Kirribilli mortgage broker
Kirribilli mortgage broker
A mortgage broker
who knows Kirribilli.
Three thousand dwellings on forty hectares, mostly one bedroom apartments in older blocks, where the title and the floor plan matter more than your payslip. We compare 35+ lenders and it costs you nothing.
35+
Lenders
10+
Years experience
1,000+
Clients helped
$0
Cost to you
About Kirribilli
What the 2061 market actually looks like
History of Kirribilli
The name comes from a word meaning good fishing spot. Grand houses went up along the harbour in the nineteenth century, two of which became Admiralty House and Kirribilli House. From the 1920s the large gardens were subdivided for apartment blocks, and that wave of interwar and post war building is most of what stands today.
Kirribilli property market
Around three thousand dwellings packed into roughly 0.4 square kilometres, and almost all of them apartments. In a typical year there might be sixty five unit sales against fourteen house sales. The average household is 1.7 people, so one bedroom and studio apartments dominate. Vacancy sits under one per cent, which is about as tight as Sydney gets.
Kirribilli property prices
Unit medians have been reported anywhere between roughly $1.19M and $1.32M depending on the source and the mix of sales counted, with larger apartments running well past that. The few houses sit in the millions. What stands out recently is rent, which has grown far faster than prices, so yields have been moving even as values have not.
Borrowing in Kirribilli
Two things decide most applications and neither is your income. Whether the apartment is strata or company title, since a good number of lenders will not fund company title at all. And the internal floor area, because so much of the stock here is one bedroom or studio and lenders set minimum sizes that a good deal of it sits close to.
Kirribilli is one of 32 suburbs we cover across the North Shore, and the one with the highest concentration of small apartments.
Looking at a
one bedder or studio?
Send us the address before you offer and we will email you a free RP Data property report, and tell you which lenders accept that floor area.
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.
Is the apartment
company title?
A good number of lenders will not fund it, and those that do lend less. Confirm it from the contract before you offer.
Client stories
How we helped
Three real situations, and what actually happened in each one.
The company had to agree.
The apartment they wanted was company title rather than strata, which they only discovered from the contract. Their own bank declined it outright. We went through which lenders on the panel write company title, what share of the value each would advance, and what documents the company itself had to provide. One lender was comfortable, and the purchase went ahead on a title most banks will not touch at all.
Two numbers, moving apart.
They owned a local apartment and were weighing whether to keep it while buying again. Rents in the area had risen sharply while values had barely moved, so the rent contributed more to servicing than it had when they bought. That changed the answer. We tested it across the panel, since lenders differ on how much rent they count, and the structure that worked kept both properties on separate securities.
One bedroom, one problem.
A compact one bedder, well under what most lenders accept as a minimum internal floor area, and their bank declined without explaining why. It was not their income. Lenders measure living space rather than the whole title, so the balcony and car space did not help. We found lenders whose minimum sat lower, compared what each would advance, and the purchase settled with a slightly larger deposit.
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 Kirribilli 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 Kirribilli 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, and the city is a ten minute walk across the Bridge. 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
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
Kirribilli questions, answered
Why use a mortgage broker in Kirribilli?
Because two things here can end a purchase before your income is even assessed. Company title, which appears throughout the older blocks and which many lenders will not fund. And minimum apartment size, since so much of the stock is one bedroom or studio. Your bank has one policy on each and you find out after you apply. Brokers also have a legal duty called the Best Interests Duty, which means we have to put you first.
What is company title and why does it matter so much here?
With company title you own shares in a company that owns the building rather than owning the apartment itself, and the company can vet who buys in. It predates strata and survives in the interwar blocks that make up a great deal of Kirribilli. A good number of lenders will not fund it at all, and those that do lend a smaller share of the value and want to read the company constitution before committing.
How do I find out whether an apartment is company title?
The contract for sale tells you, and it is worth asking the agent directly before you go any further. Company title properties are usually priced below comparable strata apartments, which is often the first clue that something is different. Your conveyancer will confirm it and review the company's rules, since those can restrict letting the apartment out or making alterations. Establish it before you get attached to the price rather than after.
Is there a minimum apartment size lenders will accept?
Most set one, and Kirribilli has more stock sitting close to that line than almost anywhere. It is usually measured on internal living area rather than the whole title, so a balcony and a car space do not count towards it. When a unit falls under, some lenders decline outright and others lend a much smaller share of the price, meaning a bigger deposit. Every lender draws the line differently, which is why the floor plan matters.
Can I still buy a studio apartment?
Yes, though the field narrows considerably and the deposit is usually larger. Where a studio falls under a lender's minimum internal area, the lenders that will consider it often cap the advance well below the usual share of value. Combined with company title, which is common in the same older blocks, two restrictions can stack. It is workable with the right lender, and it is not something to discover after you have exchanged.
Rents here have risen much faster than prices. Does that help me?
