How to find the right mortgage broker on the Northern Beaches

Information verified correct on December 3rd, 2016

Looking to buy property on Sydney’s Northern Beaches? An experienced local mortgage broker can help you find the finance you need.Mortgage Brokers Northern Beaches Feature

Renowned for its coastline, the Northern Beaches is home to some of the best beaches in Sydney. From the famous sands of Manly right up to the exclusive locale of Palm Beach, this spectacular region offers a relaxed coastal lifestyle and homes to suit a variety of budgets.

If you’d like to buy property on the Northern Beaches, either as an investment or to live in, finding the right home loan is crucial. With help from a trusted local mortgage broker, you can access the funds you need to buy a property.

Which brokers are available or have offices on the Northern Beaches?

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
  • Loan Market
  • Energise Home Loans
  • Smartline Personal Mortgage Advisers
  • Altitude Finance
  • Mojo Finance
  • Home Loan Options
  • The Mortgage Professionals

What are the main suburbs on the Northern Beaches?

Mortgage Broker Northern Beaches map

Source: Google Maps

1. Manly

Combining the best of Australian coastal living with proximity to the city, Manly has long been a favourite spot for tourists and locals alike. With its beautiful beach and the nearby harbour, Manly offers great dining, a cosmopolitan nightlife and any number of opportunities to soak up some sun.

Manly has a population of 15,072 people, of which 25.7% are maturing and have established independence and 22.3% are independent youth. The median weekly household income in Manly is $2,084.

The median house price is $2.108 million, annual capital growth is 5.79% and gross rental yield is 2.96%.

2. Dee Why

Located 18km north-east of Sydney’s CBD, Dee Why is one of the main centres of the Northern Beaches region. It features beautiful beaches and coastal scenery, a busy shopping area along Pittwater Road, and a mixture of multi-storey apartment complexes and detached houses.

The population of Dee Why is 19,838 and the median weekly household income is $1,435. The two largest demographic groups in the suburb are those who are maturing and have established independence (27.8%) and independent youth (20.3%).

The median house price is $1.411 million, annual capital growth is 6.73% and gross rental yield is 2.86%.

3. Frenchs Forest

Situated 13km to the north of the Sydney CBD, Frenchs Forest is home to 13,191 people. Located next to Garigal National Park, Frenchs Forest also features four schools and several shopping centres.

The two largest demographic groups in Frenchs Forest are established couples and families and older couples and families, which respectively make up 24.1% and 21.6% of the population. The median weekly household income in the suburb is $2,135.

The median sale price for a house in Frenchs Forest is $1.3 million, annual capital growth is 6.7% and gross rental yield is 3.4%.

4. Collaroy

Originally a part of Narrabeen, Collaroy is located 22km north-east of the Sydney CBD. It’s famous for its surf breaks and is home to four surf lifesaving clubs, a bustling shopping precinct and 14,387 people. The median weekly household income in the suburb is $1,862.

The two largest demographic groups in Collaroy are those who are maturing and have established independence (16.7%) and older couples and families (15.5%).

The median sale price for a house in Collaroy is $1.825 million, annual capital growth is 5.03% and gross rental yield is 3.49%.

5. Avalon Beach

Located towards the far northern tip of the Northern Beaches region, Avalon Beach is 37km from the Sydney CBD. Also referred to simply as Avalon, it’s home to a golf club, sailing club, RSL club and three schools.

The population of Avalon Beach is 10,602 people, of which 22.1% are older couples and families and 19.9% are established couples and families.

The median house price in Avalon Beach is $1.3 million, annual capital growth is 3.34% and gross rental yield is 3.8%.

6. Mona Vale

Mona Vale is located 28km north of the Sydney CBD. It features a variety of shopping options, a golf course, a hospital, two primary schools and a high school.

The population of Mona Vale is 10,166 and the median household income is $1,686 per week. The two largest demographic groups in the area are older couples and families (20.2%) and established couples and families (13.5%).

The median sale price for a house in Mona Vale is $1.375 million, annual capital growth is 5.79% and gross rental yield is 3.21%.

Buying property on the Northern Beaches

Take the following issues into consideration if you’re thinking of buying property on Sydney’s Northern Beaches:

  • Public transport. Although the Northern Beaches has a poor reputation for public transport options, the NSW State Government announced a $633 million Northern Beaches Transport Action Plan in June 2015. This includes $400 million in major road improvements designed to reduce congestion and improve travel times.
  • Property prices. In the 10 years from 2005 to 2015, the median house price in Manly has increased from $1.235 million to $2.115 million. In the same period, the median unit price jumped from $618,000 to $1.05 million.

Suburb property prices on the Northern Beaches

Manly

Mortgage Broker Northern Beaches - manly graph

Source: APM PriceFinder

From 2014 to 2015, the median sale price for a house in Manly increased from $2.01 million to $2.115 million.

Dee Why

Mortgage Broker Northern Beaches - dee why graph

Source: APM PriceFinder

The median house price in Dee Why increased from $1.14 million in 2014 to $1.49 million in 2015.

Frenchs Forest

Mortgage Broker Northern Beaches - frenchs forest graph

Source: APM PriceFinder

From $1.105 million in 2014, the median house price in Frenchs Forest increased to $1.363 million in 2015.

Collaroy

Mortgage Broker Northern Beaches - collaroy graph

Source: APM PriceFinder

From 2014 to 2015, Collaroy’s median house price increased from $1.57 million to $1.811 million.

Avalon Beach

Mortgage Broker Northern Beaches - avalon beach graph

Source: APM PriceFinder

The median sale price for houses in Avalon Beach jumped from $1.25 million in 2014 to $1.308 million in 2015.

Mona Vale

Mortgage Broker Northern Beaches - mona vale graph

Source: APM PriceFinder

From 2014 to 2015, Mona Vale’s median house price increased from $1.2 million to $1.41 million.

What will a typical mortgage cost on the Northern Beaches?

If you want to buy a house in Manly at the median price of $2.108 million, most lenders will require you to provide a 20% deposit of $421,500 in order to take out a loan. If you then borrowed the remaining $1.686 million of the purchase price at an interest rate of 4.5% on a 25-year loan, your fortnightly repayments would be $4,322.87 and the total cost of the loan would end up being $2,809,868.14.

If you want to purchase a unit at the median price of $990,000, a 20% deposit of $198,000 would usually be required. Borrowing the rest of the money needed to buy your unit – $792,000 – at 4.5% p.a. for 25 years would lead to fortnightly repayments of $2,030.67. The total cost of the loan would then be $1,319,938.06.

How is a mortgage broker paid?

When they generate new business for a lender, mortgage brokers receive a commission. They are usually paid an upfront commission when you apply for a home loan, and a trailing commission based on how much is owing on the loan each year.

Read our guide to how mortgage brokers are paid for more information about how brokers work.

How does a mortgage broker work?

After examining your finances and your borrowing needs, a broker will help you choose a home loan from a panel of lenders. Our guide to mortgage brokers and the broking process explains how you can find the right loan for your needs.

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