Circular Quay mortgage broker
Circular Quay mortgage broker
A mortgage broker
who knows Circular Quay.
A handful of residential buildings between the Opera House and the Bridge, tightly held and rarely traded, where the address does as much work as the borrower. We compare 35+ lenders and it costs you nothing.
35+
Lenders
10+
Years experience
1,000+
Clients helped
$0
Cost to you
About Circular Quay
What the Circular Quay market actually looks like
History of Circular Quay
Sydney Cove was where the First Fleet landed and where the Tank Stream drew fresh water. The quay itself was cut and reclaimed by convict labour through the 1830s and 40s, ending up semi circular rather than the circle the name suggests. The railway arrived in the 1950s and the Cahill Expressway with it, the Opera House opened in 1973, and Quay Quarter reshaped the eastern side more recently.
Circular Quay property market
Overwhelmingly commercial, with residential confined to a small number of buildings. Bennelong Apartments beside the Opera House, the Quay towers, Opera Residences and the low rise homes around Loftus Lane, with One Circular Quay under construction on the old Gold Fields House site. Very few properties change hands in a year, and most that do are bought to live in rather than to let.
Circular Quay property prices
At the top of the Australian apartment market, with an enormous range within a few hundred metres. Aspect does much of the work, since a north facing outlook over the Opera House and a rear facing apartment in the same building are very different propositions. Levies reflect the level of building services, so the holding cost matters alongside the price.
Borrowing in Circular Quay
Loan sizes here are large and the pool of buildings is small, which is a combination worth understanding before you commit. The specific building and the specific apartment carry more weight in a lender assessment than they would in a suburb of thousands of similar homes, so the address is the first thing to check rather than the last.
Circular Quay is one of the areas we cover across the Sydney CBD, and the one with the fewest residential buildings.
Set your heart
on one building?
With so few residential buildings here, the address is worth checking against the panel before you make an offer.
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.
Never checked
what you can borrow?
Plenty of people work from a number they guessed years ago. The check is free and takes one conversation.
Client stories
How we helped
Three real situations, and what actually happened in each one.
One building, one bank, 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 already reached the limit it was prepared to hold in that building, because a number of buyers there had used the same bank. We placed the loan with a lender that had no exposure in the building and it settled on time.
They could borrow far more.
They had saved a substantial deposit and had decided, without ever putting it to a lender, that a certain figure was their ceiling. It was a guess and it was well short. Once we ran their position properly across the panel the number came back a long way above what they had assumed. They had spent months looking in a bracket they did not need to be limited to.
Three loans, three properties.
One lender held all of their properties as security for the same borrowing, so every request went through a review of the whole bundle and every answer came back cautious. We refinanced and gave each property its own loan. That restored the ability to sell or refinance any one of them without disturbing the others, and the pricing improved at the same time.
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 Circular Quay 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 Circular Quay 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 Circular Quay 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
Circular Quay questions, answered
Why use a mortgage broker at Circular Quay?
Because there are only a handful of residential buildings here, and lenders form views about specific buildings as well as about you. One bank tells you its own position and nothing about the other thirty four. We compare 35+ lenders at no cost to you and manage the application through to settlement. Brokers also work under a legal obligation called the Best Interests Duty.
How much deposit will I need?
Twenty per cent avoids lenders mortgage insurance, and at these prices that is a very significant sum. Buying with less is possible where the insurance is paid instead, and certain occupations can have it waived, which at this end of the market is a saving worth confirming early. If you already own property, equity generally replaces cash entirely.
Can lenders mortgage insurance be avoided?
Several ways, depending on your position. A twenty per cent deposit removes it. Some professions qualify for a waiver with selected lenders. A family guarantee puts part of a relative property behind the loan instead of the deposit you do not have. The Australian Government 5% Deposit Scheme also removes it for eligible first home buyers, though the price cap makes that unlikely here.
Would the 5% Deposit Scheme apply here?
Realistically no, because prices in this precinct sit well above the scheme property cap. The Australian Government 5% Deposit 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 genuinely useful in parts of the inner city where apartments are cheaper, and we can point you to where it works.
How does a professional waiver work?
Some lenders will lend a larger share of a property value without charging mortgage insurance where the borrower works in particular occupations, on the basis of the income profile those roles tend to carry. Which occupations qualify, and how much they will advance, differs from lender to lender and changes over time. It is worth having checked rather than assumed, because the saving at these loan sizes is considerable.
Does a large loan get assessed differently?
The assessment follows the same logic as any other loan, and there is generally more scrutiny of income sources and more documentation to gather. Where income includes bonuses, share based payments or company distributions, lenders differ considerably in how much of it they will count. Getting that presented properly at the start is usually what decides the outcome.
How long does pre-approval last?
Around ninety days as a rule, and it can be renewed with updated payslips and statements. It tells you what a lender will consider based on your circumstances, so you can look with a real figure. It is not approval on a particular apartment, and here the building forms a meaningful part of the assessment once there is a contract in front of a lender.
Do strata levies affect what I can borrow?
Yes, because levies count as an ongoing commitment in the assessment. In buildings with concierge, plant, lifts and extensive services those levies are substantial, and they reduce borrowing capacity relative to a plainer building at the same price. It is worth weighing alongside the purchase price rather than treating it as a detail that surfaces after settlement.
What should I look at in the strata report?
The capital works fund set against the age and complexity of the building, the forward maintenance plan, any special levies raised or foreshadowed, and whether there is litigation on foot. In an older harbourside building the plant and the facade are the expensive items. Your solicitor will go through the report and flag anything that needs raising before you commit.
What is an offset account?
A transaction account attached to the loan, where the balance is netted against the loan before interest is calculated. Money held there lowers the interest charged while staying fully available. On a large balance the effect is considerable. Loans offering an offset can carry a slightly higher rate or an annual fee, so it depends on what you typically hold in it.
