Willoughby mortgage broker
Willoughby mortgage broker
A mortgage broker
who knows Willoughby.
Homes held for a very long time, a lot of them sold in original condition, and land that falls away towards the water. We compare 35+ lenders and it costs you nothing.
35+
Lenders
10+
Years experience
1,000+
Clients helped
$0
Cost to you
About Willoughby
What the 2068 market actually looks like
History of Willoughby
One of the older municipalities on the North Shore, settled along the ridge before the railway reached Chatswood and built out through the Federation and interwar years. Willoughby Road still runs as the local spine. The postcode also covers Castlecrag, Castle Cove and Middle Cove, laid out later on the land falling down towards Middle Harbour.
Willoughby property market
Family homes on established blocks, a good number of them Federation and California bungalows, with apartments and townhouses in a band near Chatswood. Homes are held for a very long time here, which means a real share of what comes to market arrives from a deceased estate or a long term owner moving on, often in original condition rather than renovated.
Willoughby property prices
Houses sit well into the millions and the range is wide, because a semi near the shops and a home with a harbour outlook on the Castlecrag side are both inside this postcode. Apartments sit far lower. Any median quoted at postcode level blends four suburbs, so treat a single figure as a guide rather than a price.
Borrowing in Willoughby
Three things come up. Buying from an estate, where the timetable is not the vendor's to control. The condition of the house, because a valuer prices it as it stands rather than as it could be. And slope, since the land towards Middle Harbour falls away and that affects both the valuation and the cost of any work.
Willoughby is one of 32 suburbs we cover across the North Shore, and the one where the most homes come to market after a very long hold.
Buying from
a deceased estate?
The timetable depends on probate rather than the vendor. Your finance has to be able to wait, and to move when it does.
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.
Buying a house
in original condition?
A valuer prices it as it stands, not as it will be. That changes the deposit you need at purchase.
Client stories
How we helped
Three real situations, and what actually happened in each one.
No money changed hands.
A first home buyer had steady income but a small deposit after years of rent. Their parents wanted to help and did not want to hand over a large sum. We used a limited guarantee against part of the parents' equity, which meant no lenders mortgage insurance and no cash moving anywhere. A few years on, once the loan had come down and the property had moved, the guarantee was released and the parents were off it entirely.
Same finish line, less cost.
We reviewed their loans and refinanced them, and the repayments came down by around $800 a month. The part worth noting is that we kept the loan term exactly where it was. It is easy to make a repayment look smaller by stretching the term back out to thirty years, and that costs more over the life of the loan even though the monthly figure improves. This was the rate doing the work rather than the calendar.
The cash stayed available.
They had a large sum in a savings account and were about to put all of it into the purchase. We went through what that would cost them in flexibility. They put down enough to clear 20% and avoid mortgage insurance, and the rest went into an offset against the loan instead. Every dollar in there reduces the interest charged while staying available, which mattered with renovation work ahead of them.
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 Willoughby 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 Willoughby 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 the St Leonards health precinct is a few minutes away. 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 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."
FAQ
Willoughby questions, answered
Why use a mortgage broker in Willoughby?
Because a lot of what sells here is not a straightforward purchase. Estate sales with timetables nobody controls, houses in original condition that value on what they are rather than what they could be, and blocks that fall away towards the water. Each of those changes what a lender will advance. Brokers also have a legal duty called the Best Interests Duty, which means we have to put you first.
What is different about buying from a deceased estate?
Mostly the timing, and it catches buyers out. The executor cannot complete a sale until probate has been granted, and that can take months rather than weeks, so settlement periods are often longer or left open. Your finance has to be able to wait and then move quickly when the date firms up. Since a pre-approval runs ninety days, one granted early in the process can expire before settlement arrives, which is worth planning for rather than discovering.
Does the property being sold as is affect the loan?
Not usually the approval, but it shapes the valuation. Estate properties are often sold without any presentation work and a valuer prices what is in front of them, not what it could become. If the valuation lands under the price, the lender lends against the valuation and you cover the gap. So on a house in original condition it is worth holding a larger buffer than you would on a renovated one, particularly at auction where there is no cooling off.
Can I borrow more to renovate straight after settlement?
Not usually against the finished value at purchase. At settlement a lender advances against what the property is worth as it stands, so the renovation has to be funded from your own cash, from equity elsewhere, or from a construction loan arranged separately. Where the work is structural, a construction loan values the property on completion, which is where the extra capacity comes from. Setting both up at once avoids two applications and two sets of costs.
Does a sloping block change the valuation?
It can, and the land falling towards Middle Harbour is a real feature of this postcode. A valuer considers how much of the block is usable, the condition of retaining walls, and vehicle access, so two blocks of identical size can value differently. If you plan to build or extend, slope also drives the engineering and therefore the contract price behind a construction loan. Get the builder's numbers before the loan amount is set.
How much deposit do I need in Willoughby?
A 20% deposit avoids lenders mortgage insurance, and at local house prices that is a large number. Apartments near Chatswood are far more reachable. Plenty of buyers get in with 5 or 10% and pay the insurance instead, some professions can skip it, and a family guarantor loan can cut the deposit further again. On a house in original condition, allow more than the headline, since the valuation may not match the price.
How does a guarantor loan work?
A family member, usually a parent, offers part of the equity in their property as extra security for your loan. They do not make your repayments and no cash changes hands, which matters where parents want to help but their money is tied up in the house. Most are set up as a limited guarantee, so only a defined portion is at risk. Once your borrowing sits under 80% of value, it can be released.
What is the difference between a guarantor and a co-borrower?
