World Square mortgage broker
World Square mortgage broker
A mortgage broker
who knows World Square.
One city block, one very large residential tower, and a lot of apartments that were bought to let rather than to live in. We compare 35+ lenders and it costs you nothing.
35+
Lenders
10+
Years experience
1,000+
Clients helped
$0
Cost to you
About World Square
What the World Square market actually looks like
History of World Square
The block bounded by George, Liverpool, Pitt and Goulburn Streets was once Brickfield Hill, where the colony dug its clay. The site sat as a hole in the ground for years before the precinct was built out from the 1990s, opening in 1999 and finishing in the mid two thousands with World Tower and the office building at 680 George Street.
World Square property market
Unusual for the city in that most of the housing sits in a single building. World Tower carries around seven hundred apartments across its residential levels, alongside a hotel, offices, a shopping centre and over a hundred retailers in the same block. A large share of the apartments are owned by investors and let rather than occupied by their owners.
World Square property prices
At the more accessible end of the city market, with studios and one bedroom apartments well below the harbour precincts and larger apartments higher in the tower reaching considerably more. Because so many apartments sit in one building, there are plenty of comparable sales to price against, which makes valuations more predictable here than in the smaller CBD buildings.
Borrowing in World Square
The building does a lot of the work. Amenity across the residential levels means levies that are counted as a commitment when a lender assesses you, and with hundreds of apartments in a single development the specific building comes up in a way it does not in a suburb of separate houses. Both are worth establishing before you commit.
World Square is one of the areas we cover across the Sydney CBD, and the one where most of the housing sits in a single building.
Buying here to
rent it out?
What a lender counts as rent and what the appraisal says are two different numbers. We will show you both.
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.
One building, hundreds
of apartments.
Send us the address before you make an offer and we will check it across the panel for you.
Client stories
How we helped
Three real situations, and what actually happened in each one.
Their income carried the loan.
They were buying to let and had built their budget on the full rental appraisal. Lenders count only a portion of expected rent, allowing for vacancy, management and costs, then assess the loan at a rate above the one you actually pay. Levies came off on top. Once the real numbers were in front of them, their own income was doing nearly all the work, which changed the price range they searched in.
Too many loans in one tower.
They had approval and found the apartment they wanted, then their lender declined for a reason that had nothing to do with them. It had already lent as much as it was prepared to inside that particular building. Their deposit and income were never in question. We moved the application to a lender with no exposure there and the purchase settled on the original date.
Nobody had checked in years.
They had held the same loan since settlement and had never compared it against anything. Lenders reserve their sharper pricing for new customers, and the difference opens up quietly over the years with nobody pointing it out. We ran their position across the panel and moved the loan, and the monthly repayment came down meaningfully on a loan of the same size and remaining term.
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 World Square 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 World Square 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 knowing whether you are buying to live in or to let. 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 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
World Square questions, answered
Why use a mortgage broker at World Square?
Because with most of the housing here sitting in one large building, the building matters to a lender as much as you do, and a single bank tells you only its own position. We compare 35+ lenders at no cost to you, prepare the application properly and manage it through to settlement. Brokers also work under a legal obligation called the Best Interests Duty.
How much deposit do I need?
Twenty per cent avoids lenders mortgage insurance, and at this end of the city that figure is more reachable than in the harbour precincts. Plenty of buyers proceed with five or ten per cent and pay the insurance instead. Some occupations can have it waived, and if you already own property the equity in it generally does the job of cash.
Is the deposit different for an investment purchase?
It can be, because lenders often advance a smaller share of the value on an investment than on a home. That means a larger deposit for the same property depending on how it will be used. The rate is usually different too. It is worth establishing both before you set a budget rather than assuming the figures you have seen for owner occupied lending apply.
What is lenders mortgage insurance?
A single premium charged when your borrowing exceeds eighty per cent of the property value, and it protects the lender rather than you. It can usually be added to the loan instead of paid separately. A twenty per cent deposit removes it, as can a professional waiver with certain lenders, a family guarantee, or the Australian Government 5% Deposit Scheme if you qualify.
Can a first home buyer use the 5% Deposit Scheme here?
At the studio and one bedroom end it can work, since prices in this part of the city more often sit under the scheme property cap. 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%. It applies to a home you will live in, not to an investment purchase.
How does a guarantor loan work?
A family member offers part of the equity in their property as extra security behind your loan. They take on none of your repayments and no money changes hands. 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 someone has to ask for it.
Do strata levies really affect what I can borrow?
Yes, and it matters more here than in a plainer building. Levies are counted as an ongoing commitment in the assessment, so a development with pools, gyms, lifts and concierge produces a different borrowing outcome from a simpler building at the same purchase price. Over a year the difference is substantial, which is why it is worth weighing alongside the price.
What should I look for in the strata report?
The capital works fund 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 a large building with extensive plant and amenity, those are the expensive items. Your solicitor will go through the report and raise anything that needs addressing before you commit.
