Marrickville mortgage broker
Marrickville mortgage broker
A mortgage broker
who knows Marrickville.
Warehouse conversions, workers cottages, and a flight path across the top of it. Lenders read all three differently. We compare 35+ lenders and it costs you nothing.
35+
Lenders
10+
Years experience
1,000+
Clients helped
$0
Cost to you
About Marrickville
What the 2204 market actually looks like
History of Marrickville
A factory suburb that kept its factories longer than most. Clothing, food and light manufacturing filled the streets between the railway and the Cooks River, and the workers cottages went up around them. Waves of Greek, Lebanese, Vietnamese and Portuguese families arrived through the last century. The industry has largely gone and the buildings have not, which is why so much housing here used to be something else.
Marrickville property market
Three kinds of property in the same streets. Victorian and Federation cottages, semis and terraces through the older pockets. Converted warehouses and former industrial buildings turned into apartments. And newer blocks around the station and Marrickville Metro. Buyers are mostly first home buyers priced out of Newtown, and families upgrading within the Inner West rather than leaving it.
Marrickville property prices
Houses sit well into the millions and apartments a long way below them, which is why the first step here is usually a unit or a small semi. The postcode also takes in Marrickville South and part of Sydenham. Published medians move between sources, and one figure on this page previously understated the house median considerably. Treat any single number as a guide rather than a price.
Borrowing in Marrickville
Three things come up here that rarely come up elsewhere. Aircraft noise, because much of the suburb sits under the flight path and a valuer records it. Converted warehouses, where the title and the internal size decide which lenders will lend. And low lying land near the Cooks River, where flood mapping affects insurance more than approval.
Marrickville is one of 20 suburbs we cover across the Inner West, and the one where what the building used to be matters as much as what it is now.
Buying a converted
warehouse or studio?
Send us the address before you make an offer and we will email you a free RP Data property report. We can also talk through how lenders on our panel tend to look at buildings like it.
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 what
you can borrow, once?
That is one lender's answer, not the answer. Two lenders can read the same payslip and land a long way apart.
Client stories
How we helped
Three real situations, and what actually happened in each one.
A small deposit, a good rate.
A first home buyer qualified for the government 5% deposit scheme, which meant no lenders mortgage insurance. What they had not realised is that the scheme does not decide your rate. Plenty of people assume a small deposit means taking whatever pricing is offered. We compared what was available across the panel and placed them with a lender giving both the scheme and a sharp rate. Same deposit, better loan.
The second lender said yes.
He wanted to stay put and buy again. His own bank would lend him $500,000 and the purchase needed around $650,000. Same person, same income, same debts. We moved the existing loan to a lender with a sharper rate and released the equity, then placed the purchase with a second lender who read his income more generously. At these price points the spread between lenders is the whole deal.
They came on as borrowers.
Parents wanted to help their daughter buy and did not want to hand over all the cash or go guarantor. After they had spoken with their accountant, we set them up as co-borrowers instead. Their equity supported the purchase, and their own money went into an offset account against the new loan, cutting the interest while staying theirs. Being on a loan is a real commitment, so it is a decision to make with proper guidance.
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 Marrickville 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 Marrickville plan
First home
Learn more
Next home
Learn more
Refinancing
Learn more
Construction loans
Learn more
Guarantor loans
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 RPA and the university are a few minutes up the road. 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 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
Marrickville questions, answered
Why use a mortgage broker in Marrickville?
Because the housing here is anything but standard. A converted factory, a workers cottage on a small block, and a new apartment by the station are three different lending questions, and the flight path sits over a good deal of it. Your bank has one policy for all of that and you find out what it is after you apply. Brokers also have a legal duty called the Best Interests Duty, which means we have to put you first.
Does the flight path affect my loan?
Rarely the approval, sometimes the valuation. Much of Marrickville sits under the Sydney Airport approach, and a valuer records aircraft noise the way they record a main road or a rail line. The market has priced it in for decades, so it is usually reflected in the purchase price already rather than deducted a second time. Where it can matter is a lender comparing your contract against sales in quieter streets nearby, so the buffer is worth having.
What about buying a converted warehouse?
Marrickville has more of this stock than almost anywhere, and two things decide the lending. Whether the title is strata or company title, because a good number of lenders will not fund company title at all and those that do lend a smaller share of the value. And the internal floor area, since open plan conversions and studios can fall under a lender's minimum, which is measured on living space rather than the whole title. Both are quick to confirm before you offer.
Is a former industrial site a problem?
Usually not, though it is worth knowing what you are buying into. Where land has been rezoned from industrial use, a council or the developer will generally have dealt with any remediation before residential approval was granted. A valuer notes the history rather than penalising it. What your conveyancer should check is the section 10.7 planning certificate, which records zoning and any notations on the land. That is a legal question rather than a lending one.
