Eveleigh mortgage broker
Eveleigh mortgage broker
A mortgage broker
who knows Eveleigh.
A few hundred homes wrapped around a heritage rail precinct and a working office campus, where what a lender sees on your file matters more than the suburb ever will. We compare 35+ lenders and it costs you nothing.
35+
Lenders
10+
Years experience
1,000+
Clients helped
$0
Cost to you
About Eveleigh
What the 2015 market actually looks like
History of Eveleigh
The railway workshops opened in 1882 and ran until 1988, employing thousands and building rolling stock for the whole state network. The site is heritage listed and now holds Carriageworks and, at the southern end, the campus that replaced the Australian Technology Park. Housing here has always been secondary to the workshops.
Eveleigh property market
One of the smallest residential markets in Sydney, with only a few hundred dwellings across half a square kilometre and a population that has been declining rather than growing. The housing is a mix of terraces along the northern streets, apartments from recent redevelopment, and a proportion of social housing. Most of the land is precinct rather than homes.
Eveleigh property prices
Difficult to generalise, because so little trades and the stock is so varied. Some published figures for this postcode are plainly wrong, blending in neighbouring suburbs or throwing up numbers that bear no relation to the market. Treat any suburb median here with real caution and price the specific property instead.
Borrowing in Eveleigh
With so few properties, most of what decides an application here sits with you rather than the address. What is on your credit file, what limits you hold, what you owe elsewhere and how a lender reads all of it. Those are the things worth sorting before you start looking, because they set the number.
Eveleigh is one of the suburbs we cover across Sydney, and the smallest residential market on the list.
Not sure what a
lender will see?
Your credit file, your limits and your commitments all shape the number. Worth understanding before you apply anywhere.
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.
Been told
no once already?
One lender declining is one opinion. We look at why, fix what can be fixed, then take it to the right lender.
Client stories
How we helped
Three real situations, and what actually happened in each one.
The cards were the problem.
Their capacity came back well short and neither of them could see why, because nothing was owing on either card. A lender assesses a credit card on its limit rather than its balance, on the basis the full amount could be drawn tomorrow. The limits had been raised years earlier and left alone since. Reducing and closing them lifted the number without changing anything about how they lived.
The study debt weighed in.
A study debt was costing them more than the balance suggested, because the compulsory repayment reduced the income a lender counted as available and moved them into a bracket where less would be advanced. Paying it out took them over that line, and the saving across the loan was considerably larger than the debt. Nobody had shown them those two figures side by side.
They never asked a lender.
They had a solid deposit and had settled on a figure they believed was their limit, without ever putting it in front of anybody. It was a guess and it was well short. Once we ran their position properly across the panel the number came back a long way above what they had assumed, and they had spent months looking in a bracket they were never confined to.
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 Eveleigh 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 Eveleigh plan
First home
Learn more
Next home
Learn more
Investment property
Learn more
Refinancing
Learn more
Construction loans
Learn more
Bridging loans
Learn more
Guarantor loans
Learn more
No LMI and waived LMI
Learn more
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 is worth checking before you set a deposit target. 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
Learn more
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
Eveleigh questions, answered
Why use a mortgage broker in Eveleigh?
Because almost nothing trades here, so most of what decides an application is your own position rather than the property. Lenders read the same file very differently, and one bank shows you one reading of it. We compare 35+ lenders at no cost to you and prepare the application so it holds together. Brokers also work under a legal obligation called the Best Interests Duty.
What is on my credit file?
Your credit file records the accounts you hold and have held, the credit limits on them, your repayment history month by month, applications you have made, and any defaults or court judgments. Lenders look at it as part of every application. You can request a copy from the credit reporting bodies at no charge, and it is worth doing before you apply rather than after.
Does applying for a loan affect my credit file?
Each formal application leaves an enquiry recorded on your file, and several in a short period can look like you are struggling to get approved even where every application was sensible. That is the argument for preparing one application properly rather than lodging with a few lenders to see who says yes. Working out which lender suits first is part of what we do.
How long do things stay on my file?
Different entries have different retention periods set under the credit reporting rules, with enquiries, repayment history and defaults each treated separately and none of them staying forever. The practical point is that time helps, and that a clean run of recent repayments carries weight. Your credit report will show what is recorded and when each item is due to drop off.
I have had a default. Can I still get a loan?
Often, and it depends on the size, the age and the circumstances. A small telco default from years ago sits very differently from a recent default on a loan. Lenders take a range of views and some specialise in exactly this. What helps is having the explanation and the paperwork ready rather than hoping it goes unnoticed, because it will not.
Do buy now pay later accounts matter?
They increasingly show up in a lender assessment, both as a commitment and as a signal about how you manage money month to month. Whether they count against you depends on the lender and on how you have used them. Where you are preparing to apply, winding them back beforehand removes the question altogether.
Do credit card limits really reduce what I can borrow?
They do, and it surprises almost everyone. A lender works from the limit rather than the balance, on the basis the whole amount could be drawn tomorrow. A card sitting at zero still reduces your capacity by a monthly figure derived from that limit. Cutting or closing unused cards is one of the few genuinely quick improvements available before an application.
What else reduces my borrowing capacity?
Existing loan repayments, personal and car finance, ongoing commitments, study debts and dependants. Lenders also test whether you could repay at a rate well above the one you will actually be charged, and they apply that to your current debts too. Going through the whole picture before applying often makes more difference than the rate you end up with.
How do lenders check my living expenses?
