Haymarket mortgage broker
Haymarket mortgage broker
A mortgage broker
who knows Haymarket.
The southern gateway of the city, where a great deal of the apartment stock is compact and floor area decides which lenders will look at it. We compare 35+ lenders and it costs you nothing.
35+
Lenders
10+
Years experience
1,000+
Clients helped
$0
Cost to you
About Haymarket
What the 2000 market actually looks like
History of Haymarket
The city produce markets stood here from the early twentieth century until they moved to Flemington in the 1980s, and Paddy Markets still occupies part of the old site. The Capitol Theatre, Railway Square and Central station anchor the area, with Chinatown and Thaitown within its boundaries and Darling Square built on the former goods yards.
Haymarket property market
Apartments and nothing else in any quantity. Towers around Darling Square and the Central edge, older blocks and converted buildings through the middle, and a large volume of purpose built student accommodation given UTS sits at the doorstep. The population skews young, households are small, and a high proportion of homes are rented rather than owner occupied.
Haymarket property prices
Below the harbour end of the city and among the more accessible parts of the centre, which is why first home buyers looking at the CBD often end up here. The range within the suburb is wide, driven far more by apartment size and building than by street. Rental demand is consistent, supported by the university and the transport interchange.
Borrowing in Haymarket
Floor area does more work here than anywhere else in the city. A considerable share of the apartments are studios or compact one bedroom homes, and lenders set expectations around internal size that narrow the field sharply below a certain point. The specific apartment matters more than the suburb, and it is worth checking before you offer.
Haymarket is one of the suburbs we cover across Sydney, and the one where apartment size decides the most applications.
Looking at a studio
or a small one bedder?
Internal area decides which lenders will consider it and how much they will advance. Send us the address first.
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.
Not sure what you
can actually borrow?
Plenty of people search for months against a number they guessed. The check is free and takes one conversation.
Client stories
How we helped
Three real situations, and what actually happened in each one.
The size ruled most of them out.
The apartment was smaller than the internal area a number of lenders will accept, which cut the field before anything about the borrower was considered. Those that would look at it advanced a smaller share of the value, meaning a larger deposit than planned. We established all of that at the start rather than after a valuation, so they went in knowing the real number and chose accordingly.
The guarantee bridged the gap.
They had a deposit that was respectable but well short of what the purchase needed, and had assumed that meant waiting another two years. A parent offered part of the equity in their own home as additional security instead. That removed the mortgage insurance and closed the gap, and we walked the whole family through exactly what was being pledged before anybody signed anything.
They looked before the number.
They had been inspecting for months against a figure they had settled on themselves, without ever putting it to a lender. It was a guess and it was well short of what they could actually borrow. Once we ran their position properly across the panel the number came back a long way above their assumption, and the search changed completely from that week on.
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 Haymarket 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 Haymarket 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 can save a first home buyer a considerable 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
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
Haymarket questions, answered
Why use a mortgage broker in Haymarket?
Because the apartment itself decides a great deal here. Size, building type and how a scheme is run all affect which lenders will lend and how much, and one bank tells you its own position after you have applied and paid for a valuation. We compare 35+ lenders at no cost to you, under a legal obligation called the Best Interests Duty.
Does the size of an apartment affect the loan?
It does, more than most buyers expect. Lenders set expectations around internal living area, measured excluding balconies and car space, and below a certain point the field narrows sharply. Those still willing often advance a smaller share of the value, which means a larger deposit. The floor plan in the contract gives you the number to work from.
Where do I find the internal area?
The contract and the strata plan show it, and the agent should be able to tell you before you go further. What matters is the internal living space rather than the total including balcony, courtyard and parking, since that is what a lender works from. Asking at the first inspection saves a great deal of time later.
Is student accommodation a different proposition?
Yes. Purpose built student accommodation usually comes with a management arrangement over it and restrictions on who can occupy, which is a very different security from an ordinary apartment. Some lenders will not consider it at all. If a property is being marketed on its rental return to students, that is worth checking carefully before you go any further.
How much deposit will I need?
Twenty per cent avoids lenders mortgage insurance, and at Haymarket prices that is more reachable than most of the city. Many buyers proceed with five or ten per cent and pay the insurance instead. Where the apartment is small, expect the required deposit to be higher, since lenders that will proceed often advance less against it.
What costs sit on top of the deposit?
More than people plan for, and a lender will not fund most of it. Transfer duty is usually the largest, then transfer and mortgage registration fees, conveyancing, a strata report, insurance before settlement, and adjustments for levies and rates already paid by the seller. Working out the whole figure before you start looking avoids a scramble at the end.
What is lenders mortgage insurance?
One premium, charged once, triggered the moment your borrowing crosses eighty per cent of what the property is worth. The name misleads people: it covers the lender, not you. Almost everyone capitalises it onto the loan. Four ways around it exist, being a bigger deposit, an occupational waiver, a family guarantee, or the Australian Government 5% Deposit Scheme where you qualify.
Can I use the 5% Deposit Scheme here?
This is one of the parts of the city where it genuinely can work, because prices more often sit under 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%. The apartment still has to be one a scheme lender will accept, which matters here.
