North Rocks mortgage broker
North Rocks mortgage broker
A mortgage broker
who knows North Rocks.
Established homes on generous blocks, many of them original and needing work, where what a lender thinks of the condition matters as much as what you think of the potential. We compare 35+ lenders and it costs you nothing.
35+
Lenders
10+
Years experience
1,000+
Clients helped
$0
Cost to you
About North Rocks
What the 2151 market actually looks like
History of North Rocks
Named for the rocky ridge above the Parramatta plain, orchard country before the postwar subdivisions laid out the wide streets and large blocks that still define it. Most of the housing dates from that period, which is why so many homes are now original and reaching the point where something has to be done.
North Rocks property market
Detached family homes on established blocks, with a small band of townhouses. Households are settled, the median age is higher than the newer Hills suburbs, and homes are held for a long time. What comes to market is often an original house on a good block rather than a recently renovated one.
North Rocks property prices
Well into the millions for houses, with the range driven by land size, aspect and how much work the house needs. A renovated home and an original one on the same street can be a long way apart. Rents are low relative to what the properties cost, which is usual in an established owner occupier suburb.
Borrowing in North Rocks
Condition is the recurring question. A lender is not buying your renovation plans, it is assessing whether the property is habitable security today. Where a house needs real work, that affects how much is advanced, whether funds are held back, and whether you need a construction loan rather than a simple purchase.
North Rocks is one of the suburbs we cover across the Hills District, and the one where the most homes are original and awaiting work.
Buying something
that needs work?
A lender assesses the house as it is, not as you plan it. There are ways to fund the work, and they need setting up 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.
Renovate or move?
Run both numbers.
Between duty on a purchase and the cost of a build, the answer is rarely obvious. We will price both before you decide.
Client stories
How we helped
Three real situations, and what actually happened in each one.
The house had to be habitable.
They found an original home they intended to gut, and the lender valuation flagged the condition. A lender is assessing whether the property works as security today, not what it will be once you finish. That changed how much was advanced. We restructured it so the purchase and the work were funded together rather than trying to solve the renovation after settlement.
The renovation came with it.
They wanted a better rate and money for renovations and assumed those were two separate exercises. They are not. We moved the loan and released the renovation funds in the same refinance, so there was one application, one valuation and one settlement. The repayment came down by around $490 a month even with the extra borrowing on top.
The limit came back down.
We built a buffer above the fixed price contract for the things that come up mid build, because on an older house something usually does. This time it did not, and the work finished on the original contract. Rather than leave the extra limit sitting there we reduced the lending at the end, so they only ever paid interest on what had been drawn.
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 North Rocks 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 North Rocks 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 at local prices that is a large sum. 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
North Rocks questions, answered
Why use a mortgage broker in North Rocks?
Because lenders form different views of the same borrower and the same house, and a single bank shows you one of them. We compare 35+ lenders at no cost to you, prepare the application so it holds together, and stay across it through to settlement. Brokers also work under a legal obligation called the Best Interests Duty, which puts your interests ahead of ours.
What deposit will I need here?
Twenty per cent avoids lenders mortgage insurance and at local house prices that is a substantial figure, though townhouses sit lower. Plenty of buyers proceed with five or ten per cent and pay the insurance instead. Certain occupations can have it waived, and a family guarantee can reduce the requirement. If you already own, equity generally replaces cash.
Can I avoid lenders mortgage insurance?
There are four common routes. A twenty per cent deposit removes it outright. Some professions qualify for a waiver with selected lenders. A family guarantee substitutes their equity for the deposit you do not yet have. And the Australian Government 5% Deposit Scheme removes it for eligible first home buyers under the price cap. Which is open to you depends on your circumstances.
Does the 5% Deposit Scheme work here?
At the townhouse end it can, provided the price sits under the scheme cap, while houses here generally sit above it. 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%. It is a guarantee rather than a grant, and not every lender writes them.
How does a guarantor loan work?
A parent or close relative offers part of the equity in their property as extra security behind your loan. They take on none of your repayments and no money moves. Most guarantees are limited, covering a defined portion rather than the whole property. Once your loan has come down far enough the guarantee can be lifted, though somebody has to ask for it.
How long does pre-approval last?
Usually around ninety days, renewable with fresh payslips and statements. It tells you what a lender will consider based on your position, so you can look at properties with a genuine number. It is not approval on a particular house, and where an older home is involved the property itself becomes part of the assessment once there is a contract.
What is an offset account?
An everyday account attached to your loan, where the balance is deducted before interest is calculated. Money sitting there reduces the interest you pay while remaining fully available. It suits anyone who carries a working balance through the month. Loans offering an offset sometimes come with a slightly higher rate or annual fee, so the balance you keep decides the maths.
How is redraw different from offset?
Redraw is money already paid into the loan above the required repayments, which the lender lets you take back on terms it can change. Offset money never enters the loan at all and simply reduces the interest charged. Offset gives you firmer control over access. Redraw generally comes with plainer loans at a lower rate.
