Surry Hills mortgage broker
Surry Hills mortgage broker
A mortgage broker
who knows Surry Hills.
A suburb built on hospitality and creative work, where a great many buyers earn well without a payslip that looks like anyone else. We compare 35+ lenders and it costs you nothing.
35+
Lenders
10+
Years experience
1,000+
Clients helped
$0
Cost to you
About Surry Hills
What the 2010 market actually looks like
History of Surry Hills
The rag trade suburb, packed with clothing factories and workers housing through most of the twentieth century, and one of the poorest parts of the city for a good stretch of it. The factories emptied from the seventies, the warehouses became apartments and studios, and Crown Street turned into a restaurant strip.
Surry Hills property market
Around two thirds apartments and a quarter terraces, with almost everything else being something unusual. The apartments run from studios in older walk ups through art deco blocks and warehouse conversions to new developments. Terraces line most of the streets. The median age is in the mid thirties and the great majority of residents are single.
Surry Hills property prices
The widest range you will find in a small area, from studios at one end to trophy terraces at the other. A suburb median genuinely tells you nothing here, since it averages a walk up studio and a converted warehouse residence into one meaningless number. Price the band you are actually shopping in.
Borrowing in Surry Hills
Income structure is the recurring theme. Hospitality, creative, freelance and contract work are all common here, and lenders differ enormously in what they will count from casual hours, multiple employers or invoiced work. The building type is the second thread, since an older walk up and a warehouse conversion sit in quite different places with lenders.
Surry Hills is one of the suburbs we cover across Sydney, and the one where the fewest buyers have a standard payslip.
Casual hours or
freelance work?
Lenders read irregular income very differently. Getting it presented properly is usually what decides the number.
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.
Older walk up or
converted warehouse?
The building narrows the field before your income is considered. Send us the address before you make an offer.
Client stories
How we helped
Three real situations, and what actually happened in each one.
Two years of payslips helped.
They worked casual hospitality hours across two venues and had been told by their own bank that casual work meant waiting. It did not. What lenders look for is a consistent history, and they had two years of it. We gathered the payslips, the payment summaries and a letter confirming ongoing engagement, and took it to a lender whose policy recognises that pattern properly.
Nothing owing, still counted.
Their capacity came back well short and neither of them could see why, because nothing was owing on either card. A lender assesses a credit card on its limit rather than its balance, on the basis the whole amount could be drawn tomorrow. The limits had been raised years earlier and left alone. Reducing and closing them lifted the number without changing how they lived.
The block itself was the issue.
The apartment suited them perfectly and the building did not suit their bank. Older walk up blocks and converted buildings sit differently with different lenders, and some advance a smaller share of the value or decline outright. Nothing about their income was in question. We found a lender comfortable with that building and the purchase went through on the original terms.
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 Surry Hills 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 Surry Hills 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, which is worth checking before you set a deposit target. The lists and the limits differ from one lender to the next.
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
Surry Hills questions, answered
Why use a mortgage broker in Surry Hills?
Because two things decide most applications here and lenders disagree on both. How your income is counted if it is casual, freelance or contract, and how a lender views an older walk up, a warehouse conversion or a heritage terrace. One bank shows you one answer on each. We compare 35+ lenders at no cost to you, under a legal obligation called the Best Interests Duty.
Can I get a home loan on casual income?
Yes, and consistency is what matters rather than the label. Lenders generally want to see you have been doing the work for a period, often a year or more in the same field, and they look at the pattern across that time rather than a single strong month. Some are considerably more comfortable with casual employment than others.
What if I work for more than one employer?
It is common here and it is manageable. Each source is assessed on its own, so the paperwork is heavier rather than the outcome being worse. What helps is a clear picture across all of it, with payslips and payment summaries covering each engagement, presented together rather than a lender piecing it together from statements.
I invoice through an ABN. How is that assessed?
As self employed income rather than wages, even where you effectively work for one business. That usually means tax returns rather than payslips, and often two years of them, though some lenders work with one year and a few will consider business bank statements. Which lender you approach matters far more here than the rate on offer.
My income varies a lot year to year. Does that hurt me?
It depends on how a lender handles the variation. Some average across two years, some take the lower of the two, and some apply a discount. On an income that moves around, the lender that averages over a longer period can produce a materially better result than one working from the most recent figure alone.
What documents will I need with irregular income?
Identification, then payslips and payment summaries for employed work, or tax returns and financials where you invoice. Add bank statements covering your everyday and savings accounts and any loans or cards. Where there are several income sources, we work out what each lender needs before anything is lodged rather than collecting it twice.
Do credit card limits really matter if I owe nothing?
They do, and it catches almost everybody. A lender works from the limit rather than the balance, on the basis the full amount could be drawn tomorrow. A card sitting at zero still reduces your capacity. On an irregular income, where every element of the assessment counts for more, trimming unused limits is one of the quickest improvements available.
What else reduces my borrowing capacity?
Existing loan repayments, personal and car finance, buy now pay later arrangements, study debts and dependants. Lenders also test whether you could repay at a rate well above the one you will actually be charged. Going through the whole picture before applying usually does more than chasing a marginally better rate.
Are older walk up apartments harder to finance?
They can be. Buildings without a lift, with small internal areas or with limited funds behind the scheme attract different views from different lenders, and some advance a smaller share of the value. It is not a reason to avoid them, and it is a reason to check the specific building before you make an offer rather than after.
What about warehouse conversions?