How does a guarantor loan work?
A family member offers part of the equity in their property as extra security behind your loan, which can remove the mortgage insurance and close a deposit gap. They make none of your repayments and no money changes hands. Most are limited to a defined portion rather than their whole home, and it can be released once your loan has reduced enough.
What should the guarantor understand before signing?
That the pledged portion of their property is genuinely committed while the guarantee stands, which reduces what they can borrow themselves. Most are limited rather than unlimited, so only a defined amount is involved. We go through it with the whole family rather than just the borrower, because it is not a decision anybody should make from a summary.
I am not a permanent resident. Can I still borrow?
It depends on your visa and your circumstances, and lenders differ considerably. Some will consider certain visa categories, others will not, and there are separate rules about foreign purchasers that sit outside lending altogether and are administered by government. Rather than give you a general answer that may not apply to you, tell us your situation and we will work out who can help.
Do strata levies affect what I can borrow?
Yes, because levies count as an ongoing commitment in the assessment. In a tower with a pool, gym and concierge those levies are substantial and reduce your borrowing capacity compared with a plainer building at the same price. Across a year the difference is meaningful, so it belongs in your sums alongside the purchase price.
What should I look for in the strata report?
The capital works fund against the age of the building, the forward maintenance plan, any special levies raised or foreshadowed, and whether there is litigation on foot. Your solicitor reads it with you and flags anything that needs raising before you are committed. Order it early rather than in the final days before exchange.
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 rather than a guess. It is not approval on a particular apartment, because the property forms part of the assessment once there is a contract.
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 whether you could repay at a rate well above the one you will actually pay. Clearing small facilities before applying often does more for the outcome than a marginally sharper rate would.
What happens if the valuation comes in under the price?
The lender advances against its valuation rather than the price you agreed, so any gap is covered in cash at settlement. In a large building a valuer has plenty of similar recent sales to work from, which usually makes the figure predictable. A different lender uses a different panel and can return a different number.
What is an offset account?
A transaction account linked to your loan, where the balance is deducted before interest is calculated. Money held there reduces the interest you pay while remaining fully accessible. On a smaller loan it is worth checking whether the feature earns its keep, since loans with an offset can carry a slightly higher rate or an annual fee.
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 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 steady 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 or sell during the term.
Can I split the loan?
Yes, and most lenders allow it without 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 keep a consolidated debt on a shorter term. Lenders rarely raise it unprompted.
Interest only or principal and interest?
Principal and interest reduces the balance and costs less across the loan, which is what most people buying a home want. 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 steps up. It appears far more on investment lending, where the tax side belongs with your accountant.
Can I make extra repayments?
Variable loans usually let you throw as much at the balance as you like, and the benefit starts the day the money lands rather than at the end of the month. Fixed loans normally set an annual ceiling and charge you once you pass it. Anyone planning to pay down quickly should look at that ceiling before fixing, not after.
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. On a compact apartment, confirm the incoming lender accepts it before starting.
What does refinancing cost?
Budget a few hundred dollars up to roughly a thousand. There is a fee from the lender you are leaving, government charges for registering the change, and sometimes settlement or valuation fees from the incoming one, though many drop those. Where the loan is fixed, the break cost dwarfs everything else, so it is the first number we work out.
Does the loan term reset when I refinance?
It resets by default, because thirty fresh years is what the paperwork assumes unless somebody objects. Your repayment drops and years of interest quietly return. Three years into a loan means three years surrendered for a smaller monthly figure. Ask for whatever term remains. Lenders never raise it, so the request must come from you.
Should I keep the apartment and rent it out when I move on?
It is a common plan and worth pricing rather than assuming. The questions are whether your income supports both loans once part of the rent counts, and whether equity can be released without a sale. Rental demand here is steady given the university and the transport. Keeping a former home changes its tax position, so speak 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. Strata levies then come off as an expense, which is what makes an apartment assess differently from a house.
Can equity fund an investment purchase later?
Yes. Rather than saving a second deposit, you release equity from the property you 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 flexibility, and your accountant should look at the structure first.
The apartment is small or in a student building. Does that matter?
It can, and this is where a general answer is no use. How a lender treats a studio, a compact one bedroom, purpose built student accommodation or a building with a management arrangement over it all differ between lenders and change over time, and some will not lend at all. Send us the address before you 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 suits people working retail, hospitality or shift hours. 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 under its own rules, including a minimum apartment size it will not tell you about until you apply. If your property sits under it, the answer is no and you have already paid for a valuation. We compare 35+ lenders first, at $0 cost to you.
Your Haymarket mortgage broker
Your home loan.
Made simple.
Free check. No pressure. 35+ lenders compared at $0 cost to you.
Haymarket sits at the southern end of the city where the centre meets Central station. Chinatown lies within it, with World Square and Town Hall immediately north and Ultimo and Pyrmont west. Chippendale and Darlington run south towards Redfern, with Surry Hills and Darlinghurst east and Martin Place and Wynyard up in the city. We cover all of them, so if your search shifts a suburb or two, you are not starting from scratch.