Northbridge mortgage broker
Northbridge mortgage broker
A mortgage broker
who knows Northbridge.
A ridge with water on three sides, blocks that drop away behind the house, and a fair few homes you reach by lift rather than by path. We compare 35+ lenders and it costs you nothing.
35+
Lenders
10+
Years experience
1,000+
Clients helped
$0
Cost to you
About Northbridge
What the 2063 market actually looks like
History of Northbridge
The suburb exists because of its bridge. A private company built the sandstone crossing over Flat Rock Gully in the 1890s to open up the land beyond it, ran a tram over it, and sold the blocks. The peninsula filled in through the interwar years and after, and the golf course, the baths and the bushland reserves date from that same period.
Northbridge property market
Family homes almost entirely, a great many of them substantial, with a small band of apartments near the shops. Water on three sides means a large share of blocks slope hard towards Middle Harbour or Sailors Bay, and a number of properties back onto the golf course. There is no railway station, so buses carry the commute. Homes are held for a long time and turnover is modest.
Northbridge property prices
Houses sit well into the millions and waterfront a long way above that. Apartments sit far lower and there are not many of them. Be careful with published medians, since several comparison sites quote New South Wales state averages here rather than local figures, and one currently shows a Northbridge median identical to suburbs right across Sydney.
Borrowing in Northbridge
Slope does most of the work. How much of the block is usable, the state of the retaining, and how you actually get from the street to the door all reach the valuation. Add loan sizes past where lenders apply their own internal limits and you have two questions at once. Send us the address before you offer and we will tell you which lenders suit it.
Northbridge is one of 32 suburbs we cover across the North Shore, and the one where the fall of the land matters most to a valuer.
Looking at a home
on a steep block?
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 properties 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.
Extending rather
than moving?
A construction loan values the property on what it will be worth finished, which is often where the capacity turns out to be.
Client stories
How we helped
Three real situations, and what actually happened in each one.
Not the house as it stood.
A client wanted $150,000 for an extension and was sure they had no equity to draw on. What they had not been told is that a construction loan is not valued on the house as it stands. It is valued on what the property will be worth once the work is done. That opened up the funds without mortgage insurance, and because construction loans only charge interest on what has been drawn, the cost climbed as the build did.
The buyout was arranged.
A separating couple, and one of them wanted to stay in the home rather than sell it. Their solicitor was drafting a binding financial agreement, and we worked to that draft so everyone was building on the same numbers. We tested whether the repayments held on one income alone, then arranged the loan that bought out the other partner's share. The legal side stayed with the solicitor and the finance side stayed with us.
No insurance was payable.
They came in certain their parents would have to guarantee the loan, because they only had a 10% deposit. We looked at what they did for a living and worked through which lenders treat that job differently. One of them waived the mortgage insurance altogether, so we wrote the loan without a guarantor at all. They bought with their savings intact and nobody put a second property on the line.
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 Northbridge 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 Northbridge 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 Northbridge house prices that is a very 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
Northbridge questions, answered
Why use a mortgage broker in Northbridge?
Because the land does as much to the answer as your income does. Blocks that fall away sharply, retaining walls holding up the garden, access by steps or by lift, and water frontage on the lower streets all reach the valuation. Add loan sizes past where lenders apply their own limits and two things have to go your way at once. Brokers also have a legal duty called the Best Interests Duty, which means we have to put you first.
Does a steep block change the valuation?
Usually, and here it is the first thing a valuer looks at. What matters is how much of the land is genuinely usable, since a block that drops away steeply behind the house has less flat ground than the title area suggests. They also look at the condition of retaining walls and the driveway grade. Two blocks of identical size on the same street can value differently for that reason alone.
What about a house with an inclinator or a lift from the street?
Common on the steeper streets here, and worth understanding before you commit. A valuer records it as an improvement rather than treating the house as though it has ordinary access, so it can support the value rather than reduce it. Two things to check. Whether it is on your title or shared with a neighbour, and its age and service history, since replacing one is a significant cost and it is not the sort of thing a strata fund covers on a freestanding house.
Are retaining walls a problem for a lender?
Not in themselves, and almost every property on the slope has them. Where it becomes a question is condition. A valuer noting a failing wall or evidence of movement can make a lender cautious, because the repair cost is significant and it goes to the stability of the site. That is a building inspection question rather than a lending one, and on a block like this it is worth paying for a proper one before you exchange rather than after.
What does water frontage change?
The valuation more than the loan. A valuer looks at frontage, access to the water, the state of any seawall, and whether a jetty, ramp or boatshed sits on public waterway land under licence rather than on your title. A structure held under licence is not the same as owning it, and that affects value and sometimes saleability. None of it usually stops a lender, but all of it is better understood before you exchange.
Does backing onto the golf course affect anything?
A valuer generally treats an open outlook over the course as a positive, in much the same way as a reserve or a park frontage, because nothing is going to be built on it. The practical questions are insurance and boundary fencing, since properties along a fairway occasionally deal with stray balls, and it is worth asking your insurer how they treat it rather than assuming. It does not narrow the lender field.
Are large loans assessed differently?