What about properties near the Cooks River?
Some low lying parts of the suburb carry flood mapping, and it is worth knowing before you commit rather than after. It rarely stops a loan. Where it bites is insurance, because a lender wants the property insured before settlement and cover on a flood affected site can be expensive or slow to place. Get a quote early rather than in the final week, and have your conveyancer check the planning certificate for any flood notation.
Can I buy my first home in Marrickville with a 5% deposit?
If you are an eligible first home buyer, often yes, and at that deposit it will be an apartment rather than a house. The Australian Government 5% Deposit Scheme lets you buy with a 5% deposit and pay no lenders mortgage insurance, with Housing Australia guaranteeing the gap between your deposit and 20%. It is a guarantee, not a grant, and the government takes no share of your home. The building still has to suit whichever lender writes it.
Does a small deposit mean I get a worse rate?
Not necessarily, though plenty of Marrickville first home buyers assume so and stop asking. The scheme decides whether you pay lenders mortgage insurance. It has nothing to do with your interest rate. The lenders approved to write scheme loans price them very differently from each other, and the gap between the sharpest and the rest is real money over thirty years. Small deposit and a competitive rate is an available combination if someone compares it before you apply.
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 rather than all of it. Once your own borrowing sits comfortably under 80% of what your place is worth, the guarantee can be released. Someone has to ask, because it does not happen 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 sits on their credit file. That matters here, where a parent helping a child into a Marrickville flat may want to buy again themselves later. Co-borrowing lifts what you can afford because both incomes count, and it is a far larger commitment than a limited guarantee. Work out which suits before the application, not after.
How much deposit do I need in Marrickville?
A 20% deposit avoids lenders mortgage insurance. On an apartment here that is a reachable number for a lot of people, and on a house it is considerably more. Plenty of buyers 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. On a converted warehouse the building itself can change the answer, so work the number against the actual address.
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. If you keep a decent balance it usually earns its keep even where the loan carries a package fee. If your account runs close to empty each month, that fee can cost more than the offset saves. Do the arithmetic on the balance you actually hold rather than the one you intend to.
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. A lot of Marrickville owners eventually keep the flat and rent it out, so offset is usually 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. Breaking a fixed loan early can be expensive, which matters if you might move up within the Inner West in the next few years, and plenty of people here do. The term you pick matters more than the rate on day one.
Can I split the loan between fixed and variable?
Yes, and it is a sensible middle ground. 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, so the offset is doing full work rather than partial. It is not a hedge that guarantees you win either way. It just means neither decision has to be all or nothing.
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 it is a genuine question, and Marrickville has a large rental market. What people forget is that lenders assess an interest only loan on what the repayment becomes when it reverts, not what you pay now, so it reduces what you can borrow next time. Worth discussing with your accountant as well as us.
How much can I borrow?
It comes down to your income, your existing debts, how many people you support and the loan itself, and lenders differ enormously on all four. Two lenders can look at the same payslip and land a long way apart, because they treat overtime, bonuses, HECS and credit card limits differently. Online calculators give you one lender's version at best. We check it across the panel and give you a number you can actually plan around.
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. You can ask for the remaining term instead, so a loan with twenty two years left stays a twenty two year loan. The saving is smaller that way and it is a real saving rather than a longer road. Worth asking the question every time, because nobody volunteers 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. If you are on a fixed rate there can be break costs, so they get checked first. On a converted warehouse or unusual title the new lender may want a full valuation rather than a desktop one, which adds a little time.
Should I sell first or buy first?
Sell first and you have certainty about your number but may be renting while you look. Buy first and the finance carries both for a period, usually through bridging, where the lender funds the new purchase before the old one sells. Keeping the first place and renting it out is the third route, and with rental demand as strong as it is here that is more workable than people assume. Which fits comes down to your equity and whether your income supports both loans for a while.
I live in Marrickville 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. Plenty of Marrickville owners use their equity to buy an investment further out where the yield is stronger, and that lending is straightforward once the structure is right.
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. In a suburb where a lot of the housing was something else first, the odds that one lender is comfortable with your particular building are not great, and you usually find out after you have applied and paid for a valuation. A broker checks it against many lenders first. Buyvest compares 35+ lenders at $0 cost to you.
Your Marrickville mortgage broker
Your home loan.
Made simple.
Free check. No pressure. 35+ lenders compared at $0 cost to you.
Marrickville sits in the middle of the Inner West, so its neighbours are minutes away. Dulwich Hill, Petersham and Stanmore sit either side along the line, with Newtown east where the prices climb. Summer Hill, Ashfield and Haberfield run west, and Leichhardt, Annandale, Lilyfield and Glebe head north towards the water. Mascot is the other side of the airport. We cover all of them, so if your search shifts a suburb or two, you are not starting from scratch.