Cammeray mortgage broker
Cammeray mortgage broker
A mortgage broker
who knows Cammeray.
A suburb where published medians disagree by half a million and units sell in under a month. Neither number is a valuation. We compare 35+ lenders and it costs you nothing.
35+
Lenders
10+
Years experience
1,000+
Clients helped
$0
Cost to you
About Cammeray
What the 2062 market actually looks like
History of Cammeray
Named for the Cammeraygal people. The suburb took shape after the Suspension Bridge opened across Long Bay in 1892, and the tram brought the Federation and interwar housing that still fills the streets. The golf course sits in the gully below, and the Warringah Freeway cut through the eastern edge in the 1960s, which still shapes how the suburb reads.
Cammeray property market
Family homes on established blocks through the middle, with apartments concentrated near Miller Street and the shops. Around 1.6 square kilometres with about a quarter of it parkland. In a typical year around a hundred and thirty units sell against roughly fifty houses, and units move quickly, often in under a month. Households are mostly professionals and childless couples.
Cammeray property prices
Published medians for houses vary from about $3.3 million to nearly $3.9 million depending on which source you read and which sales are counted, and reported yields range from under two per cent to nearly three. Units sit around $1.3 to $1.4 million. That spread between sources is worth knowing before you rely on any single figure.
Borrowing in Cammeray
Two things. Loan size on the house side, since purchases here sit past where lenders apply internal limits. And speed on the unit side, because apartments here sell in around twenty six days, so finance has to be settled before you start looking rather than after you find something.
Cammeray is one of 32 suburbs we cover across the North Shore, and the one where published price data disagrees with itself most.
Working from an
online estimate?
Send us the address and we will email you a free RP Data property report, which is a great deal closer to what a lender will see.
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.
Apartments here sell
in under a month.
There is no time to start an application once you have found the one you want. Pre-approval first is the whole game.
Client stories
How we helped
Three real situations, and what actually happened in each one.
Two numbers, one property.
They had planned their purchase around an online estimate and were surprised when the lender's valuation came back well under it. Automated estimates work from sales data and known attributes, not from walking through the property, so they can miss a great deal. We ordered valuations through more than one lender, since panels differ, and one supported the price. The gap between the estimate and reality was the entire problem.
The unit market moved fast.
A first home buyer who did not know where to start. We went through the whole process, prepared the application properly and had pre-approval through the same day, then sent property reports so they could look with real numbers rather than guesses. They found a place that week and bought it. In a market where apartments sell in under a month, being ready first is what makes it possible at all.
The rent went nowhere near.
They were buying a house to let and had built their numbers off the full rental appraisal. Lenders do not work that way. They count a portion of expected rent, commonly around eighty per cent, and assess the loan at a rate well above the actual one. On a house yielding barely two per cent that left their own income carrying almost the whole assessment, which changed the price range they searched in.
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 Cammeray 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 Cammeray plan
First home
Learn more
Next home
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Investment property
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Refinancing
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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
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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, and at Cammeray house prices that is a very large sum. The lists and the limits differ from one lender to the next, so it is worth checking where yours sits.
Home loans for
Doctors
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Home loans for
Dentists
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Home loans for
Accountants
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Home loans for
Lawyers
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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 was very professional and was able to help with our complicated loans to refinance. He kept us up to date throughout the process and made sure my wife and I understood everything before signing and that we had no issues after settlement."
FAQ
Cammeray questions, answered
Why use a mortgage broker in Cammeray?
Because two very different markets sit inside one small suburb. House purchases run past where lenders apply their own internal limits, so the field narrows before your income matters. Apartments sell in around twenty six days, so your finance has to be ready before you look. Brokers also have a legal duty called the Best Interests Duty, which means we have to put you first.
Why do published medians for Cammeray vary so much?
Because each source counts different sales over different periods. With only around fifty house sales in a year, a handful of large or small results moves the figure considerably, and some sources include estimated values for properties that have not sold while others use settled sales only. Reported medians here range across roughly half a million dollars. None of them is wrong exactly. None is a valuation of your property either.
Is an online estimate the same as a valuation?
No, and the difference costs people money. An automated estimate works from sales data and recorded attributes without anyone seeing the property, so it cannot account for condition, renovation, outlook or aspect. A lender's valuation is done by a qualified valuer who inspects and reports. Where the two differ, the lender lends against the valuation. Treat an online figure as a starting point rather than a number to plan a purchase around.
