Paddington mortgage broker
Paddington mortgage broker
A mortgage broker
who knows Paddington.
Home loans in Paddington for your first home, your next home, an investment or a refinance. We compare 35+ lenders and it costs you nothing.
35+
Lenders
10+
Years experience
1,000+
Clients helped
$0
Cost to you
What we help with
Four reasons people call us in Paddington
Each one runs differently here, because this is a terrace suburb, and lenders look at heritage terraces very differently from a standard house.
First home loans in Paddington
A terrace is out of reach for almost every first home buyer here, so the way in is usually a unit, and Paddington has fewer of them than the beach suburbs. The Australian Government 5% Deposit Scheme comes with a property price cap in NSW, and some smaller Paddington apartments sit under it while terraces do not. Some jobs skip lenders mortgage insurance altogether, which helps given the local price points. A family guarantor loan is the other common route in.
Buying your next home in Paddington
Often the next home here is the terrace itself, bought after starting in a unit nearby. Terraces trade in decent numbers for such a small suburb, around 239 a year, so the step up is real if the borrowing works. Some people keep the unit and rent it out. Others move to Woollahra or Centennial Park for more room. Selling first or buying first changes how the loan is built, and bridging finance covers the gap when the timing does not cooperate.
Investment property loans in Paddington
Paddington rents well to professionals who want to live near the city without a high rise, but yields are modest, houses under 2.5% and units a little higher. Lenders count expected rent towards what you can afford, so on a low yield your own income carries most of the assessment. A renovated terrace and a dated one can value very differently, which feeds straight into the loan. Structure and tax are worth a word with your accountant early.
Refinancing a Paddington home loan
Terrace values here have climbed hard, up around 11% in a year, so the equity in your place is probably well past what you last checked. That figure can fund a renovation, which half of Paddington seems to be doing within heritage rules, a deposit on the next home, or the release of a parent's home still sitting as security. A refinance is also the one moment the rate, the structure and the years left on the loan all get reviewed together.
Whichever one brought you here, the first conversation is the same. We look at where you are now, then show you what each lender on our panel would do with it.
Thinking about
your first home?
There are a few ways into Paddington with less than a 20% deposit, and which ones fit depends on whether you are buying a terrace or a unit. We can walk you through it before you start inspecting.
About Paddington
What the 2021 market actually looks like
History of Paddington
Paddington grew in the Victorian era as workers' terraces marched up the hills around Oxford Street. Saved from demolition by residents in the 1960s, those terraces are now a protected heritage streetscape, and the suburb sits three kilometres from the city beside Centennial Park.
Paddington property market
This is a terrace market first and foremost. Rows of Victorian terraces trade steadily, while the smaller pool of apartments sits well below them on price. Owners here are mostly professionals and creatives who want city fringe living with character rather than a beach or a high rise.
Paddington property prices
Houses, almost all terraces, sit near $3.6 million, up around 11% in a year, with roughly 239 sold. Units sit near $900,000 to $1 million and are a smaller slice of the market. Yields are modest, so this is a capital growth suburb rather than a yield play.
Borrowing in Paddington
Terraces bring their own quirks. Narrow frontages, small footprints and heritage listings all feed into a lender's valuation, and some titles are strata rather than Torrens. On a unit the building decides it. Send us the address before you offer.
Whether it is a terrace or a unit, we know which lenders are comfortable with each, here and across the Eastern Suburbs.
Ready for the
next home?
Selling first or buying first changes almost everything about the loan. We can map out every step of the journey.
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.
Looking at an
investment property?
Rent counts towards what you can borrow, and two lenders can land a long way apart on the same purchase.
Client stories
How we helped in Paddington
Three real situations, each one turning on how the property or the loan was structured.
The terrace valuation that came up short.
They had a contract on a narrow Paddington terrace and their own lender's valuation came back under the price, which happens more with unusual heritage homes that have few close comparables. Rather than accept it and top up the deposit heavily, we ran the same property through another lender whose panel valuer knew the street and its recent sales. The second figure landed much closer to the price, which kept the deposit where they had planned it and the loan on track to settle.
Two loans, split across two lenders.
