Find a mortgage broker in Ballarat

Information verified correct on December 5th, 2016

With help from a local mortgage broker, you can get the finance you need to buy your dream property in Ballarat.Mortgage Broker Ballarat Feature 2

The regional centre of Ballarat has a fascinating history that includes the gold rush days of the 1850s and the famous civil uprising at the Eureka Stockade. Today, Ballarat is a thriving regional centre just over 100km north-west of Melbourne. Its population of almost 97,000 people makes it the third most populous urban area in Victoria.

If you want to buy property in Ballarat, enlist the services of a local mortgage broker to help you find a loan that meets your needs.

Which brokers have offices in Ballarat?

Broker Details No. of Lenders
Aussie Home Loans Details and Application
Aussie Home Loans

Aussie is one of Australia's leading financial service providers, having won The Adviser’s Top Mortgage Broker award for the last 3 years. They charge no appointment fees and can meet at a time and place which suits you.

20 Enquire
More info
Online Home Loans Details and Application
Online Home Loans

Online Home Loans is a mortgage broker service designed to help Australian borrowers find the right home loan – and do it all online.

Enquire
More info
iConnect Financial Services
iConnect Financial

iConnect has hundreds of loans available through more than 40 lenders in Australia to choose from to find the home loan that is right for you.

40+ Enquire
More info

Other brokers

  • Mortgage Choice
  • Smartline Personal Mortgage Advisers
  • Freedom Home Loans
  • Mortgage House
  • Ballarat Finance Company
  • Reliable Mortgage Services

What are the main suburbs within Ballarat?

Mortgage Broker Ballarat Map

Source: Google Maps

1. Alfredton

Located just to the west of the Ballarat CBD and Lake Wendouree, Alfredton is home to several famous landmarks, including the Arch of Victory and the Avenue of Honour. It’s also the site of the Ballarat Golf Club and has a population of 7,194.

The two largest demographic groups in the suburb are established couples and families (25%) and older couples and families (24.2%). The median weekly household income in Alfredton is $1,384.

The median sale price for a house in Alfredton is $356,500, annual capital growth is 2.5% and gross rental yield is 4.67%.

2. Ballarat North

With a total population of 3,923, Ballarat North is located, as its name suggests, immediately to the north of the Ballarat CBD. A residential and industrial suburb, Ballarat North boasts a median weekly household income of $878.

The two largest demographic groups in Ballarat North are older couples and families and established couples and families, making up 18.5% and 16.5% of the population respectively.

The median price for a house in Ballarat North is $318,500, annual capital growth is 2.47% and gross rental yield is 4.57%.

3. Sebastopol

The second most populous suburb of Ballarat, Sebastopol is home to 9,398 people and is located south of the city on the urban/rural fringe. Originally a separate town, Sebastopol boasts a primary school and a secondary school, several shopping areas and The Complex Recreation Centre.

The two largest demographic groups in Sebastopol are older couples and families (17.1%) and established couples and families (14.8%). The median weekly household income in the suburb is $764.

The median sale price for houses in Sebastopol is $239,975, annual capital growth is 3.25% and gross rental yield is 5.63%.

4. Wendouree

Located to the northwest of the Ballarat CBD, Wendouree derives its name from nearby Lake Wendouree. It’s home to 10,597 people, making it the most populous suburb in the Ballarat area. It’s also where you’ll find Eureka Stadium and the Ballarat Showgrounds.

Older couples and families and established couples and families are the two largest demographic groups in Wendouree, respectively making up 17.4% and 14.4% of the local population. The median weekly household income in the suburb is $731.

The median sale price for a house in Wendouree is $240,000, annual capital growth is 2.91% and gross rental yield is 5.63%.

Buying property in Ballarat

Keep the following issues in mind if you’re thinking of buying property in the Ballarat area:

  • Major events upgrade. In the 2015-16 state budget, the Victorian Government pledged $31.5 million of funding to an upgrade of the Ballarat Major Events Precinct. A substantial portion of those funds will go towards an upgrade of Eureka Stadium.
  • Property prices. The median sale price for houses in Ballarat Central has increased from $232,750 in 2005 to $327,500 in 2015.

Suburb property prices in Ballarat

Alfredton

Mortgage broker Ballarat - alfredton graph

APM: PriceFinder

The median sale price for houses in Alfredton fell from $361,500 in 2014 to $336,250 in 2015.

Ballarat North

Mortgage broker ballarat north graph

APM: PriceFinder

From 2014 to 2015, the median sale price for a house in Ballarat North increased from $305,000 to $315,000.

Sebastopol

Mortgage broker Ballarat - sebastopol graph

APM: PriceFinder

The median house price in Sebastopol increased from $235,625 in 2014 to $240,000 in 2015.

Wendouree

Mortgage broker Ballarat - wendouree graph

APM: PriceFinder

From 2014 to 2015, the median sale price for a house in Wendouree dropped slightly from $240,000 to $238,000.

What will a typical mortgage cost in Ballarat?

To buy a house in Ballarat at the median price of $312,500, most lenders would require you to have a 20% deposit of $62,500. If you were to then borrow the remaining $250,000 at 4.5% p.a. on a 25-year term, your fortnightly repayment amount would be $641 and the total cost of the loan over its life would be $416,647.11.

How is a mortgage broker paid?

Rather than charging a fee to borrowers, mortgage brokers make money on commissions they receive from lenders for attracting new business. Lenders pay out an upfront commission when you apply for a loan, while a recurring commission is paid calculated on the amount outstanding on your loan each year.

Read more about mortgage brokers and commissions

How does a mortgage broker work?

Mortgage brokers work in your best financial interests to find a mortgage that meets all your home loan requirements. After assessing your income and your borrowing needs, a broker will present you with a choice of loans from a panel of lenders.

Read our guide on the broking process

Picture: Australia Day Peal by Ed Dunens, licensed under Creative Commons Attribution 2.0 Generic (image cropped)

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