How to find the right mortgage broker in Bendigo

Information verified correct on May 23rd, 2017

A good mortgage broker can help you find the right home loan to buy property in Bendigo.Mortgage Broker Bendigo Feature 2

The historic goldfields town of Bendigo has a lot to offer to homeowners and investors. As Australia’s fourth-largest inland city, it offers plenty of employment opportunities and access to shopping, dining and entertainment outlets. Bendigo also boasts a fascinating history, a thriving arts scene and easy access to large national parks.

If you’re looking to buy property in Bendigo, either to live in or as an investment, you’ll need to enlist the services of an experienced local mortgage broker to help you find the home loan that’s right for you.

Which brokers have offices in Bendigo?

Rates last updated May 23rd, 2017
Details Features
Aussie Home Loans
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. Up to 20 lenders Enquire Now More info
Pepper Money
Pepper Money
Pepper specialises in providing fair home loans to those who are credit impaired - from small defaults all the way up to discharged bankruptcies. Credit impaired home loans Enquire Now More info

Other brokers

  • Smartline Personal Mortgage Advisers
  • Gadsden Finance
  • Mainland Finance
  • Integrity Finance
  • Bendigo Leasing and Finance

What are the main suburbs within Bendigo?

Mortgage Broker Bendigo Map

Source: Google Maps

1. Bendigo

Covering roughly 3,000 square kilometres, the City of Greater Bendigo boasts spectacular Victorian colonial architecture.

The population of Bendigo itself is 5,774, of which 19.3% are older couples and families and 15.8% are established couples and families. The median weekly household income in the suburb is $957.

With a median sales price of $335,000, houses in Bendigo experience average annual growth in value of 5.48% and gross rental yield of 4.5%.

2. Golden Square

Found 3km south-west of Bendigo’s CBD, Golden Square is a largely residential area that features schools, a shopping centre and the Bendigo Police Station. The suburb has a population of 8,301 people, with the two largest demographic groups being older couples and families (20.7%) and established couples and families (15%). The median weekly household income in Golden Square is $930.

The median house price in Golden Square is $310,000, 12-month growth is 3.77%, average annual growth is 4.35% and the weekly median advertised rent is $285.

3. Kennington

The suburb of Kennington sits 3km  south-east of the Bendigo CBD. It is home to the Kennington Reservoir and has a population of 5,830, while the median household income in the suburb is $990 per week.

The two largest demographic groups in Kennington are older couples and families (19.2%) and established couples and families (16%).

The median house price in Kennington is $326,500, annual capital growth is 4.61% and the weekly median advertised rent is $300.

4. Kangaroo Flat

Situated 5km south-west of the Bendigo CBD, Kangaroo Flat adjoins the suburb of Golden Square and boasts a large shopping centre and five schools. It has a population of 9,492 and a median weekly household income of $886.

The two largest demographic groups in Kangaroo Flat are older couples and families (21%) and established couples and families (14.7%).

The median house price in the suburb is $295,000, average annual capital growth is 3.69% and the weekly median advertised rent is $295.

Buying property in Bendigo

You’ll need to consider the following factors if you’re thinking of buying property in Bendigo:

  • Airport upgrade. In the 2015 Federal Budget, $5 million of funding was allocated to the upgrade of Bendigo Airport. The money will be used to finish an expansion of the facility.
  • Property prices. In 2005, the median sale price for a house in Bendigo was $208,000. By 2015, this figure had risen to $340,000. Meanwhile, median unit prices have increased from $205,500 in 2005 to $252,500 in 2015.

Suburb property prices in Bendigo


Mortgage Broker - bendigo graph

Source: APM PriceFinder

The median house sale price for Bendigo fell from $377,500 in 2014 to $340,000 in 2015.

Golden Square

Mortgage Broker - golden square graph

Source: APM PriceFinder

Median house prices in Golden Square have remained steady at $300,000 throughout 2014 and 2015.


Mortgage Broker - kennington graph

Source: APM PriceFinder

The median sale price for houses in Kennington fell from $345,000 in 2014 to $329,000 in 2015.

Kangaroo Flat

Mortgage Broker - kangaroo flat graph

Source: APM PriceFinder

From 2014 to 2015, median house sale prices in Kangaroo Flat fell slightly from $302,000 to $300,000.

What will a typical mortgage cost in Bendigo?

As the median house price in Bendigo is $335,000, many lenders will require you to have a 20% deposit of $67,000 in order to take out a loan. If you then borrowed the remaining $268,000 at an interest rate of 4.5% p.a. on a 25-year loan term, your fortnightly repayments would be $687.15. The total cost to you over the life of the loan would be $446,645.71.

The median unit price in Bendigo in 2015 is $310,000, so a 20% deposit equals $62,000. If you were to borrow the remaining $248,000 at 4.5% p.a. on a 25-year term, you’d need to make fortnightly repayments of $635.87. The total cost over the life of the loan is $413,313.94.

How is a mortgage broker paid?

Brokers get paid in commissions from lenders when they generate new business. Brokers receive an initial commission when a loan is taken out, plus a trailing commission that is calculated based on how much money is still owing on your loan each year.

However, if you later decide to refinance your home loan with another lender, the broker will have to pay a clawback commission fee to the original lender. This clawback commission is designed to encourage mortgage brokers to match you with a loan that meets all your financial needs.

Find out more about how mortgage brokers are paid

How does a mortgage broker work?

Under the National Consumer Credit Protection Act (NCCP), mortgage brokers have a duty of care to match you with a home loan that you will be capable of repaying without enduring financial hardship.

After assessing your financial situation and your borrowing needs, a mortgage broker can then offer you a selection of loans from a panel of lenders.

Check out our page on the broking process

Picture: The tulips are back by s13n1, licensed under Creative Commons Attribution-NonCommercial-ShareAlike 2.0 Generic (image cropped)

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