An owner wanted to keep their Paddington terrace and buy again, and their bank would not lend enough for the second purchase. Same person, same income, same debts. We moved the terrace loan to a lender with a lower rate, released the equity that freed up, and placed the new purchase with a second lender that read their income more generously. Splitting it across two lenders, rather than forcing everything through one, was what made the numbers work.
Equity that was not really locked away.
An owner was told they had no usable equity left, because one highly geared property was dragging on the whole picture while their bank treated the lot as a single pool. We separated the securities and moved one loan to a different lender. The equity that had looked locked became available, and it funded the deposit on their next purchase without selling anything or disturbing the terrace they lived in. The properties had simply been tied together more tightly than they needed to be.
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 Paddington 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 in Paddington for every plan
First home
Learn more
Next home
Learn more
Investment property
Learn more
Refinancing
Learn more
Construction loans
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Bridging loans
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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 Sydney mortgage broker 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 Paddington 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
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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.
★★★★★
"Ali is an excellent broker who truly knows his numbers. He made the entire process of securing two investment loans incredibly smooth and stress-free. What really sets him apart is the valuable advice he provides not just about loans, but also about making safe and smart investments."
★★★★★
"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."
★★★★★
"Ali is our trusted advisor for many years. He responds swiftly and honestly. He is the best in working out options for loans. He goes above and beyond to get the best outcome for the customers."
FAQ
Paddington questions, answered
Buying your first home, buying your next home, buying an investment property, or refinancing the loan you already have. The questions that come up for each one.
How do I get a home loan in Paddington?
Start with pre-approval, not with open homes. We go through your income, debts and deposit, sort out what different lenders will count, and set your number before you fall for a terrace. The Paddington twist is the property itself. Heritage terraces with narrow frontages and small footprints get valued more cautiously by some lenders than others, and the odd one is strata or company title. The lender that suits a terrace often is not the one that suits a unit. We compare 35+ lenders at $0 cost to you.
Why use a mortgage broker in Paddington?
Because a terrace is not a standard house, and lenders react to that differently. One values a narrow heritage terrace cautiously, another is comfortable with it, a third has issues with a particular title type. Get the pairing wrong and the valuation or the policy can sink an otherwise strong application. A single bank gives you one view. A broker checks several before you commit. Brokers also carry a legal duty called the Best Interests Duty, so we have to put you first.
How much deposit do I need for a first home in Paddington?
A 20% deposit avoids lenders mortgage insurance, and on a Paddington terrace that is an enormous number, so first home buyers here almost always start with a unit. On a unit, 20% is still large but reachable. The Australian Government 5% Deposit Scheme comes with a property price cap in NSW, and some smaller Paddington apartments sit under it while terraces do not. A family guarantor loan or a professional insurance waiver can each cut the deposit a different way.
Can I use the Australian Government 5% Deposit Scheme in Paddington?
For a unit, sometimes. The scheme lets eligible first home buyers purchase with a 5% deposit and no lenders mortgage insurance, and it covers units as well as houses. It comes with a property price cap in NSW. Some of the smaller Paddington apartments sit under that cap, but the terraces are well above it, so in practice the scheme applies to the unit end of the market here. The cap is measured against the contract price, so we check the specific property with you.
Do lenders treat heritage terraces differently?
Yes, and it is the single biggest local quirk. Narrow frontages, small internal floor areas and heritage listings can all make a lender more cautious on the valuation, and a low valuation feeds straight into how much you can borrow. Some terraces are on strata or company title rather than Torrens, which a few lenders restrict. None of it stops a loan, but it changes which lender you want, which is exactly what we sort out before you commit to a purchase.
Can I upgrade from a Paddington unit to a Paddington terrace?
This is the classic local path, and it is doable because terraces trade in reasonable numbers for such a small suburb. The gap in price is large, so unit equity alone rarely closes it. Some buyers get there on equity plus income, some keep the unit as an investment and buy the terrace with a fresh loan, and some step across to Woollahra or Surry Hills. Knowing your real borrowing number early lets you move when the right terrace lists, because the good ones go quickly.
Can I buy the next home before the Paddington one sells?
Yes, with bridging finance. It is short term borrowing secured over both properties that funds the new purchase while the old place is still on the market, with interest that usually accrues rather than being paid monthly, clearing when the sale settles. In a tightly held terrace market, buying first can make sense so you do not miss the right one. Selling first gives you a fixed number to work with. We price both orders so the numbers guide the choice, not the pressure.
