Town Hall mortgage broker
Town Hall mortgage broker
A mortgage broker
who knows Town Hall.
The most affordable end of the city centre, where apartments are smaller, older and often the only part of the CBD a first home buyer can genuinely reach. We compare 35+ lenders and it costs you nothing.
35+
Lenders
10+
Years experience
1,000+
Clients helped
$0
Cost to you
About Town Hall
What the Town Hall market actually looks like
History of Town Hall
The sandstone Town Hall was built between 1869 and 1889 on the site of the old Sydney burial ground, with St Andrew Cathedral beside it and the Queen Victoria Building opposite from 1898. The railway station underneath opened in 1932 as part of the City Circle and remains one of the busiest in the state.
Town Hall property market
Apartments almost entirely, and a different kind from the harbour end of the city. Older blocks and converted office buildings along Bathurst, Liverpool, Kent and Sussex Streets sit alongside towers from the nineties and two thousands. Many are compact, a large share are rented, and the area draws students, hospitality workers and young professionals.
Town Hall property prices
The lower end of the Sydney city market, which is why this is where first home buyers looking at the CBD tend to end up. Studios and one bedroom apartments sit well below the harbourside precincts. Strata levies vary a great deal between older and newer buildings, so the cost of holding a property differs even where the price does not.
Borrowing in Town Hall
Two things shape it. Apartment size, because compact apartments are treated differently by different lenders, and the age and type of building, since converted and older stock is assessed differently from a modern tower. Both are worth checking against a particular address rather than assuming the suburb figure applies.
Town Hall is one of the areas we cover across the Sydney CBD, and the one where first home buyers most often find a way in.
Buying your first
place in the city?
The deposit is only part of it. We will map the whole figure and tell you what you can actually borrow.
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.
Apartment on the
compact side?
Floor area affects which lenders will look at it. Send us the address and we will check the panel before you offer.
Client stories
How we helped
Three real situations, and what actually happened in each one.
They thought it was a grant.
They had heard about the government deposit scheme and had budgeted as though money would arrive to help with the purchase. It does not work that way. It is a guarantee that removes the mortgage insurance, and you still borrow the rest and repay every dollar of it. Once we explained what it actually did, and checked the price cap against what they were looking at, they could plan against a real figure.
From first call to settlement.
A first home buyer with no idea where to begin and a fear of wasting weekends at inspections. We went through the whole process, prepared the application properly and had pre-approval through quickly, then sent property reports so they could look with a real number. From that first conversation to the keys took about six weeks, which is only possible when the finance is settled before the searching starts.
One repayment, a short term.
A car loan at a rate well above a mortgage was being paid separately and eating into what they could borrow. We folded it into the home loan on a refinance and the monthly outgoing dropped by around $590. What we did not do was spread it across thirty years, because that costs more in the end. It went onto a short split with its own term so it still clears in a few years.
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 Town Hall 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 Town Hall plan
First home
Learn more
Next home
Learn more
Investment property
Learn more
Refinancing
Learn more
Construction loans
Learn more
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 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 can save a first home buyer a considerable 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
Town Hall questions, answered
Why use a mortgage broker at Town Hall?
Because this is where most first purchases in the city happen, and the apartments here raise questions the harbour end does not. Size, building age and building type all affect which lenders will lend and how much. One bank tells you its own position only. We compare 35+ lenders at no cost to you, and brokers work under a legal obligation called the Best Interests Duty.
How much deposit do I need to buy here?
Twenty per cent avoids lenders mortgage insurance, and at this end of the city that is a more achievable figure than almost anywhere else in the CBD. Many buyers proceed with five or ten per cent and pay the insurance instead. Some occupations can have it waived, and a family guarantee can reduce what you need again.
What costs sit on top of the deposit?
More than people plan for, and a lender will not fund most of it. Transfer duty is usually the largest, then transfer and mortgage registration fees, conveyancing, a strata report, insurance before settlement, and adjustments for levies and rates the seller has already paid. Working out the whole figure before you start looking avoids an unpleasant surprise in the final fortnight.
What is lenders mortgage insurance?
A one off premium that applies when your borrowing goes past eighty per cent of the property value, and despite the name it protects the lender rather than you. It can usually be added to the loan instead of paid up front. A larger deposit removes it, as can a professional waiver, a family guarantee, or the Australian Government 5% Deposit Scheme if you qualify.
Does the 5% Deposit Scheme work in this part of the city?
This is one of the few parts of the CBD where it genuinely can, because prices here more often sit under 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%. Eligibility conditions apply and not every lender writes them.
Is the scheme money I receive?
No, and this is the most common misunderstanding we deal with. It is a guarantee given to the lender, not a payment to you. You still borrow the full amount above your deposit and you repay all of it. What it removes is the mortgage insurance premium you would otherwise pay for borrowing with a small deposit, which is a real saving but a different thing from a grant.
How does a guarantor loan work?
A family member offers part of the equity in their property as extra security behind your loan. They make none of your repayments and no money changes hands between you. Most are limited guarantees covering a defined portion rather than their whole home. Once your loan has come down far enough the guarantee can be released, though somebody has to ask for it.
Can I buy with a friend or a sibling?
People do, particularly at this price point. A co-borrower is on the title and the debt, so their income counts towards the assessment and the whole loan shows against them for anything they want to borrow later. How the title is held matters too, and your solicitor will explain the options. Each of you is liable for the full loan rather than half of it.
