Dawes Point mortgage broker
Dawes Point mortgage broker
A mortgage broker
who knows Dawes Point.
A few streets under the Harbour Bridge where almost everything is heritage listed and much of the housing was once a working wharf. We compare 35+ lenders and it costs you nothing.
35+
Lenders
10+
Years experience
1,000+
Clients helped
$0
Cost to you
About Dawes Point
What the 2000 market actually looks like
History of Dawes Point
Known to the Gadigal as Tar-ra, and the site of the first observatory in the country, set up at William Dawes request in 1788. The government resumed the wharves and housing across the Rocks and Millers Point early last century and rebuilt them, and the whole precinct went onto the State Heritage Register in 2003.
Dawes Point property market
Very small and very tightly held. Walsh Bay accounts for much of the housing, in finger wharves converted to apartments, alongside terraces on Lower Fort Street and a handful of newer buildings on the edges. Stock is scarce because heritage controls leave almost no room for new development, so entire years pass with only a few sales.
Dawes Point property prices
At the upper end of the Sydney market, with wharf apartments and heritage terraces both commanding a premium for position and rarity. Aspect matters enormously here, since a harbour outlook and an internal one are very different propositions. With so few transactions, any published median rests on a handful of sales.
Borrowing in Dawes Point
Two things come up here that rarely appear elsewhere. The properties are unusual, from converted wharves to State Heritage listed terraces, and lenders vary considerably in how they approach them. And at these price points a good number of buyers hold property through a trust or a company, which changes how the loan is set up.
Dawes Point is one of the suburbs we cover across Sydney, and the one where almost every building is heritage listed.
Buying a wharf
or a heritage terrace?
These are not standard securities and lenders differ widely. Send us the address before you commit.
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.
Buying through a
trust or company?
It changes the lender, the paperwork and the guarantees. Worth structuring properly from the start.
Client stories
How we helped
Three real situations, and what actually happened in each one.
Bridging bought the time.
They found the property they wanted before the current one had sold, and were being pushed towards a soft offer so the dates would line up. Bridging finance funded the purchase while the old property stayed on the market, so they held both for a period and cleared the bridge once the sale settled. They sold on their own terms rather than to somebody else deadline.
Two loans, two securities.
One lender held both of their properties as security for the same borrowing, so every request was assessed against the whole arrangement and every answer came back cautious. We refinanced and gave each property its own loan. That restored the ability to sell or refinance either one independently, and the pricing improved at the same time.
The rate was not the saving.
They came to us expecting to refinance and we ran the comparison properly across the panel. Once the break costs, the discharge fee and the government charges were set against the rate difference, moving did not stack up. We told them so and they stayed where they were. It is not what anyone expects a broker to say, and it was the right answer.
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 Dawes Point 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 Dawes Point 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 Dawes Point prices that is a very large sum. The lists and the limits differ from one lender to the next.
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 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
Dawes Point questions, answered
Why use a mortgage broker in Dawes Point?
Because the properties here are unusual and the loans are large, and lenders differ considerably on both. A converted wharf apartment and a State Heritage listed terrace are not standard securities, and one bank tells you only its own position, usually after you have applied. We compare 35+ lenders at no cost to you, under a legal obligation called the Best Interests Duty.
Can I buy a property in a trust or company name?
Yes, and it changes the loan rather than preventing it. Fewer lenders write these, the documentation is heavier, and directors or trustees are generally asked to guarantee the borrowing personally. The structure itself is a question for your accountant and solicitor, since the tax and asset protection consequences are theirs to advise on. Our part is finding the lenders that will fund whatever they set up.
Does buying in a trust change the rate or the deposit?
It can. The pool of lenders is smaller, and some price these arrangements differently or advance a smaller share of the value. Not all do. Because the field narrows, the choice of lender matters more than usual, and it is worth establishing what is available before the structure is finalised rather than afterwards.
What does a director guarantee involve?
Where a company or trustee company is the borrower, lenders generally require the directors to guarantee the loan personally, which means the debt sits behind you as an individual as well. It is standard rather than unusual, and it does affect what you can borrow in your own name afterwards. Worth understanding before you sign rather than discovering later.
How much deposit would I need here?
Twenty per cent avoids lenders mortgage insurance, and at these prices that is a very large figure. Some occupations qualify for a waiver, which at this end of the market is a meaningful saving. Most buyers here already own property, so equity generally does the work rather than cash. Where a trust or company is involved, expect the requirement to be higher.
What is lenders mortgage insurance?
A one off premium charged when your borrowing exceeds eighty per cent of the property value, and it protects 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 where you are eligible.
Would the 5% Deposit Scheme apply here?
Realistically not, since prices in this precinct sit far above the scheme property cap. 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 is genuinely useful in parts of Sydney where apartments are cheaper, and we can point you to where it fits.
Does a large loan get assessed differently?
The logic is the same, with more scrutiny of income and more documentation to gather. Where income includes bonuses, share based payments, company distributions or trust income, lenders differ considerably in how much they count. Getting that presented properly at the outset usually decides the outcome more than the rate on offer does.
How does a valuer price something this rare?
By widening the search, because there are very few comparable sales. They look at recent transactions in the precinct and in similar harbourside pockets, then adjust for aspect, size and condition. That involves more judgement than a standard apartment, so different lenders using different panels can land some distance apart on the same property.
What happens if the valuation comes in low?
The lender advances against its valuation rather than the price you agreed, so any gap is covered in cash at settlement. On a large purchase that gap can be substantial. A different lender using a different panel can reach a different figure, which is worth knowing while there is still time to act rather than in the final week.
