Norwest mortgage broker
Norwest mortgage broker
A mortgage broker
who knows Norwest.
A business park with apartments built around it, where lender exposure limits inside a single building decide more purchases than anyone expects. We compare 35+ lenders and it costs you nothing.
35+
Lenders
10+
Years experience
1,000+
Clients helped
$0
Cost to you
About Norwest
What the 2153 market actually looks like
History of Norwest
Created rather than grown. The business park was planned from the 1990s on land that had been farms, and the residential towers followed once the Metro arrived and employment concentrated here. It is one of very few Sydney districts where the offices came before the housing rather than the other way round.
Norwest property market
Apartments dominate, in towers built over a relatively short period around the Metro station and the lake, alongside townhouses and a smaller number of houses. Residents skew towards professionals and downsizers rather than large families, and a considerable share of the stock is owned by investors rather than occupiers.
Norwest property prices
Apartments sit well below the house prices of the surrounding Hills suburbs, which is what draws first home buyers and downsizers here. Prices vary more by building than by street, since towers differ in age, amenity and levies. Rents are stronger relative to price than in the detached suburbs nearby.
Borrowing in Norwest
The building matters more than the suburb. Lenders cap how much they will hold in any one development, apply reduced advances where they classify a pocket as high density, and take a view on apartment size and mixed use towers. Two identical borrowers can get different answers on two apartments in the same street.
Norwest is one of the suburbs we cover across the Hills District, and the one where the building matters more than the street.
Buying in a tower
everyone else used?
Lenders cap how much they will hold in one building. It is worth checking the address before you commit, not after.
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.
Downsizing into
an apartment?
Sell first or buy first changes the finance completely. We work through both before you commit to either.
Client stories
How we helped
Three real situations, and what actually happened in each one.
Their bank was full.
They had approval and found the apartment they wanted, and their lender came back with a decline that had nothing to do with them. It had reached its limit on that building, because so many buyers there had used the same bank. Nothing about their income or deposit had changed. We placed the loan with a lender that had no exposure in the development and it settled on time.
The size was the issue.
The apartment was smaller than the minimum internal area several lenders will accept, which cut the field before anything else was considered. Those that would look at it advanced a smaller share of the value, meaning a larger deposit. We established that at the start rather than after a valuation, so they went in knowing the real number and chose accordingly.
They settled before selling.
They found the apartment they wanted before the family home had sold. Rather than list under a deadline, we released the equity in the existing home so it funded the purchase, and they settled on the new one first. The house went on the market afterwards and sold on their own timetable, with the proceeds going back against the loan once it settled. No bridging was needed at all.
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 Norwest 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 Norwest 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
Norwest questions, answered
Why use a mortgage broker in Norwest?
Because with apartments the building matters as much as the borrower, and lenders take quite different positions on both. We compare 35+ lenders at no cost to you, prepare the application properly and manage it through to settlement. Brokers also have a legal duty called the Best Interests Duty, which requires us to put your interests ahead of ours.
What deposit do I need for an apartment here?
Twenty per cent avoids lenders mortgage insurance, and on a Norwest apartment that is within reach for many buyers. Plenty proceed with five or ten per cent and pay the insurance instead. Some occupations qualify for a waiver and a family guarantee can reduce the requirement further. If you already own, equity generally does the job instead of cash.
What is lenders mortgage insurance?
A one off premium charged when your borrowing exceeds eighty per cent of the property value, protecting the lender rather than you. It can usually be added to the loan instead of paid separately. A larger deposit removes it, as can a professional waiver with certain lenders, a family guarantee, or the Australian Government 5% Deposit Scheme if you are eligible.
Is Norwest good for the 5% Deposit Scheme?
It is one of the better parts of the Hills for it, because apartment prices here often sit under the scheme cap where nearby houses do not. 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%. Eligibility conditions apply and not every lender writes them.
How does a guarantor loan work?
A family member offers part of the equity in their property as extra security behind your loan. No money changes hands and they carry none of your repayments. Most are limited guarantees covering a defined portion rather than their whole home. Once your loan has reduced enough the guarantee can be released, though it stays until someone asks.
How long does pre-approval hold?
Around ninety days generally, renewable with updated payslips and statements. It gives you a real figure to work with rather than a guess. It does not extend to a particular apartment, and with strata property the building itself forms part of the assessment once there is a contract, so it is worth raising an address with us early.
Do strata levies affect what I can borrow?
Yes. Levies count as an ongoing commitment in the assessment, so a building with extensive amenity and higher levies reduces your borrowing capacity compared with a plainer building at the same price. Across a year the difference between a modest levy and a large one is meaningful, so it is worth weighing alongside the purchase price rather than after.
What should I look at in the strata report?
The capital works fund against the age of the building, the forward maintenance plan, any special levies raised or foreshadowed, and whether there is any litigation on foot. It is worth ordering the report early rather than late. Your solicitor will go through it with you and can flag anything that needs raising before you are committed.