Offset or redraw?
Offset money remains in your own account and is never paid into the loan. Redraw money has already gone in as extra repayments and comes back out under rules the lender can change. Offset gives you certainty of access, which matters more the larger the sum involved. Redraw generally sits on simpler loans at a lower rate.
Should I fix the rate?
A fixed rate holds your repayment steady for an agreed period, and the trade off is that you do not benefit if rates fall. Variable follows the market and usually keeps an offset and unlimited extra repayments available. Fixed loans commonly restrict extra repayments and can carry break costs if you exit early, which on a large balance can be substantial.
Can I fix part and leave part variable?
Yes, through a split, and most lenders allow it without an extra charge. Fixing a portion gives certainty over part of the repayment while the variable portion retains the offset and free extra repayments. On larger loans it is a genuinely useful arrangement and it is rarely offered unprompted, so it is worth asking for.
Interest only or principal and interest?
Principal and interest reduces the debt and costs less across the loan. Interest only keeps the repayment lower for a period while the balance stays where it is, so nothing is repaid and the repayment increases when the period finishes. It is used far more on investment lending than on a home. There are tax consequences on an investment, which your accountant should explain.
Can I make extra repayments?
On a variable loan, generally without limit, and on a large balance the compounding effect is significant because each extra dollar reduces the interest charged from that day. Fixed loans typically cap what you can pay ahead each year, with a fee beyond it. If you intend to pay down quickly, check that cap before fixing.
What happens if the valuation is below the price?
A lender lends against its valuation rather than the contract price, so any shortfall is covered in cash at settlement. In a market this thinly traded, a valuer has fewer recent comparable sales to work from, and different lenders use different panels. That means two lenders can produce different figures on the same apartment, which is worth knowing while there is still time to act.
Does the aspect or the view affect the valuation?
A valuer prices what the market would pay, and in this precinct outlook is a large part of that. Two apartments of the same size in the same building can sit far apart in value depending on which way they face. What a valuer will not do is guarantee an outlook remains, so where a view depends on a neighbouring site staying as it is, that is a question for your solicitor.
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 grows quietly. On a large balance a modest difference in rate is a meaningful amount of money each year. It is also worth reviewing when a fixed term ends or when you want to release equity.
What does refinancing cost?
Usually a few hundred dollars to around a thousand, made up of a discharge fee from your current lender, government fees to move the mortgage, and sometimes settlement or valuation fees from the new one. Break costs on a fixed rate are checked before anything else, since on a balance of this size they can wipe out the benefit.
Does the loan term reset when I refinance?
It does unless you ask otherwise, since the default is a fresh thirty year term. That lowers the monthly repayment and quietly adds years of interest, handing back the progress you have already made. Ask for the remaining term instead. No lender raises it for you, so it needs requesting on every refinance.
Can I buy before I sell?
Yes. Bridging finance funds the new purchase while the current property is still on the market, and the sale clears it at settlement. Or, where the equity and your income allow, you release equity from the existing property to fund the purchase and sell afterwards without a deadline pressing on the price. With so little turnover here, that flexibility is worth having.
Should I keep the apartment 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. Levies are an ongoing cost that a house does not carry. Keeping a former home also changes its tax treatment, so speak with your accountant first.
How much equity can I use?
Broadly eighty per cent of what the apartment is worth today, less what you still owe, with lenders mortgage insurance generally returning past that. On an apartment in a small, thinly traded building the valuation is worth establishing properly rather than assuming. What your income supports usually sets the practical limit rather than the equity itself.
Can equity fund another purchase?
Yes. Rather than saving a fresh deposit, you release equity from a property you already own to cover the deposit and costs on the next one, so nothing comes out of savings. Two loans result, one secured by each property. Keeping them separate rather than bundled preserves your options, and your accountant should review the structure first.
Why keep the loans separate?
Because when one lender holds several properties for the same borrowing, every later request is assessed against the whole arrangement and selling any one of them becomes a negotiation rather than a decision. Separating them restores control. It also keeps investment borrowing clearly identifiable, which is what your accountant will want to see at tax time.
How much of the rent will a lender count?
Part of it rather than all. Lenders discount expected rent to allow for vacancy, management and running costs, and each applies a different figure, then assess the loan at a rate above the one you will pay. Levies are counted as an expense on top. At these prices the rent covers a small share of the repayment, so your income does most of the work.
Does it matter which building I buy in?
It can, and this is not something a general answer covers well. How much a lender will advance, whether they are comfortable with a particular building, and how much they will hold in any one development 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 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 whose working hours make a daytime appointment difficult.
What does a digital appointment involve?
A conversation about your position and what you want to do, then payslips or financials, statements and identification sent through securely. We compare the panel and come back with the numbers and the options. Where income is complex we work out how each lender treats it before recommending anything. Weekday evenings until nine and weekends.
Should I use my bank or a mortgage broker?
A bank offers its own loans, its own valuation panel and its own rules, and with a small number of buildings here those rules matter as much as your income. If the bank has already lent as much as it wants in your building, the answer is no and you find that out after applying. We check 35+ lenders first, at $0 cost to you.
Your Circular Quay mortgage broker
Your home loan.
Made simple.
Free check. No pressure. 35+ lenders compared at $0 cost to you.
Circular Quay sits at the top of the city where the harbour meets the centre. Sydney surrounds it, Barangaroo lies west along the waterfront and Haymarket and Chinatown are south past Town Hall. Directly across the water sit Kirribilli, Milsons Point, McMahons Point and Lavender Bay, with North Sydney and Neutral Bay behind them. Balmain is west up the harbour and Mosman east. We cover all of them, so if your search shifts a suburb or two, you are not starting from scratch.