Do strata levies affect what I can borrow?
Yes, because levies are counted as an ongoing commitment. In a converted heritage building with substantial maintenance obligations those levies can be considerable, and the forward maintenance on a structure of that age is the item to look at. It reduces borrowing capacity in the same way any other commitment does.
What should I look for in the strata report?
The capital works fund set against the age and complexity of the building, the forward maintenance plan, any special levies raised or foreshadowed, and whether there is litigation on foot. In a heritage structure the facade, the fabric and any waterfront elements are where the money goes. Your solicitor will read it with you before you commit.
How long does pre-approval last?
Around ninety days as a rule, renewable with updated payslips and statements. It tells you what a lender will consider based on your circumstances. It is not approval on a particular property, and here the property is exactly where questions arise, so it is worth raising an address with us as soon as one is in view.
What is an offset account?
A transaction account linked to the loan, where the balance is deducted before interest is calculated. Money held there reduces the interest charged while staying fully available. On a large balance the effect is considerable. Where the loan sits in a company or trust name, how offset is used can also matter for tax, which is a question for your accountant.
Offset or redraw?
Offset money remains in your own account and is never paid into the loan. Redraw money has already gone in as extra repayments and comes back out under rules the lender can change. Offset gives certainty of access, which matters more the larger the sum involved. Redraw generally sits on a simpler loan at a lower rate.
Should I fix the rate?
A fixed rate holds the repayment steady for an agreed period and you forgo the benefit if rates fall. Variable follows the market and usually keeps an offset and unlimited extra repayments. Fixed loans commonly restrict extra repayments and can carry break costs on early exit, which on a balance of this size can be a substantial figure.
Can I fix part and leave part variable?
Yes, through a split, and most lenders allow it without an extra charge. Fixing a portion gives certainty over part of the repayment while the variable portion keeps an offset and free extra repayments. On larger loans that combination is genuinely useful, and it is rarely offered unprompted so it is worth asking for.
Interest only or principal and interest?
Principal and interest reduces the debt and costs less across the loan. Interest only keeps the repayment lower for a period while the balance stays where it is, so nothing is repaid and the repayment rises when the period ends. It appears far more on investment lending and on borrowing held through a structure, where the tax position is your accountant area.
Can I make extra repayments?
On a variable loan, generally without limit, and on a large balance the compounding is significant. Fixed loans typically cap what you can pay ahead each year with a fee beyond it. Where the borrowing sits in a trust or company, whether to pay ahead at all rather than direct funds elsewhere is worth raising with your accountant.
Can I buy before I sell?
Yes. Bridging finance funds the new purchase while the current property is on the market, and the sale clears it at settlement. Or, where the equity and your income allow, you release equity from the existing property to fund the purchase and sell afterwards. With so little turnover in this precinct, taking the deadline off a sale is often worth more than it costs.
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. Here the valuation is worth establishing properly rather than assumed, since comparable evidence is thin. What your income supports usually sets the practical limit rather than the equity itself.
Can equity fund another purchase?
Yes. Rather than saving a fresh deposit, you release equity from a property you already own to cover the deposit and costs on the next one, so nothing comes out of savings. Two loans result, one secured by each property. Keeping them separate preserves your options, and your accountant should review the structure first.
Why keep the loans separate?
Because when one lender holds several properties for the same borrowing, every later request is assessed against the whole arrangement and selling any one of them becomes a negotiation rather than a decision. Separating them restores control. It also keeps investment borrowing clearly identifiable, which is what your accountant will want at tax time.
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 pay. Levies come off on top. At these prices the rent covers a small share of the repayment, so your own income does the work.
When is refinancing worth looking at?
Whenever a couple of years have gone by without comparing, because on a large balance a modest difference in rate is meaningful money each year. It is also worth reviewing when a fixed term ends or when you want to release equity. Sometimes the comparison shows staying put is better once costs are counted, and we will say so.
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 get checked before anything else, since on a balance this size they can outweigh the benefit entirely.
Does the loan term reset when I refinance?
It resets unless somebody raises it, because a new thirty year term is what lenders default to. The monthly figure improves and years of interest quietly reappear. On a balance of this size that is a very large amount of money over time. Ask for the remaining term. It is never offered, so it has to be requested on every refinance you do.
The property is heritage listed or a converted wharf. Does that matter?
It can, considerably, and a general answer is no use here. How a lender treats a State Heritage listed property, a converted wharf building or an apartment over water, how much it will advance and whether it will proceed at all differ between lenders and change 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, which helps where a trust or company structure means more paperwork than usual. If you would rather meet face to face we come to you, including evenings and weekends.
Should I use my bank or a mortgage broker?
A bank offers its own loans, its own valuation panel and its own rules on unusual property and on lending to trusts and companies. If any of those do not fit, the answer is no, and you find out after applying and paying for a valuation. We compare 35+ lenders first, at $0 cost to you.
Your Dawes Point mortgage broker
Your home loan.
Made simple.
Free check. No pressure. 35+ lenders compared at $0 cost to you.
Dawes Point sits under the southern end of the Harbour Bridge. The Rocks and Millers Point adjoin it, with Circular Quay east and Barangaroo south along the waterfront. Wynyard and Martin Place sit in the city behind, with Town Hall further south and Pyrmont west. Across the bridge are Milsons Point, Kirribilli, McMahons Point and Lavender Bay. We cover all of them, so if your search shifts a suburb or two, you are not starting from scratch.