Not harder, but they are looked at more closely. Past certain loan sizes some lenders add extra checks, want more documentation, cap how much of the value they will lend, or apply their own internal limits. Others barely change their process. At Northbridge prices most buyers are well inside that territory, so knowing which lenders are comfortable at what size saves weeks and sometimes saves the purchase.
Should renovation money come out of the home loan?
For cosmetic work, usually yes, because home loan rates sit well below personal loan rates and a top up on the existing loan is simple. Once you are changing the structure, most lenders want a construction loan, which releases funds in stages against a fixed price contract and approved plans. On a sloping site the engineering drives the contract price, so get the builder's numbers before the loan amount is set rather than after.
How is a construction loan valued?
On what the property will be worth once the work is finished, not on the house as it stands today. That is the part most people are never told, and it is why an extension can be fundable when a straight top up is not. Funds release in stages as work is completed and you pay interest only on what has been drawn, so the cost rises with the build rather than landing on day one.
How much equity can I use?
Usable equity is roughly 80% of what your place is worth today, less what you still owe. Go past 80% and lenders mortgage insurance usually comes back into it. In Northbridge that figure tends to be large, because homes here are held for a long time and have had years to move while the loan came down. Since it follows the valuation, and slope makes valuations less uniform, it is worth checking properly.
Can I avoid lenders mortgage insurance without a guarantor?
Sometimes, and it is the first thing worth checking before assuming the answer is no. A handful of lenders drop the insurance entirely for certain professions, at a deposit level where everyone else would charge it. The lists differ between lenders and depend on your exact registration rather than your industry generally. At Northbridge loan sizes the saving where it applies is very large, so it is worth confirming before you budget for the cost.
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. Once your own borrowing sits comfortably under 80% of what your place is worth, the guarantee can be released, though someone has to ask rather than waiting to be offered.
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 the buyer can afford because both incomes count. At these loan sizes that is a very large figure for a co-borrower to carry, which matters if they have their own plans.
We are separating. Can one of us keep the house?
Often yes, and it is a refinance into one name rather than a sale. Two things decide it. Whether your income alone services the loan on that property, which lenders assess as a fresh application, and what the property settlement between you says. Lenders usually want to see the agreement or consent orders before they fund the buyout. The legal side belongs with your solicitor, and we work to their draft so both are built on the same numbers.
How much deposit do I need in Northbridge?
A 20% deposit avoids lenders mortgage insurance, and at local house prices that is a very large number. The handful of apartments near the shops are more reachable. If you already own, the equity in that property usually does the job instead of cash. Some professions can skip the insurance entirely, which at these loan sizes is worth checking before you assume you need the full amount.
Can I buy my first home in Northbridge with a 5% deposit?
If you are an eligible first home buyer it is possible, though in Northbridge it means one of the few apartments rather than a house, and the price still has to sit under the scheme's property cap. 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.
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. At Northbridge loan sizes the effect is significant, because the saving scales with the loan, so an offset usually earns its keep even where the loan carries a package fee. If you are staging work on the house, money waiting for the next trade is working against the interest while it sits.
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. If the family home might one day be let while you move on, offset is the cleaner structure. Your accountant can explain why.
Should I fix my rate or stay variable?
If you are building or extending, the question usually waits, because most lenders keep a construction loan variable while funds draw down. On a completed home, fixed gives certainty for one to five years and variable gives flexibility, an offset and unlimited extra repayments. Most fixed loans have no usable offset, which matters more at these balances. Breaking one early is expensive, so the term matters more than the opening rate.
Can I split the loan between fixed and variable?
Yes, and at Northbridge balances it is often the sensible answer. 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, including anything set aside for work on the house. Neither decision then 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 real question that turns on your wider position. The catch is that lenders assess an interest only loan on the repayment it reverts to, not what you pay now, so at these loan sizes it cuts a long way into what you can borrow next. Worth working through with your accountant.
When I refinance, does my loan term reset?
Only if you let it, and at these balances letting it is expensive. Most refinances default to a fresh thirty year term, which makes the monthly repayment look better while quietly adding years of interest on a very large loan. Ask for the remaining term instead, so a loan with seventeen years left stays a seventeen year loan. Nobody offers this, so it has to be asked for every time.
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, and on a Northbridge sized balance those can be substantial, so they get checked before anything else. On a steep or waterfront property, expect a full valuation rather than a desktop one.
I live in Northbridge 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 Northbridge owners use equity in a long held family home to buy an investment somewhere with a stronger yield.
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. Here that matters twice, because one lender's internal limit at your loan size and one panel's read on a steep or waterfront block both have to go your way. 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 Northbridge mortgage broker
Your home loan.
Made simple.
Free check. No pressure. 35+ lenders compared at $0 cost to you.
Northbridge sits on its own peninsula, so the run back off it covers the neighbours. Cammeray is across the bridge and Castlecrag along the ridge, with Willoughby and Artarmon west towards Chatswood. East across Middle Harbour sit Cremorne, Neutral Bay and Mosman. South towards the Bridge are Crows Nest, St Leonards, North Sydney and Wollstonecraft. We cover all of them, so if your search shifts a suburb or two, you are not starting from scratch.