How to find a mortgage broker in Lismore

Information verified correct on December 7th, 2016

With advice from a trusted local mortgage broker in Lismore, you can get a competitive home loan to buy a property.Mortgage Broker Lismore Feature 2

Famous for its natural beauty, Lismore offers a relaxed and peaceful place to live for “tree changers”. With World Heritage national parks on its doorstep, a thriving cafe scene and an abundance of quaint villages nearby, this part of the Northern Rivers is home to almost 30,000 people.

If you’d like to buy a property in the area and you’re looking to borrow money to do so, seek help from an experienced local mortgage broker so you can find the home loan that that suits your situation.

Which brokers have offices in Lismore?

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

  • Aussie Alstonville
  • Mortgage Choice Alstonville
  • Money Matters
  • Loan Market

What are the main suburbs in and around Lismore?

Mortgage Broker Lismore map

Source: Google Maps

1. Lismore

The regional centre of Lismore sits in the Northern Rivers region of NSW, a couple of hours south of the Queensland border. It’s home to a busy retail district and sits on the banks of the Wilsons River, boasting a population of 3,799 people.

The two largest demographic groups in Lismore are independent youth (18.8%) and established couples and families (14.9%). The median weekly household income in the suburb is $705.

The median house price is $284,500, annual capital growth is 2.27% and gross rental yield is 6.03%.

2. Goonellabah

Located east of Lismore, Goonellabah boasts a population of 12,537 people. It’s home to a shopping centre, Kadina High School, Goonellabah Public School, and Goonellabah Sports and Aquatic Centre.

The two largest demographic groups in the suburb are older couples and families and established couples and families, which respectively make up 22.1% and 15.3% of the population. The median weekly household income in Goonellabah is $958.

The median house price in Goonellabah is $355,000, annual capital growth is 3.23% and gross rental yield is 4.98%.

3. East Lismore

Located a short drive from the Lismore CBD, East Lismore runs along the banks of the Wilsons River and is home to Lismore Workers Golf Club and St Vincent’s Private Hospital. It has a population of 4,987 and a median weekly household income of $833.

The two largest demographic groups in East Lismore are established couples and families (18.8%) and older couples and families (15.6%).

The median house price is $325,000, average annual capital growth is 4.03% and gross rental yield is 5.28%.

4. Alstonville

The town of Alstonville is located on the Bruxner Highway, 19km east of Lismore and 13km west of Ballina. Originally known as Duck Creek Mountain, Alstonville is home to a shopping centre and three schools.

Alstonville has a population of 5,647, and the median weekly household income in the suburb is $888. The two largest demographic groups in Alstonville are older couples and families and elderly singles, who make up 20.5% and 15.6% of the population respectively.

The median house price in Alstonville is $450,000, annual capital growth is 3.41% and gross rental yield is 4.62%.

Buying property in Lismore

You’ll need to keep the following factors in mind if you’re thinking of buying property in Lismore:

  • Proposed North Lismore development. At the time of writing, a planning proposal had been presented to the NSW Department of Planning and Environment for a housing development on North Lismore plateau. If the proposed development goes ahead, it would eventually provide 1,500 new homes for around 3,700 people.
  • Property prices. From 2005 to 2015, median house prices in Lismore have increased 27% from $220,000 to $280,000.

Suburb property prices in Lismore

Lismore

Mortgage Broker Lismore - lismore graph

Source: APM PriceFinder

From 2014 to 2015, the median sale price for a house in Lismore increased slightly from $278,000 to $280,000.

Goonellabah

Mortgage Broker Lismore - goonellabah graph

Source: APM PriceFinder

The median sale price for a house in Goonellabah increased from $340,000 in 2014 to $360,000 in 2015.

East Lismore

Mortgage Broker Lismore - east lismore graph

Source: APM PriceFinder

From 2014 to 2015, the median sale price for houses in East Lismore rose from $309,750 to $325,000.

Alstonville

Mortgage Broker Lismore - alstonville graph

Source: APM PriceFinder

From 2014 to 2015, the median sale price in Alstonville increased from $430,000 to $462,500.

What will a typical mortgage cost in Lismore?

If you wanted to buy a house in Lismore for the median price of $284,500, most lenders would require you to provide a 20% deposit of $56,900. If you then borrowed the remaining balance of $227,600 at an interest rate of 4.5% p.a. on a 25-year loan, your fortnightly repayments would be $583.56 and the total cost of the loan would be $379,315.53.

How is a mortgage broker paid?

Mortgage brokers are paid a commission by lenders for sending new business their way. They receive an upfront commission when the loan is taken out, plus a trailing commission each year there is money still outstanding on your loan.

You can find out more about how mortgage brokers are paid here

How does a mortgage broker work?

A mortgage broker will take the time to understand your financial situation and what you are looking for in a home loan. Once they know what you need from a lender, a broker can provide you with a selection of choices from their panel of lenders, helping you choose the one that best matches your requirements.

Find out how brokers work


Picture: Wilson River Lismore by Benjamin Oakley, licensed under Creative Commons Attribution 2.0 Generic (image cropped)

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