this property is still on the market, with the sale paying the bridge out. Or you draw on the equity you already hold to fund the purchase and sell in your own time, which takes the pressure off the price you accept. Your equity and whether your income carries both loans for a period decide which is available.
Should I keep this place and rent it out?
Worth pricing against selling rather than deciding on instinct. The questions are whether your income supports both loans once part of the rent counts, and whether equity can be released without a sale. This is a strong rental area with a large proportion of renters. Keeping a former home changes its tax position, so speak with your accountant.
How much equity can I use?
Broadly eighty per cent of what the property is worth today, less what you still owe, with lenders mortgage insurance generally returning past that. On a terrace held for some years that figure is often larger than owners expect. What your income supports usually sets the practical limit rather than the equity itself.
The property is a conversion or in a mixed use building. Does that matter?
It can, considerably, and this is where a general answer is no use. Whether a lender will fund a converted building, an apartment above commercial space or a property on a former industrial site, and how much they will advance, differs between lenders and changes over time. Send us the address before you make an offer and we will check the panel.
Do we have to meet in person?
No. Everything runs by phone, Zoom or Teams, and most of our clients never sit across a desk from us. Documents are shared and signed electronically. If you would rather meet face to face we come to you, including weekday evenings and weekends.
Should I use my bank or a mortgage broker?
A bank offers its own loans under its own rules, and with a converted or mixed use building those rules decide the outcome before your income is considered. If the property does not suit them, that is the answer, and you usually find out after applying and paying for a valuation. We compare 35+ lenders first, at $0 cost to you.
Your Alexandria mortgage broker
Your home loan.
Made simple.
Free check. No pressure. 35+ lenders compared at $0 cost to you.
Alexandria sits in the inner south with the industrial past still visible around it. Beaconsfield and Erskineville are closest, with Eveleigh, Darlington and Redfern north and Zetland, Waterloo and Rosebery east and south. St Peters and Newtown lie west, with Chippendale and Camperdown beyond south towards the airport. We cover all of them, so if your search shifts a suburb or two, you are not starting from scratch.