What is a desktop valuation and when will a lender use one?
A desktop valuation is prepared by a valuer from available data without a physical inspection, and lenders use them on straightforward properties where the loan sits at a comfortable share of value. They are faster and usually free. Where the property is unusual, the loan is large, or the address needs a closer look, the lender will order a full inspection instead. On a Cammeray house that is the more likely path.
Apartments here sell very quickly. What should I do first?
Get pre-approval before you start attending inspections. With units moving in under a month, there is no time to begin an application after you have found something, and an offer without finance behind it carries far less weight. Pre-approval usually lasts around ninety days and can be renewed. In a market this fast it is worth more than chasing a marginally better rate.
Are large loans assessed differently?
Not harder, but they are looked at more closely and the field narrows. Past certain loan sizes some lenders add extra checks, want more documentation, cap how much of the value they will advance, or apply internal limits. At Cammeray house prices most buyers are in that territory. On the apartment side the loans are far smaller and the question rarely arises, which is another way the two markets differ here.
The house yield is low. Does that affect an investment loan?
Considerably. Reported yields on Cammeray houses sit between roughly two and three per cent depending on the source, and lenders count only a portion of expected rent as income while assessing the loan at a rate above the actual one. That leaves your own income carrying most of the assessment on a very large loan. Units return meaningfully better, so the same buyer can find the numbers work on one and not the other.
How much of the rent will a lender count?
Not all of it. Lenders count a portion of the expected rent as income, commonly around eighty per cent, to allow for vacancy, management and costs, and they differ on the exact figure. They also assess the new loan at a rate well above the actual one. Vacancy here is low, so the rental appraisal tends to be reliable, but the assessment still shades it down a long way.
Does the freeway affect a valuation?
It can, on the properties closest to it. A valuer records traffic noise in the same way as a main road or a rail line, comparing against sales in quieter streets nearby. The market has priced it in for decades, so it is usually reflected in what you are paying rather than deducted again. Where it matters is a lender comparing your contract against sales from the other side of the suburb, so a buffer is worth having.
What about backing onto the golf course or the reserve?
Generally a positive. A valuer treats an open outlook over the course or parkland much like a reserve frontage, since nothing is going to be built on it, and about a quarter of the suburb is parkland. The practical questions are insurance and fencing, and properties along a fairway occasionally deal with stray balls, so it is worth asking your insurer how they treat it rather than assuming.
How much equity can I use?
Usable equity is roughly 80% of what your place is worth today, less what you still owe. Go past 80% and lenders mortgage insurance usually comes back into it. Because it follows a valuation rather than an online estimate, and estimates here can be a long way out, it is worth establishing properly. Owners who have held for the average decade or so are often surprised by the real figure in both directions.
How much deposit do I need in Cammeray?
A 20% deposit avoids lenders mortgage insurance. On a Cammeray apartment that is a reachable figure for many buyers, and on a house it is a very different number. Plenty of people get in with 5 or 10% and pay the insurance instead, some professions can skip it, and a family guarantor loan can cut the deposit further again. Allow a buffer, since the valuation may not match what an online estimate suggested.
Can I buy my first home in Cammeray with a 5% deposit?
At the apartment end, sometimes, provided the price sits under the scheme's property cap. The Australian Government 5% Deposit 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 is a guarantee, not a grant. In a market where units sell in weeks, having the scheme lender sorted before you look matters as much as qualifying.
How does a guarantor loan work?
A family member, usually a parent, offers part of the equity in their property as extra security for your loan. They do not make your repayments and no cash changes hands. Most are set up as a limited guarantee, so only a defined portion of their home is at risk. Setting one up adds time to an application, which matters in a fast market, so it is worth arranging before you start looking rather than mid negotiation.
What is the difference between a guarantor and a co-borrower?
A guarantor supports the loan with their property but is not on the title or the debt. A co-borrower is on both, so the whole loan shows on their credit file and counts against whatever they want to borrow next. Co-borrowing lifts what you can afford because both incomes count. In a suburb of professional couples buying their first place together, that distinction comes up more often than people expect.
Do lenders treat the apartments near Miller Street differently?
Some do. Where a lender classifies a building or a pocket as high density, it lends a smaller share of the value, which means a larger deposit. Compact one bedders can also fall under a minimum internal floor size, measured on living area rather than the whole title. On an older block the capital works fund and any special levy come into it. None of it is uniform, so the specific address is worth checking.
What should I check in the strata report?