What is an offset account?
A transaction account linked to your loan where the balance is netted against the loan before interest is calculated. Money held there lowers the interest you pay while remaining fully accessible. It suits anyone carrying a working balance. Loans offering an offset can come with a slightly higher rate or annual fee, so it depends on the balance you keep.
Offset or redraw?
Offset keeps your money in your own account, reducing the interest charged without the funds entering the loan. Redraw is money already paid in as extra repayments, which the lender allows you to withdraw on terms it can vary. Offset gives more control. Redraw usually accompanies simpler loans at a lower rate and suits people who will not need the money back.
Fixed or variable?
Fixing gives a known repayment for an agreed period and means you do not gain if rates fall. Variable moves with the market and typically retains an offset and unlimited extra repayments. Fixed loans usually cap extra repayments and can involve break costs on early exit. Which suits you depends on your plans rather than on a general rule.
Can I split the loan?
Yes, and most lenders permit it at no extra cost. A split divides your borrowing into portions on different rates or terms, so you might fix part for certainty while leaving the rest variable with an offset attached. It also lets you hold one portion on a shorter term. It is rarely offered first, so it is worth requesting.
Interest only or principal and interest?
Principal and interest reduces the balance and costs less across the loan. Interest only keeps the repayment lower for a period without touching what you owe, so the debt remains when the period ends and the repayment then rises. It is used far more on investment lending, and on an investment the tax consequences are for your accountant to explain.
Are the numbers better here for an investor?
Rents sit stronger against price here than in the detached suburbs nearby, which is part of the appeal. Against that, strata levies are an ongoing cost a house does not carry, and lenders count only part of the rent. It is worth building the numbers on the net position rather than on a headline yield figure.
How much rent will a lender count?
A portion rather than all of it. Expected rent is discounted for vacancy, management and costs, with the amount varying between lenders, and the loan is assessed at a rate above the one you pay. Strata levies are then counted as an expense on top, so an apartment carries a cost in the assessment that a house does not.
Can I use equity to buy an investment?
Yes. Rather than saving a second deposit, you release equity from your existing property to cover the deposit and costs on the investment, so no cash deposit is needed. Two loans result, one against each property. Many owners of Hills houses buy their investment here precisely because the rent goes further against the price.
Why keep the loans separate?
Because tying both properties to one lender for the same borrowing costs you flexibility later. Every future request is weighed against the whole arrangement, and selling or moving either property means unpicking the other. Keeping each property securing its own loan avoids that, and keeps the investment borrowing clearly identifiable for your accountant.
When is refinancing worth a look?
Whenever a couple of years have passed without comparing, because lenders keep their sharper pricing for new customers and the difference builds quietly. On an apartment there is a second reason, since once a building is more established and your loan has come down, both the pricing and the range of interested lenders can improve.
What does refinancing cost?
Typically 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 incoming lender may charge settlement or valuation fees, though plenty waive them. Break costs on a fixed rate get checked before anything else, since they can outweigh the saving.
Does the loan term reset?
It does unless somebody asks otherwise, because the default is a fresh thirty year term. That makes the monthly repayment look smaller while adding years of interest and handing back progress already made. Ask for the remaining term instead. No lender raises this for you, so it needs requesting every time you move.
Can I buy before I sell?
Yes, and downsizers here do it constantly. Bridging finance funds the new purchase while the current home is on the market, with a period set by the lender for the sale. Where the house is worth several times the apartment, releasing equity to fund the purchase outright is often cleaner, because nothing is pressing on the sale price.
Does it matter which building I buy in?
It can, and this is not something to answer in general terms. How much a lender will advance, whether they are comfortable with a particular development and how they treat apartment size or mixed use all differ between lenders and change over time. Send us the address before you commit and we will check it across the panel for you.
Do we have to meet in person?
No. Everything runs by phone, Zoom or Teams, and most of our clients never sit across a desk from us. Documents are shared and signed electronically. If you would rather meet in person we come to you, including evenings and weekends, which suits people working long hours in the business park.
Bank or broker?
A bank can only offer its own loans under its own rules, and with strata property those rules cover the building as well as you. If something about the development does not suit them the answer is no, and you find out after applying and paying for a valuation. We check 35+ lenders first, at $0 cost to you.
Your Norwest mortgage broker
Your home loan.
Made simple.
Free check. No pressure. 35+ lenders compared at $0 cost to you.
Norwest sits at the centre of the Hills corridor, surrounded by the suburbs that feed it. Bella Vista and Kellyville are next door, with Castle Hill and Baulkham Hills south east and North Kellyville, Beaumont Hills and Rouse Hill north. Winston Hills and North Rocks continue towards Parramatta, with Glenhaven, Annangrove and Kenthurst in the acreage beyond. We cover all of them, so if your search shifts a suburb or two, you are not starting from scratch.