They ask what you spend, then compare it against a benchmark based on your income, location and household size, and generally assess you on whichever is higher. That is why cutting back for a couple of months before applying helps less than people hope. Statements are reviewed as well, so declared figures need to be consistent with what they show.
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 position so you can look with a real figure. It is not approval on a particular property, which is a separate assessment once you have a contract.
How much deposit will I need?
Twenty per cent avoids lenders mortgage insurance. Buying with less is common where you pay the insurance instead, some occupations qualify for a waiver, and a family guarantee can reduce what is needed. If you already own, equity generally does the job in place of cash. The useful order is establishing what you can borrow first.
What is lenders mortgage insurance?
A one off premium charged when your borrowing exceeds eighty per cent of the property value, and it covers 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.
Can I use the 5% Deposit Scheme here?
It depends entirely on the property and the price. 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%. There is a property price cap and eligibility conditions, and the property still has to be one a scheme lender will accept.
How does a guarantor loan work?
Someone in your family, usually a parent, puts up part of the equity in their own home as extra security so you can borrow without the deposit you would otherwise need. They are not making your repayments and nothing changes hands in cash. Most are capped at a set portion rather than the whole property, and the arrangement can be unwound once your loan has reduced enough.
What documents will I need?
Identification, recent payslips and a payment summary if you are employed, or tax returns and financials if you work for yourself, plus statements covering your accounts and any existing loans or cards. If you are buying, the contract as well. We tell you exactly what is needed at the start rather than asking for things piecemeal.
What is an offset account?
Think of it as a savings account that lowers your interest bill instead of earning interest. Whatever sits in it is taken off the loan balance before the lender works out what you owe for the month, and you can spend the money whenever you like. Loans carrying the feature occasionally price a little higher, so the balance you keep is what makes it worthwhile.
Offset or redraw?
It hinges on where the money sits. Offset leaves it in your own account under your control. Redraw means it has already gone into the loan and getting it out again depends on the lender rules, which they can tighten. Offset is the safer bet if you might need the cash. Redraw usually comes attached to a cheaper, plainer loan.
Should I fix the rate?
Fixing sets your repayment for an agreed period, which helps where a predictable figure matters more than flexibility. You forgo the benefit if rates fall. Variable follows the market and normally keeps an offset and unlimited extra repayments. 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 on different rates or terms, so you might fix one part for certainty and leave another variable with an offset attached. It also lets you hold a consolidated debt on a shorter term. Lenders rarely raise it unprompted.
Interest only or principal and interest?
The distinction is whether you are actually repaying anything. Principal and interest brings the balance down each month and works out cheaper overall. Interest only pauses that for a set stretch, leaving the debt exactly where it started and the repayment higher once the period runs out. Investment borrowing uses it far more. Your accountant covers the tax angle.
Can I make extra repayments?
Variable loans normally let you pay as much extra as you want, and the benefit compounds since the interest drops from the day the payment lands. Fixed loans usually put a yearly ceiling on it with a charge once you go over. If you plan to pay ahead, look at that ceiling before you commit to fixing.
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, when your circumstances have improved, or once your loan has come down under eighty per cent of the value.
What does refinancing cost?
Count on a few hundred dollars up to roughly a thousand. Your outgoing lender charges to discharge, there are government charges to register the change, and the new lender may want settlement or valuation fees, although a lot of them waive those. Fixed rate break costs come first in the sums, because they can settle the question on their own.
Does the loan term reset when I refinance?
Unless you raise it, yes, because thirty years fresh is what lenders default to. The repayment looks better and a stack of interest quietly returns. Seven years in, that is seven years surrendered. Ask for whatever term is left instead. Nobody offers it, so the request has to come from you each time.
Can I buy my next home before selling this one?
Yes, and there are two ways through it. Bridging finance settles the new place while the old one is still on the market, cleared by the sale when it comes. Or you draw on equity already built up, fund the purchase outright and sell in your own time. Equity and whether your income stretches to both decide which is on the table.
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. In a market this small the valuation is worth establishing properly rather than assumed. What your income supports usually sets the practical limit rather than the equity itself.
Can equity fund an investment purchase?
Yes, and it spares you saving a deposit twice over. Equity pulled from what you already own pays the deposit and the costs on the next property, so your savings stay untouched. You end up with two loans, each tied to its own property. Get your accountant across the structure before it is put in place.
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. Levies come off as an expense on an apartment as well.
Should I trust the published median for this suburb?
Be careful with it. With so few dwellings and so little turnover, published figures for this postcode can be distorted or plainly wrong, and some of what appears online bears no relation to the market at all. Price the specific property against genuinely comparable recent sales rather than working from a suburb average.
The property is unusual or in a redevelopment precinct. Does that matter?
It can, and a general answer is no use. How a lender treats an apartment in a recent development, a converted building or a property in a precinct still being built out differs between lenders and changes over time. Send us the address before you make an offer and we will check it across the panel for you.
Do we have to meet in person?
Only if that is what you prefer. Phone or video works for the whole process, with documents shared and signed electronically. Plenty of our clients never meet us face to face. If you would rather we came to you, we do that too, including evenings through the week and on weekends.
Your Eveleigh mortgage broker
Your home loan.
Made simple.
Free check. No pressure. 35+ lenders compared at $0 cost to you.
Eveleigh sits between the university and the inner south, wrapped around the old railway workshops. Darlington and Erskineville are either side, with Redfern east and Newtown west. Alexandria and Beaconsfield run south, with Chippendale and Ultimo towards the city and Haymarket beyond. Camperdown and Forest Lodge lie north west and Waterloo south east. We cover all of them, so if your search shifts a suburb or two, you are not starting from scratch.