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 position, so you can look with a genuine figure. It is not approval on a particular apartment, because the building itself forms part of the assessment once there is a contract.
What reduces how much I can borrow?
Credit card limits count whether or not you owe anything, because a lender assumes the full limit could be drawn. Car loans, personal loans, buy now pay later arrangements, study debts and dependants all reduce the figure as well. Lenders also test you at a rate above the one you will pay. Clearing small facilities before applying often helps more than chasing a sharper rate.
Do strata levies affect the assessment?
Yes, because levies are counted as an ongoing commitment. Two apartments at the same price can produce different outcomes if one building carries much higher levies. In older buildings the levies may look modest while the forward maintenance is significant, so the strata report is worth reading properly with your solicitor before you are committed.
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 staying fully available to you. It suits anyone who keeps a working balance. Loans with an offset can carry a slightly higher rate or annual fee, so on a smaller loan it is worth checking whether it earns its keep.
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 the lender lets you take it back under terms it can change. Offset gives you cleaner access. Redraw usually sits on a simpler loan at a lower rate, which can suit a first purchase where every dollar of rate matters.
Should I fix my rate?
Fixing sets your repayment for an agreed period, which helps if a stable repayment matters more to you than flexibility. You give up the benefit if rates fall. Variable moves with the market and normally keeps an offset and unlimited extra repayments. Fixed loans commonly cap extra repayments and can carry break costs if you exit early.
Can I fix part of the loan?
Yes, through a split, and most lenders allow it without extra cost. Fixing one portion gives certainty over part of the repayment while the variable portion keeps an offset and free extra repayments. It also lets you hold one portion on a shorter term, which is useful where a car loan or similar has been rolled in. Lenders rarely suggest it.
Interest only or principal and interest?
Principal and interest reduces what you owe and costs less across the loan, which is what most first home buyers want. Interest only keeps repayments lower for a period without touching the balance, so the debt is unchanged when the period ends and the repayment then rises. It is used far more on investment lending, where the tax side belongs with your accountant.
Can I make extra repayments?
On a variable loan, usually without limit, and it makes a real difference because every extra dollar reduces the interest charged from that day forward. Fixed loans typically cap what you can pay ahead each year and charge beyond it. If you expect to pay more than the minimum, check that cap before fixing rather than afterwards.
What happens if the valuation is under the price?
The lender lends against its valuation rather than the price you agreed, so any gap is covered in cash at settlement. It happens more often with apartments than houses, because a valuer has plenty of similar sales to compare against. A different lender uses a different panel and can return a different figure, which is worth knowing while there is still time.
Should I roll a car loan into the mortgage?
It can help the monthly position considerably, because car finance usually carries a much higher rate. The catch is the term, since a debt meant to run a few years can end up spread across thirty and cost far more overall. Putting it on a shorter split with its own term keeps the saving without stretching the debt out.
When is refinancing worth looking at?
Whenever a couple of years have gone by without comparing, because lenders reserve their sharper pricing for new customers and the gap widens quietly. It is also worth a look when a fixed term ends, or once your loan has come down under eighty per cent of the value, since that can remove ongoing insurance costs and improve the pricing available.
What does refinancing cost?
Generally 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 many waive them. Break costs on a fixed rate are checked before anything else so the comparison is honest.
Does the loan term reset when I refinance?
It does unless you ask 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 the progress you have made. Ask for the remaining term instead. No lender raises this for you, so it needs requesting on every refinance.
Can I buy my next place before selling this one?
Yes, though for most people moving on from a first apartment the simpler route is selling and buying with the proceeds. Where you want to hold both for a period, bridging finance covers the new purchase while the old one is listed and the sale pays it out. If you have built up enough equity, drawing on it to fund the purchase removes the deadline altogether. Which works depends on your income covering both loans in the meantime.
Should I keep the apartment and rent it out when I move on?
It is a common plan and 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. This is a strong rental area, though levies are an ongoing cost. Keeping a former home also changes its tax position, so speak with your accountant.
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 a first apartment bought recently the figure may be modest, and it grows as the balance comes down. What your income supports usually sets the practical limit rather than the equity alone.
Can equity fund an investment purchase later?
Yes. Rather than saving a second deposit, you release equity from the property you 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 preserves your flexibility, and your accountant should look at the structure before it is set up.
How much of the rent will a lender count?
A portion rather than all of it. Expected rent is discounted for vacancy, management and running costs, with the amount varying between lenders, and the loan is assessed at a rate above the one you actually pay. Strata levies are then counted as an expense on top, which is the part that makes an apartment assess differently from a house.
Does the building or apartment size matter?
It can, and this is not something a general answer covers well. How a lender treats a compact apartment, an older or converted building, or a development with commercial space in it 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 face to face we come to you, including evenings and weekends, which suits people working retail or hospitality hours.
Should I use my bank or a mortgage broker?
A bank offers its own loans under its own rules, and with an apartment those rules cover the building as well as you. If the size or the building type does not suit them the answer is no, and you usually find that out after applying and paying for a valuation. We compare 35+ lenders first, at $0 cost to you.
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Town Hall sits at the centre of the city with everything a short walk away. Sydney surrounds it, Chinatown and Haymarket are immediately south, and Martin Place north east. Circular Quay and Barangaroo sit on the harbour, with Newtown and Marrickville south west and Balmain across Darling Harbour. Over the bridge are Milsons Point, Kirribilli and North Sydney. We cover all of them, so if your search shifts a suburb or two, you are not starting from scratch.