The balance of the capital works fund against the age of the building, any special levy struck or being discussed in the minutes, and whether there is a live dispute. In a market where apartments sell in under a month there is pressure to skip this, which is exactly why it matters. Order the report as soon as you are interested rather than once you have decided, so you are not reading it under a deadline.
Should renovation money come out of the home loan?
For cosmetic work, usually yes, because home loan rates sit well below personal loan rates and a top up on the existing loan is simple. Once you are changing the structure, most lenders want a construction loan, which releases funds in stages against approved plans and a fixed price contract and values the property on what it will be worth finished. On an interwar Cammeray home that is a common path.
What is an offset account and is it worth having?
An offset is a transaction account linked to your loan. Every dollar in it reduces the balance interest is charged on, without being locked away. On a Cammeray house loan the effect is significant because the saving scales with the balance. On an apartment loan, check the package fee against the balance you actually hold, since on a modest loan a basic product with no fee can win.
Offset or redraw. What is the difference?
Redraw means paying extra off the loan and taking it back later. Offset means the money sits beside the loan in its own account. The interest effect is similar. What differs is access and treatment, because redraw can be restricted by the lender and money you redraw counts as new borrowing rather than your own savings returning. Given how often a Cammeray unit is kept and let when people move up, offset is the cleaner structure. Your accountant can explain why.
Should I fix my rate or stay variable?
Fixed gives certainty for a set period, usually one to five years. Variable gives flexibility, an offset account and unlimited extra repayments. Most fixed loans do not come with a usable offset, which matters more at house loan sizes here than at unit sizes. Breaking a fixed loan early can be expensive, so if a move within the area is likely inside that period, the term matters more than the opening rate.
Can I split the loan between fixed and variable?
Yes, and on a house loan here it is often the sensible answer. You fix a portion for repayment certainty and leave the rest variable so the offset still works against it. A good rule is to leave at least as much variable as the balance you typically hold in offset. On a smaller apartment loan check whether the lender charges per split, since that changes the arithmetic on a modest balance.
Interest only or principal and interest?
On a home you live in, principal and interest is almost always the answer, because interest only means you owe the same at the end of the period as at the start. On an investment here it is a genuine question, and the answer differs between a house and a unit given the yield gap. The catch is that lenders assess an interest only loan on the repayment it reverts to, so it cuts into your next application. Work it through with your accountant.
Should I sell first or buy first?
Houses here average around thirty six days on market and units around twenty six, so selling is not usually the slow part. Finding the replacement is. Buying first means bridging finance funds the purchase before your sale settles, which costs more while both loans run but removes the pressure from your search. Your equity and whether your income holds both loans decide which is genuinely open to you.
When I refinance, does my loan term reset?
Only if you let it. Most refinances default to a fresh thirty year term, which makes the monthly repayment look better and quietly adds years of interest. Ask for the remaining term instead, so a loan with twenty years left stays a twenty year loan. Nobody offers this, so it has to be asked for. On a Cammeray house loan the cost of accepting the reset runs to a great deal of money.
How much does it cost to refinance a home loan?
Usually 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 new lender may charge a settlement or valuation fee, though plenty waive them. If you are on a fixed rate there can be break costs, so they get checked first. Worth knowing that the valuation on refinance may land differently from an online estimate you have been watching.
I live in Cammeray but want to buy elsewhere. Does that matter?
Far less than people expect. A lender assesses you, then it assesses the property you are buying. Where you currently live barely features. What does matter is the postcode and property type you are buying into, because lender restrictions attach to the security rather than to your address. Given local yields, plenty of Cammeray owners deliberately buy their investment somewhere with a stronger return.
Should I use my bank or a mortgage broker?
A bank can only offer its own loans, its own valuation panel and its own rules. That last point matters here, because one panel's number on a property where published data varies so widely is a narrow view, and a second opinion can be worth a great deal. A broker checks it against many lenders first, and quickly enough to matter in a fast market. Buyvest compares 35+ lenders at $0 cost to you.
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Cammeray sits between the freeway and Middle Harbour, so its neighbours ring it closely. Northbridge is across the Suspension Bridge and Crows Nest is west, with Neutral Bay and Cremorne east along Military Road towards Mosman. South towards the Bridge sit North Sydney and Lavender Bay. North and west are St Leonards, Wollstonecraft, Willoughby, Castlecrag and Artarmon. We cover all of them, so if your search shifts a suburb or two, you are not starting from scratch.