Mascot mortgage broker
Mascot mortgage broker
A mortgage broker
who knows Mascot.
Almost everything here is an apartment, and after what this postcode has been through, lenders read the building before they read you. We compare 35+ lenders and it costs you nothing.
35+
Lenders
10+
Years experience
1,000+
Clients helped
$0
Cost to you
About Mascot
What the 2020 market actually looks like
History of Mascot
Market gardens, then an aerodrome, then decades as an industrial and freight suburb wrapped around the airport. The residential Mascot most people know is barely twenty years old, built on rezoned industrial land around the station and along Bourke Road. A pocket of older houses survives in the traditional streets, and it is a small pocket.
Mascot property market
Apartments, overwhelmingly, in medium and high rise blocks built from the early 2000s onward. Townhouses through some of the newer precincts and a modest number of older houses behind them. A large share of the stock is investor owned, drawn by strong rental demand from airport workers, CBD commuters and students, so this behaves like an investment market as much as an owner occupier one.
Mascot property prices
Apartments sit at some of the most reachable prices this close to the city, which is much of the appeal. Houses are scarce and priced accordingly. Be careful with published medians here, because several comparison sites quote state averages rather than local figures, and one of them currently shows a Mascot house median identical to the one it shows for suburbs across Sydney.
Borrowing in Mascot
The building decides it, more here than almost anywhere in Sydney. High density caps, lender exposure limits inside one development, minimum floor sizes, and above all the state of the strata. Defect history in this postcode has made some lenders cautious about buildings well beyond the ones actually affected. Send us the address before you offer and we will tell you which lenders suit it.
Mascot is one of 20 suburbs we cover across the Inner West, and the one where the strata report matters more than the payslip.
Found an apartment
you like the look of?
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.
Buying to rent
it out?
Lenders count only part of the expected rent, and on a high density building some count less again. Worth knowing before you offer.
Client stories
How we helped
Three real situations, all of them decided by the building rather than the borrower.
The number came back short.
They wanted equity out for a renovation and the valuation came back about $90,000 under what they expected. In a tower that happens more than people think, because a valuer leans on recent sales inside the same building and a couple of soft ones drag the lot. We took it to a lender whose panel priced it properly. That released enough for the work with a buffer left over, and no mortgage insurance to pay.
The lender changed its mind.
They had exchanged and the application was still sitting with the lender when a policy changed and the building no longer fitted it. Nothing about them had changed. That window between exchanging and holding formal approval is the risky part, because once loan documents are issued a policy change does not reach back. We found a lender whose policy did fit and had funds ready in time. Settlement went ahead on the day it was meant to.
The deposit came from equity.
They wanted an investment property and assumed they would need to save a second deposit for it. We reviewed the loan on their home first, moved it to a sharper rate, and released the equity at the same time. That equity covered both the deposit and the stamp duty, so the savings account stayed where it was. Because investment lending structure affects tax, they worked that side through with their accountant.
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 Mascot 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 Mascot 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 plenty of Mascot buyers work in aviation, health and professional services. 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
Mascot questions, answered
Why use a mortgage broker in Mascot?
Because in this postcode the building decides the loan more often than your income does. High density caps, lender exposure limits inside one development, minimum floor sizes, and the state of the strata. Defect history here has made some lenders cautious well beyond the buildings actually involved. Your bank has one view of your block 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.
Has building defect history made Mascot harder to finance?
In places, yes, and it is the question nobody else here answers. High profile defect cases in this part of Sydney made several lenders more cautious about newer high rise generally, not only the buildings involved. That caution shows up as a smaller share of value, a larger deposit, or a decline. It is not universal and it is not permanent. It does mean the specific building matters more here than the suburb, and that checking the address early is worth real money.
What does the strata report tell a lender?
More than most buyers expect. Lenders look at the balance of the capital works fund, any special levy struck or being discussed, whether there is defect litigation on foot, and how many lots are owner occupied. A thin fund on a newer building raises questions, because the cost of future work has not been provided for. A live dispute can make a lender cautious about the whole block rather than your apartment. Order it early rather than treating it as a formality after exchange.
Should I get a building inspection on an apartment?
On a newer high rise it is worth considering, and most buyers never do. A strata report tells you what the owners corporation has recorded. If something has been noticed but not yet discussed at a meeting, it will not appear, so the report can be accurate and incomplete at the same time. An inspection looks at the building itself, including common areas and the basement. Against a purchase in the hundreds of thousands, it is a small amount of money.