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 circumstances so you can look with a real figure. It is not approval on a particular apartment, since the building forms part of the assessment once a contract is in front of a lender.
What reduces my borrowing capacity?
Credit card limits whether or not you owe anything, existing loan repayments, ongoing commitments, study debts and dependants. Lenders also test whether you could repay at a rate well above the one you will be charged. Where you already hold an investment property, the levies and costs on that count too. Clearing small facilities before applying often helps more than a sharper rate would.
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 figure differing between lenders, and the loan is assessed at a rate above the one you actually pay. Strata levies then come off as an expense. That is why a rental appraisal and the number a lender works from are rarely the same.
Should an investment loan be interest only?
It is more common on investment lending than on a home, because the repayment is lower while the balance stays where it is, and the debt is unchanged when the interest only period ends. Principal and interest reduces what you owe and costs less overall. There are tax consequences either way, so that decision belongs with your accountant rather than with us.
How should the loans be arranged if I already own a home?
Generally with each property securing its own loan rather than one lender holding both for the same borrowing. Bundling them means every later request is assessed against the whole arrangement and selling either becomes harder than it should be. Separation also keeps the investment borrowing clearly identifiable, which your accountant will want at tax time.
Can I use equity in my home to buy here?
Yes, and it is the usual route. Rather than saving a separate deposit, you release equity from a property you already own to cover the deposit and the purchase costs, so nothing comes out of savings. That produces two loans, one secured by each property. Whether it proceeds depends on your income supporting both once part of the rent is counted.
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 charged while remaining fully available to you. It suits anyone who keeps a working balance. Loans with an offset can carry a slightly higher rate or an annual fee, so it depends on what you typically hold.
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 allows you to take it back under terms it can change. Offset gives cleaner access. On an investment loan the distinction can also matter for tax, which is a question for your accountant.
Should I fix the rate?
Fixing sets your repayment for an agreed period, which helps where you want a predictable holding cost. You forgo the benefit if rates fall. Variable follows the market and normally keeps an offset and unlimited extra repayments available. Fixed loans commonly cap extra repayments and can carry break costs if you exit early or sell during the term.
Can I split the loan?
Yes, and most lenders allow it at no additional cost. A split divides the borrowing into portions carrying different rates or terms, so you might fix one part for certainty and leave another variable with an offset attached. It is also useful where part of the borrowing relates to one property and part to another. Lenders rarely suggest it.
Can I make extra repayments?
On a variable loan, usually without limit, and every extra dollar reduces the interest charged from that day forward. Fixed loans normally cap what you can pay ahead each year and charge beyond it, and that cap is worth checking before you fix. On an investment loan, whether to pay ahead at all is a question your accountant should weigh in on.
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. In a building with hundreds of apartments a valuer has plenty of recent comparable sales to work from, which usually makes the number more predictable than in a small building. A strong result well above those comparables can still fall short.
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, when your loan has come down under eighty per cent of the value, or when you want to release equity for another purchase.
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 get checked before anything else so the comparison is an honest one.
Does the loan term reset when I refinance?
It does unless you ask otherwise, because refinances default to a fresh thirty year term. That makes the monthly repayment look smaller while adding years of interest and handing back the progress already made. Ask for the remaining term instead. No lender raises this for you, so it needs requesting every time you move.
Can I buy my next home before selling this one?
Yes, and with two routes to choose between. Bridging finance settles the new place while this one is still listed, and the sale pays the bridge out when it completes. Alternatively you draw on the equity you hold to fund the purchase and sell whenever it suits, which takes the deadline off the sale price. Which one fits comes down to your equity and whether your income covers both loans for a period.
Should I keep this apartment when I move on?
It is a common plan here, given how much of the building is already let. 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 to factor in. Keeping a former home also changes its tax position, 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. Because there are many comparable sales in the same building, the valuation tends to be reasonably predictable. What your income supports usually sets the practical limit rather than the equity.
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, how comfortable they are with a particular development, how much they already hold there and how they treat a compact apartment all differ between lenders and change over time. Send us the address before you make an offer and we will check the panel.
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, which suits investors who are not always in Sydney. If you would rather meet face to face we come to you, including evenings and weekends.
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, including what each lender will actually count from the rent. Weekday evenings until nine and on weekends.
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 your income. If it has already lent as much as it wants in that development, the answer is no and you usually find out after applying and paying for a valuation. We compare 35+ lenders first, at $0 cost to you.
Your World Square mortgage broker
Your home loan.
Made simple.
Free check. No pressure. 35+ lenders compared at $0 cost to you.
World Square sits in the southern half of the city between Town Hall and Central. Sydney surrounds it, Town Hall is immediately north and Chinatown and Haymarket are next door to the south west. Martin Place sits north east, with Circular Quay and Barangaroo on the harbour. Newtown and Marrickville run south west, Balmain lies across Darling Harbour Mascot sits south towards the airport and Milsons Point across the bridge. We cover all of them, so if your search shifts a suburb or two, you are not starting from scratch.