If you are buying to invest or keeping a property while buying again, yes. Lenders count a portion of expected rent as income, so when rents rise sharply while values sit still, the same property contributes more to servicing than it did a year or two ago. Vacancy under one per cent supports that. It is worth having the rental position reassessed rather than relying on figures from when you first bought.
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. Given how tight vacancy is here, the rental appraisal tends to be reliable, but the assessment still shades it down considerably.
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. Interwar blocks reach a point where waterproofing, wiring, roofing and window seals all fall due within a few years. On the harbour side, salt exposure brings concrete and balcony work forward. Order it early rather than treating it as a formality after exchange.
Do levies affect what I can borrow?
Yes. A lender counts strata levies as an ongoing property cost alongside rates and insurance, so they come off your monthly capacity. In an older block with lifts, harbour frontage and ageing common property, quarterly levies can be a serious figure relative to a one bedroom apartment's price. Two apartments at the same price with different levies produce different borrowing outcomes, which is worth knowing before you choose.
Is a flat in a small block riskier for a lender?
Not riskier, but the arithmetic differs and buyers rarely think it through. Many Kirribilli blocks hold only a handful of lots, so the cost of a new roof or waterproofing divides among that many owners rather than eighty, and each share is far larger. Lenders read the capital works fund with that in mind. A small, well run scheme is perfectly good security. A thin fund with major work approaching is where caution appears.
Do harbour views change the valuation?
A genuine outlook is priced above an equivalent apartment without one, and a valuer records it. Two things matter. A filtered or partial view carries far less weight than an uninterrupted one, and a view that is not protected can change if something is approved in front of it. The valuer takes the view as it stands on the day, so if the premium you are paying is mostly for the outlook, understand what could be built.
What happens if the valuation comes in under the price?
The lender lends against the valuation rather than the price, so you cover the gap in cash at settlement. A lender will not order that valuation until there is an exchanged contract, so the buffer has to exist before you sign. Published medians for Kirribilli units vary widely between sources, which tells you how much the individual building matters. A different lender uses a different panel and can return another number.
How much deposit do I need in Kirribilli?
A 20% deposit avoids lenders mortgage insurance, and on a local apartment that is a substantial but reachable figure for many buyers. Plenty get in with 5 or 10% and pay the insurance instead, and some professions skip it entirely. What changes the answer most here is the property itself, because company title or a floor area under a lender's minimum can mean you need considerably more than you planned.
Can I buy my first home in Kirribilli with a 5% deposit?
Sometimes, at the smaller end, and the price has to sit 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. Company title is generally not something scheme lenders will write, so the title decides it as much as the price.
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. Worth knowing here is that a guarantee does not rescue a title or a floor area a lender will not accept, so the apartment still has to pass on its own.
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 single person and couple households, that distinction often comes up between partners buying their first place together.
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 Kirribilli 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. Keeping a levy buffer in an offset means that money works until the quarter falls due.
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 many Kirribilli apartments are eventually let rather than sold, 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. In an older block, a special levy can land with little warning and a fixed loan gives you nothing to draw on. Breaking a fixed loan early can be expensive, so the term you choose matters more than the opening rate.
Can I split the loan between fixed and variable?
Yes, though on a modest apartment loan the fee per split is worth checking first. 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, which in an older Kirribilli block should include something set aside for levies and eventual major works.
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, particularly with rents having moved as they have. The catch is that lenders assess an interest only loan on the repayment it reverts to, not what you pay now, so it cuts into your next application. Worth working through with your accountant.
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 three years left stays a twenty three year loan. Nobody offers this, so it has to be asked for. On a smaller apartment loan the monthly difference looks minor, which is exactly why people accept it.
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. On company title or a compact apartment, the field of lenders willing to refinance is narrower than for a standard strata unit, so check what is actually available before assuming a switch is straightforward.
I live in Kirribilli 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. With rents where they are, plenty of local owners keep the apartment and let it rather than selling when they move on.
Should I use my bank or a mortgage broker?
A bank can only offer its own loans and its own rules. In a suburb where company title and small floor areas are both common, a single policy can end the purchase before your income is even looked at, and you usually find out after you have applied and paid for a valuation. A broker knows which lenders write these titles and sizes and checks first. Buyvest compares 35+ lenders at $0 cost to you.
Your Kirribilli mortgage broker
Your home loan.
Made simple.
Free check. No pressure. 35+ lenders compared at $0 cost to you.
Kirribilli sits at the northern end of the Bridge, so everything around it is a short walk. Milsons Point is next door, with Lavender Bay and McMahons Point around the bay and North Sydney up the hill. East along Military Road are Neutral Bay, Cremorne and Mosman. North the line runs through Wollstonecraft, Crows Nest and St Leonards, with Cammeray and Northbridge beyond. We cover all of them, so if your search shifts a suburb or two, you are not starting from scratch.