Should I fix the rate?
Fixing sets your repayment for an agreed period, which helps with planning, and you do not benefit if rates fall during it. Variable follows the market and normally keeps an offset and unlimited extra repayments. Fixed loans commonly cap extra repayments and can carry break costs on early exit. If a renovation is coming, that cap is worth thinking about first.
Can I split the loan?
Yes, and most lenders allow it without extra cost. A split divides your borrowing into portions carrying different rates or terms, so you might fix one part and leave another variable with an offset. It is particularly useful where part of the borrowing is for a renovation you intend to pay down quickly. Lenders seldom suggest it, so ask.
Interest only or principal and interest?
Principal and interest reduces the balance and costs less over the life of the loan. Interest only holds the repayment down 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 than on a home, where the tax side belongs with your accountant.
Can I make extra repayments?
On a variable loan, usually without limit, and it compounds because every extra dollar cuts the interest charged from that day. Fixed loans normally cap what you can pay ahead each year and charge once you exceed it. If you plan to pay the loan down faster, check that limit before fixing rather than discovering it later.
Can I fund a renovation rather than move?
Often, and it is worth pricing both before deciding. Moving carries transfer duty and selling costs. Renovating carries build costs and the disruption of living through it. Cosmetic work can usually be funded by increasing the existing loan, while anything structural generally needs a construction loan with funds released in stages as the work progresses.
Can I sort the rate and the renovation at once?
Yes, and it is usually the sensible order. A refinance can move the loan to better pricing and release renovation funds in the same application, so there is one valuation and one settlement rather than two of each. Where the work is structural the lender will want a construction loan instead, which changes the mechanics but not the principle.
When is refinancing worth considering?
Whenever a couple of years have passed without a comparison, because lenders reserve their sharper pricing for new customers and the gap widens quietly. It is also worth looking when a fixed term ends, or once a renovation has lifted the value enough to bring your loan under eighty per cent, since that can improve the pricing available.
What does refinancing cost?
Generally a few hundred dollars to about a thousand. Your current lender charges a discharge fee, there are government fees to move the mortgage, and the new lender may charge settlement or valuation fees, though many waive them. Break costs on a fixed rate get checked first. Refinancing partway through a build is generally not possible.
Does the loan term reset?
It does unless you ask otherwise, since refinances default to a fresh thirty year term. That makes the monthly repayment look smaller while quietly adding years of interest, and after a decade of payments you have just given that decade back. Ask for the remaining term. No lender raises it unprompted.
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 an established suburb where homes have been held for decades, that figure is frequently larger than owners expect, because values have moved while the loan came down. Servicing usually sets the practical limit.
Can I buy the next place before selling?
Yes. Bridging finance funds the new purchase while the current home is on the market, and the sale clears it at settlement. Or, where the equity and income allow, you release equity from the existing property to fund the purchase and sell afterwards with no deadline pressing on the price you accept.
Should I keep the current home and rent it out?
Worth pricing against selling rather than deciding on instinct. The questions are whether your income supports both loans once part of the rent counts, and whether equity can be released without a sale. An older house rents perfectly well, though it attracts a lower rent and more maintenance calls. The tax side belongs with your accountant.
Can equity fund an investment purchase?
Yes. Rather than saving a second deposit, you release equity from your home to cover the deposit and costs on the investment, so nothing comes out of savings. Two loans result, one secured by each property. Whether it proceeds depends on your income carrying both once part of the rent is counted, and your accountant should review the structure.
The house needs work. Does that affect the loan?
It can, and general answers are not much help. Whether a lender is comfortable with a property in original condition, how much they will advance against it and whether any funds are held back all differ between lenders and change over time. Send us the address and what you are planning, and we will check it across the panel before you commit.
Do we have to meet in person?
No. Everything runs by phone, Zoom or Teams, with documents shared and signed electronically. On a renovation the process runs across months with occasional bursts of paperwork rather than one sitting, which suits working remotely. If you would rather meet face to face we come to you, including evenings and weekends.
Bank or broker?
A bank can only offer its own loans, its own valuation panel and its own view of a property. If their valuer takes a conservative view of a house needing work, that is their answer and you find out after paying for the valuation. Another lender may see it differently. We compare 35+ of them first, at $0 cost to you.
Your North Rocks mortgage broker
Your home loan.
Made simple.
Free check. No pressure. 35+ lenders compared at $0 cost to you.
North Rocks sits between the Hills and Parramatta. Carlingford and Baulkham Hills are next door, with Winston Hills west and Pennant Hills north east. Castle Hill and Norwest run up the corridor, with Kellyville and Bella Vista beyond and Glenhaven and Dural in the acreage. Parramatta and Epping sit south and east. We cover all of them, so if your search shifts a suburb or two, you are not starting from scratch.