Get the right mortgage for you even if you don't have enough time to compare.
If you're in the market for a home loan, you may figure that wandering into your local bank branch might be the easiest place to start. However, finding a mortgage broker in Sydney gives you the opportunity to compare many different home loan offerings available so you get a better deal.
You also get the benefit of having someone else to do most of the hard work of applying for a mortgage done for you. Read on to find out more about how you can select a professional mortgage broker in Sydney, what areas they service and other useful information when searching for one.
Sydney mortgage brokers comparison
|Broker||Details||Number of Lenders|
Choice Home Loans
Choice Home Loans has a wealth of expertise and knowledge in the home loans market. They have a wide range of lenders on their panel to help you get a home loan for a range of purposes. They work with some big lenders such as ANZ, CBA, Wetspac, Citibank, St.George to help you find the right home loan.
eChoice Mortgage Broker
When you do business with eChoice you will be given your own home loan manager to help you select. With the help of eChoice's skilled mortgage professionals and the company's state-of-the-art technology you will be able to choose from a range of hundreds of Australian home loans.
1300 Home Loan
1300 Home Loan has a range of lenders and over 200 mortgage brokers available for potential borrowers, meaning they have a huge amount of experience and knowledge available to help find you the right loan.
Aussie Home Loans
Aussie is one of Australia's leading financial service providers. Having won AB+F Magazine's Mortgage Broker of the Year Award for the last seven years, Aussie is proud to serve the nation with its no-fuss approach to lending, with up to 19 home loan providers to choose from, as well as their own services.
What is a mortgage broker?
The job of a good mortgage broker is to work as the middleman between you and your bank. They help you search for and compare home loans that will be best suited to your individual needs.
Mortgage brokers have access to a wide range of mortgage products available from a selection of banks, credit unions, building societies, and other non-bank lenders. This gives them plenty of flexibility to search for home loans with discounted interest rates or additional loan features to suit your own financial goals and preferences.
What areas of Sydney will a mortgage broker service?
A mortgage broker should happily service all areas of Sydney, including:
The Eastern Suburbs
The eastern suburbs encompass the metro areas directly east and south-east of the Sydney CBD. This may include council areas of Woollahra, Randwick and Waverley, among others.
The Inner West
The Inner Western suburbs generally encompass the metro area directly west of the Sydney CBD. This includes suburbs located between the south shore of the Parramatta River and down to the shore of the Cooks River. This includes suburbs such as Balmain, Concord, Canada Bay, Enfield, Enmore, Drummoyne and Strathfield.
The Northern Beaches
The Northern Beaches encompass the coastal suburbs directly to the north of Sydney. This includes suburbs ranging between Sydney Harbour to the south, Middle Harbour to the west and Broken Bay to the north. This means suburbs such as Collaroy, Brookvale, Manly and Narrabeen.
The North Shore
The North Shore suburbs encompass the metro area directly north of the Sydney CBD. This includes suburbs ranging between the north shore of Sydney Harbour, across to Middle Harbour and over to Lane Cove River. Suburbs included in this area are Wahroonga, Neutral Bay, Waverton, North Sydney and Willoughby.
The Hills District
The Hills District encompasses the suburbs to the north-west of Sydney. This includes the council areas of the Hills Shire, but also some of Parramatta, Blacktown and Hornsby Shire. Castle Hill, Baulkham Hills, Pennant Hills and Rouse Hill are some of the suburbs here.
The Sutherland Shire
The Sutherland Shire encompasses the suburbs within the Sutherland Shire region. This extends from the south of Botany Bay across to the Georges River, and includes Cronulla, Miranda, Sutherland, Sylvania and Woolooware.
The Forest District
The Forest District encompasses the suburbs to the north of the Sydney CBD. This mostly includes suburbs within the Warringah Council region such as Forestville, Frenchs Forest, Belrose and Killarney Heights.
Greater Western Sydney
Greater Western Sydney encompasses the suburbs to the west of the Sydney CBD. This includes suburbs within the Council areas of Auburn, Camden, Campbelltown, Bankstown, Blacktown, Blue Mountains, Fairfield, Hawkesbury, Holroyd, Liverpool, Parramatta, Penrith and Wollondilly Shire.
Pros and cons of using a Sydney mortgage broker
- Saves you time and effort
- Shopping around is done for you
- Huge choice of home loans
- May uncover deals you may have missed
- You don't pay a fee for broker service
- Can help you avoid hidden bank fees and charges
- Can negotiate on your behalf for better deals
- Can locate banks more likely to approve your application
- Brokers are in business to make money
- Some can be biased towards certain lenders
- They each have a limited panel of lenders, so you may miss out on lenders not in this panel
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Frequently asked questions about mortgage brokers in Sydney
Where are mortgage brokers located across Sydney?
You should find that there are mortgage brokers located everywhere in Sydney. Regardless of where their primary office location might be, the majority of brokers will drive out to see you at a time and place that suits you – no matter where in Sydney you might be.
Where can I find a comprehensive list of mortgage brokers?
There are so many mortgage brokers in Sydney that it would take up most of this page to list them all. You can log onto the MFAA website and then click on the link that says 'Find An MFAA Member'. Then it's as easy as typing in your postcode into the postcode search box and calling up some of the MFAA-accredited brokers it lists.
Will a mortgage broker charge me a fee?
The majority of mortgage brokers won't charge a fee for their services. You should find most are paid commissions by whichever bank or lender they introduce the loan to. If you do happen to find a broker who charges a fee, ask what that fee is for. You may find some specialty brokers may charge for working with difficult, unusual or complicated loans. This may be true of non-conforming loan specialists and commercial loan specialists, however. Always check that the reason you're given for being charged a fee is valid.
How long will a loan take to be approved with a mortgage broker?
The time frames for loan approvals and on through to settlement can vary enormously based on multiple different factors. A more complex home loan application may take longer to assess than a simpler one. You will also find that a construction loan takes longer to move through the process than a loan for a regular purchase or refinance.
Here is a guideline to average time frames for the loan application process:
|Day 2||Loan application process|
|Day 3-6||Conditional approval|
|Day 6-10||Valuation process|
|Day 8-12||Unconditional approval|
|Day 12-20||Mortgage documents issued|
|Day 22-30||Loan settlement process|
|Day 30-31||Settlement – congratulations!|