Some lenders are entirely comfortable with them and others are not, which is the whole answer. Converted buildings sit outside the standard mould, and where a building mixes residential with commercial floors that adds another question. Send us the address and we will tell you who will look at it before you commit.
Does the size of an apartment affect the loan?
It does. Lenders set expectations around internal living area, measured excluding balconies and parking, and below a certain point the field narrows sharply. Those still willing often advance a smaller share of the value, meaning a larger deposit. At the studio end of this suburb that is worth establishing early.
How much deposit will I need?
Twenty per cent avoids lenders mortgage insurance, and how large that is depends entirely on which band you are buying in. Many proceed with five or ten per cent and pay the insurance instead. Some occupations qualify for a waiver, and where the building is older or the apartment compact, expect the requirement to be higher.
What is lenders mortgage insurance?
A premium charged once, the moment your loan tips past eighty per cent of the property value. It covers the lender if things go wrong and does nothing for you directly, which the name rather obscures. Most people capitalise it onto the loan. Larger deposits remove it, as can an occupational waiver, a family guarantee, or the Australian Government 5% Deposit Scheme.
Can I use the 5% Deposit Scheme here?
At the studio and smaller apartment end it can work where the price sits under the scheme cap, while terraces sit well 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%. The apartment still has to be one a scheme lender will accept.
How does a guarantor loan work?
Someone in your family, most often a parent, offers up a portion of the equity in their own home as extra security so you can borrow with a smaller deposit. Nothing leaves their account and the repayments are yours alone. The pledge is normally limited to a set figure rather than the whole property, and it can be unwound once your loan has reduced enough.
Should I trust the suburb median here?
Not for much. Surry Hills contains studios in older walk ups and trophy terraces in the same postcode, so an average across them describes almost nobody. Look at recent comparable sales in the specific band and building type you are shopping in, which is a far more useful number than anything published at suburb level.
How long does pre-approval last?
Around ninety days as a rule, renewable with updated payslips and statements. It tells you what a lender will consider based on your position so you can look with a real figure. It is not approval on a particular property, and here the building is exactly where the second set of questions arises.
Do strata levies affect what I can borrow?
Yes, because levies count as an ongoing commitment in the assessment. In an older block the levies may look modest while the forward maintenance is significant, and in a converted building the fabric can be expensive to keep up. Either way they reduce borrowing capacity for as long as you own the apartment.
What should I look for 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 litigation on foot. In a converted warehouse the structure and the services are where the money goes. Your solicitor reads it with you before you commit.
What happens if the valuation comes in under the price?
The lender advances against its valuation rather than the price you agreed, so any gap is covered in cash at settlement. With building stock as varied as this, different lender panels can reach quite different figures on the same property, which is worth knowing while there is still time to act.
What is an offset account?
A transaction account linked to your loan, where the balance is deducted before interest is calculated. Money held there reduces the interest you pay while remaining fully accessible. It suits anyone whose income arrives unevenly, since money set aside in quiet months still works against the loan while staying available.
Offset or redraw?
Offset money stays in your own account and never becomes part of the loan. Redraw money has already been paid in as extra repayments and comes back out under terms the lender can change. Offset gives cleaner access, which matters most when income is irregular. Redraw generally sits on a simpler loan at a lower rate.
Should I fix the rate?
Fixing sets your repayment for an agreed period, which suits people who want a predictable figure while income varies. You forgo the benefit if rates fall. Variable follows the market and normally keeps an offset and unlimited extra repayments. Fixed loans commonly cap extra repayments, which matters if you pay ahead in good months.
Can I split the loan?
Yes, and most lenders allow it at no extra cost. A split divides the borrowing into portions on different rates or terms, so you might fix one part for certainty and leave another variable with an offset attached. For someone with irregular income that combination is genuinely useful and rarely offered unprompted.
When is refinancing worth looking at?
Whenever a couple of years have gone by without comparing, because lenders reserve sharper pricing for new customers and the gap widens quietly. It is also worth a look when your work arrangements have changed, since a lender that reads casual or contract income more generously can produce a different result on the same file.
Should I keep the apartment and rent it out when I move on?
Worth pricing rather than assuming. The questions are whether your income supports both loans once part of the rent counts, and whether equity can be released without a sale. Rental demand here is consistently strong. Keeping a former home changes its tax position, so speak with your accountant before anything is settled.
The building is older or converted. Does that matter?
It can, and a general answer is no use. How a lender treats a walk up without a lift, a warehouse conversion, an apartment above commercial space or a very compact studio all differ between lenders and change over time. Send us the address before you make an offer and we will check it across the panel.
Do we have to meet in person?
No, and for people working hospitality hours that is usually the point. Everything runs by phone, Zoom or Teams, with documents shared and signed electronically, so nothing has to happen during a shift. If you would rather meet face to face we come to you, including evenings and weekends.
Should I use my bank or a mortgage broker?
A bank offers its own loans under its own rules, including how it treats casual hours, several employers or invoiced work. If theirs is the strict version you get a smaller number or a no, and nobody there is required to mention that another lender reads the same income differently. We compare 35+ lenders first, at $0 cost to you.
Your Surry Hills mortgage broker
Your home loan.
Made simple.
Free check. No pressure. 35+ lenders compared at $0 cost to you.
Surry Hills sits between the city and the inner south. Darlinghurst is north east and Redfern south west, with Moore Park east and Waterloo south. Chippendale and Darlington lie west, and the city runs north through World Square, Chinatown, Haymarket and Town Hall, with Ultimo and Sydney beyond. We cover all of them, so if your search shifts a suburb or two, you are not starting from scratch.