Is Mascot a high density postcode for lenders?
Several lenders treat it that way, and it is the most useful thing to know before you make an offer. Where a lender classifies a postcode or a building as high density, it will lend a smaller share of the value, which means a larger deposit than you planned for. Some also cap how many apartments in one development they will hold, so the obvious lender can already be full. The classification is not uniform, which is exactly why the panel matters.
Is there a minimum apartment size lenders will accept?
Most set one, and 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. Studios and compact one bedders around the station can fall under. When that happens some lenders decline and others lend a much smaller share of the price, so you need a bigger deposit. Every lender draws the line differently, which is why it pays to check the floor plan before you offer.
What about serviced or short stay apartments near the airport?
These are much harder to finance and plenty of buyers do not realise it until they apply. Where an apartment sits under a management agreement or is part of a serviced arrangement, many lenders will not touch it and those that do often lend well under the usual share of value. The price can look attractive for exactly that reason. Confirm what the strata scheme allows and whether any management agreement sits over the lot before you get attached to the number.
What should I know about buying off the plan here?
The bank values the apartment when it is finished, not when you sign. If it values lower than the price you agreed, you cover the gap in cash at settlement. Approval given years earlier can also run out, and lender policy on the building can change while it is being built, which is exactly what happens in a market with this much new stock. The cooling off period on an off the plan contract in NSW is ten business days rather than five.
Does aircraft noise affect the loan?
Rarely the approval, sometimes the valuation. Mascot sits beside the airport and a valuer records aircraft noise the way they record a main road. The market has priced it in for decades, so it is generally reflected in what you are paying rather than deducted again. Insurance and building standards are separate matters. Where it can show up is a lender comparing your contract against sales in quieter pockets nearby, which is another reason to hold a buffer.
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. On a high density building some become more conservative again. Mascot yields are strong by Sydney standards, so the rent does real work here, but not as much as the rental appraisal suggests.
Can I buy my first home in Mascot with a 5% deposit?
If you are an eligible first home buyer, often yes, and Mascot is one of the better places this close to the city for it, because apartment prices sit at a level the scheme comfortably reaches. 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%. The building still has to suit whichever lender writes it, which is the part that decides it here.
How much deposit do I need in Mascot?
A 20% deposit avoids lenders mortgage insurance, and on a Mascot apartment that is a reachable number for a lot of buyers. Plenty 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. What changes the answer most here is the building, because a high density cap or a defect concern can mean you need considerably more than you planned.
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. One thing to know in Mascot is that the property still has to suit the lender, so a guarantee does not rescue a building the lender will not fund.
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. Co-borrowing lifts what you can afford because both incomes count, and it is a far larger commitment than a limited guarantee. Where two friends or siblings buy a Mascot apartment together, that choice also decides whether either of them can borrow again on their own. Settle it before you apply.
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 Mascot apartment the loan is smaller than in most of the Inner West, so the package fee that often comes with an offset is a bigger share of the benefit. Check it against the balance you actually hold, because on a modest loan a basic product with no fee can win.
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. With so many Mascot owners eventually renting the apartment out, offset is usually the cleaner structure and 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 on within a few years, and Mascot has a higher turnover than most suburbs. The term you pick matters more than the rate on day one.
Can I split the loan between fixed and variable?
Yes, though on a smaller Mascot loan it is worth checking the fee 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. Some lenders charge for each split, which matters more when the loan is modest than when it is large, so the arithmetic is worth doing before you set it up.
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 Mascot is full of them. The catch 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.
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 six years left stays a twenty six year loan. The saving is smaller that way and it is a real saving rather than a longer road. Worth asking 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. On a Mascot apartment the new lender is more likely to want a full valuation rather than a desktop one, because of the building rather than you, so allow a little more time in the timetable.
I live in Mascot 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 Mascot owners keep the apartment as an investment and buy a house further out, 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 built almost entirely of apartments, where some lenders carry caution about newer high rise, the odds that one lender is comfortable with your particular building are not good. 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 Mascot mortgage broker
Your home loan.
Made simple.
Free check. No pressure. 35+ lenders compared at $0 cost to you.
Mascot sits between the airport and the inner south, so it draws from both sides. Newtown and Kensington are the closest centres, with Marrickville and Stanmore west along the line. Petersham, Dulwich Hill and Summer Hill carry on from there. North towards the water sit Glebe, Annandale, Leichhardt, Lilyfield and Haberfield. We cover all of them, so if your search shifts a suburb or two, you are not starting from scratch.