A guarantor supports the loan with their property but is not on the title or the debt. A co-borrower is on both, so the whole loan shows on their credit file and counts against whatever they want to borrow next. Co-borrowing lifts what the buyer can afford because both incomes count. In a suburb where parents often hold a long owned home nearby, that difference decides whether they can still borrow for themselves.
Can I buy my first home in Willoughby with a 5% deposit?
If you are an eligible first home buyer, often yes, and at that deposit it means an apartment near Chatswood rather than a house. The Australian Government 5% Deposit Scheme lets you buy with a 5% deposit and pay no lenders mortgage insurance, with Housing Australia guaranteeing the gap between your deposit and 20%. It is a guarantee, not a grant. Not every lender is approved to write them, and the building still has to suit whichever one does.
How much equity can I use?
Usable equity is roughly 80% of what your place is worth today, less what you still owe. Go past 80% and lenders mortgage insurance usually comes back into it. In Willoughby the figure often surprises owners, because homes here change hands rarely and a house held for decades has had a very long time to move while the loan came down. It follows the valuation, so it is worth checking rather than guessing.
Should renovation money come out of the home loan?
For cosmetic work, usually yes, because home loan rates sit well below personal loan rates and a top up on the existing loan is simple. Once you are changing the structure, most lenders want a construction loan, which releases funds in stages against a fixed price contract and approved plans and values the property on what it will be worth finished. Given how much local stock arrives unrenovated, that is a common path here.
When I refinance, does my loan term reset?
Only if you let it. Most refinances default to a fresh thirty year term, which makes the monthly repayment look better and quietly adds years of interest. Ask for the remaining term instead, so a loan with twenty years left stays a twenty year loan. In a suburb where people hold property for decades, that reset can undo a great deal of progress in one signature. Nobody volunteers it, so ask.
How much does it cost to refinance a home loan?
Usually 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 new lender may charge a settlement or valuation fee, though plenty waive them. If you are on a fixed rate there can be break costs, so they get checked first. On a steep or unusual block, expect a full valuation rather than a desktop one, which adds a little time.
Do I have to change lenders to get a better rate?
Not always. Lenders price new business more sharply than existing loans, so long standing customers drift, and Willoughby has plenty of those. Many lenders will move on rate if you ask properly and can show them the market, which avoids a discharge fee, a new application and a fresh valuation. Sometimes the gap has grown too wide and moving wins. We check both before you decide anything.
What is an offset account and is it worth having?
An offset is a transaction account linked to your loan. Every dollar in it reduces the balance interest is charged on, without being locked away. If you have bought something needing work, it is particularly useful, because money set aside for the next stage is still working against your interest while it waits. If your account runs close to empty each month, a package fee can cost more than the offset saves.
Offset or redraw. What is the difference?
Redraw means paying extra off the loan and taking it back later. Offset means the money sits beside the loan in its own account. The interest effect is similar. What differs is access and treatment, because redraw can be restricted by the lender and money you redraw counts as new borrowing rather than your own savings returning. If this home might one day be let while you move on, offset is the cleaner structure. Your accountant can explain why.
Should I fix my rate or stay variable?
Fixed gives certainty for a set period, usually one to five years. Variable gives flexibility, an offset account and unlimited extra repayments. Most fixed loans do not come with a usable offset, which matters if you are staging renovation work and drawing on savings as you go. Breaking a fixed loan early can be expensive, so the term you choose matters more than the opening rate.
Can I split the loan between fixed and variable?
Yes, and it suits a household part way through work on a house. You fix a portion so the base repayment is certain, and leave the rest variable so the offset still works and extra repayments stay unlimited. A good rule is to leave at least as much variable as the balance you typically keep in offset, including whatever is set aside for the next stage of the build.
Interest only or principal and interest?
On a home you live in, principal and interest is almost always the answer, because interest only means you owe the same at the end of the period as at the start. On an investment it is a real question that turns on your wider position. The catch is that lenders assess an interest only loan on the repayment it reverts to, not what you pay now, so a Willoughby sized loan on interest only cuts a long way into what you can borrow next. Worth working through with your accountant.
Should I sell first or buy first?
Sell first and your number is certain, though you may be renting while you wait, and suitable homes here come up rarely. Buy first and bridging funds the purchase before your sale settles, which costs more while both loans run. Keeping the first place and letting it is the third route. Your equity and whether your income holds both loans decide which is genuinely open to you.
I live in Willoughby but want to buy elsewhere. Does that matter?
Far less than people expect. A lender assesses you, then it assesses the property you are buying. Where you currently live barely features. What does matter is the postcode and property type you are buying into, because lender restrictions attach to the security rather than to your address. Given how much equity has built up in long held Willoughby homes, using it to buy elsewhere is common and straightforward once the structure is right.
Should I use my bank or a mortgage broker?
A bank can only offer its own loans, its own valuation panel and its own rules. On an estate sale with an open settlement, or a house in original condition on a sloping block, a single lender's view decides everything, and you usually find out after you have applied and paid for a valuation. A broker checks it against many lenders first. Buyvest compares 35+ lenders at $0 cost to you.
Your Willoughby mortgage broker
Your home loan.
Made simple.
Free check. No pressure. 35+ lenders compared at $0 cost to you.
Willoughby sits between Chatswood and the harbour, so its neighbours run in every direction. Artarmon and Chatswood are west, with Roseville and Lindfield further up the line. Castlecrag and Northbridge share the ridge east towards Middle Harbour. South towards the Bridge sit St Leonards, Crows Nest, Wollstonecraft and Cammeray, with Neutral Bay beyond. Lane Cove is across the highway. We cover all of them, so if your search shifts a suburb or two, you are not starting from scratch.