Does a Paddington investment property stack up on the rent?
On yield alone, not strongly. Terraces return under 2.5% and units a little more, so this is a capital growth suburb rather than a cash flow one. Lenders count expected rent towards what you can borrow, but on a low yield your own income carries most of the assessment. The appeal here is the three kilometre distance to the city and steady professional tenant demand, not the rent figure. We build the loan around your income, since that is what a low yield purchase leans on.
When is it worth refinancing a Paddington home loan?
A few triggers come up. Terrace values have climbed hard, so your equity may already fund the renovation you have been planning within heritage rules, or the deposit on the next place. A fixed period ending is another. So is an interest only term on an investment loan about to switch to principal and interest. And sometimes it is just a rate that has drifted. We compare what you hold against 35+ lenders and show you both answers, including the one where staying put wins.
How much equity can I use?
Usable equity is roughly 80% of what your place is worth today, less what you still owe. Past 80% and lenders mortgage insurance usually returns. In Paddington the valuation is where it gets interesting, because a renovated terrace and an original one on the same street can be valued a long way apart, and lenders' valuers read heritage stock differently. That equity funds renovations, next purchases and investment deposits, so it is worth establishing properly rather than guessing off a portal.
Fixed, variable or split, and do I need an offset?
It depends entirely on you. A fixed rate buys certainty for a set term but locks you in, with break fees if you leave early and limited extra repayments. Variable trades that certainty for freedom to overpay and move. Split it and you hedge both. Offset accounts sit alongside the loan and quietly shave interest off while the cash stays yours, which is gold for Paddington's many self employed owners whose income lands in bursts. We fit the structure to your cash flow, not the other way around.
Do lenders treat Paddington apartments differently?
Some do. The suburb has fewer big blocks than the beach suburbs, but the older converted buildings can raise questions about the building itself, and a handful sit on company title, which many lenders restrict. Small studios can fall under minimum floor size rules. Boutique blocks of only a few units can also draw extra scrutiny from some lenders. The same apartment can be approved by one lender and declined by another, so it is worth checking before you offer.
Can I get a Paddington home loan if I am self employed?
Yes, and Paddington is full of business owners, consultants and creatives doing exactly that. Most lenders want two years of tax returns, some accept one, and a few work from business bank statements. What moves the number is the add backs, because depreciation, one off costs and extra super contributions can often be counted back as income. At Paddington price points that difference matters, and lenders read the same financials differently, so which one sees your file counts.
What happens if the valuation comes in under the price?
You usually find out after you are committed, because a lender will not order a valuation until there is an exchanged contract, and at auction there is no cooling off. Terraces make a shortfall more likely, because their heritage character and narrow blocks give valuers fewer clean comparables. If it lands short, a different lender uses a different valuation panel and can return a different figure on the same home. Failing that, the gap is covered in cash at settlement, so the buffer has to exist before you sign.
Can I renovate a Paddington terrace, and will a lender fund it?
Often yes, but heritage rules shape what you can do, and lenders fund renovations in a couple of ways. A simple cosmetic update can be covered by releasing equity through a refinance. A structural project may need a construction loan that draws down in stages against council approved plans. Heritage overlays can lengthen the approval side, which affects timing more than lending. We match the loan type to the scope of the work and to what the council will allow.
I live in Paddington but I am buying somewhere else. Can you still help?
Of course, and it is common. Plenty of Paddington renters buy their first home further out where a deposit stretches further, and Paddington owners pick up investments right across Sydney. The address on the contract changes which lenders and rules come into play, not how we handle the job. We work by phone, Zoom or Teams, or we come to you, on weeknights and weekends, wherever the purchase lands.
Your Paddington mortgage broker
Your home loan.
Made simple.
Free check. No pressure. 35+ lenders compared at $0 cost to you.
Paddington does not sit on its own. Oxford Street runs from the city edge out to Bondi Junction, with Woollahra and Surry Hills either side and Centennial Park along the southern edge. Buyers who start here often look across to Waverley and the beaches at Bondi, Coogee and Maroubra for more space, or up the hill to Bellevue Hill and out along the harbour through Rose Bay and Vaucluse to Watsons Bay. We cover all of them, so if your search shifts a suburb or two, you are not starting from scratch.