Find a great mortgage broker in Tamworth

Information verified correct on December 6th, 2016

If you’re looking to buy a home in Tamworth, an experienced mortgage broker can offer the advice and assistance you need.Mortgage Broker Tamworth Feature 3

Situated on the banks of the Peel River, Tamworth is best known around Australia for its annual country music festival. While the festival draws tens of thousands of visitors to Tamworth every year, there are also almost 48,000 people that call this region of NSW home.

Combining the slower pace of a country lifestyle with all the facilities and entertainment options you’d expect to find in a large regional centre, Tamworth is an ideal place to live if you’re  keen on a tree change.

If you’re looking to buy property in and around Tamworth, finding a local mortgage broker with years of knowledge and experience can help you get a better home loan deal.

Which brokers have offices in Tamworth?

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 in Tamworth

  • Smartline Personal Mortgage Advisers
  • Eastland Finance

What are the main suburbs within Tamworth?

Mortgage Broker Tamworth Map

Source: Google Map

1. Hillvue

Located just outside of South Tamworth, the residential suburb of Hillvue is home to the famous Golden Guitar and the Tamworth Regional Entertainment Centre.

It has a population of 6,255, of which 27.5% are older couples and families and 19.7% are established couples and families. The weekly median income in Hillvue is $1,365 per household.

The median house price is $360,000, with average annual growth of 2.52% and gross rental yield of 5.16%

2. South Tamworth

Located on the southern side of the Peel River, the mostly residential suburb of South Tamworth is home to two shopping centres, South Tamworth Public School and Tamworth High School.

It hosts a population of 6,692, with a median weekly household income of $749. The two largest demographic groups in the area are established couples and families (16.7%) and older couples and families (15.6%).

The median sale price for a South Tamworth house in 2015 was $249,000, with annual capital growth at 2.96% and a gross rental yield of 6.37%.

3. West Tamworth

Situated between South Tamworth and Tamworth’s industrial area, West Tamworth is home to the Bridge Street commercial area and three schools. It also boasts a population of 5,347 people, of which 17.4% are established couples and families and 15.3% are older couples and families. The median weekly income in West Tamworth is $726.

The median sale price for West Tamworth houses in 2015 was $227,500, with a quarterly growth of 4.07% and a 12-month growth of 12.44%. Gross rental yield on houses in the suburb is 6.68%.

4. North Tamworth

Found to the north of the Peel River between East Tamworth and Oxley Vale, North Tamworth is home to Tamworth Base Hospital and a shopping centre. The area has a population of 4,090, of which 14.2% are older couples and families and 14% are established couples and families. The median weekly household income in North Tamworth is $898.

The median house sale price in North Tamworth is $352,500, while 12-month growth and average annual growth are at 1.42% and 5.29% respectively. The median advertised weekly rent is $333 and gross rental yield is 4.84%.

Buying property in Tamworth

Consider the factors below if you’re thinking of buying property in Tamworth:

  • Evocities campaign. Along with other regional centres, Tamworth launched the Evocities campaign in 2015 to encourage more people to move to regional NSW. The campaign highlights Tamworth as a centre for energy, vision and opportunity, and it aims to inform city dwellers of the cheaper property prices on offer in regional Australia.
  • Property prices. As very few residential properties are sold in Tamworth itself each year, it’s best to look at suburbs such as South Tamworth and West Tamworth to get a gauge on the property market’s performance. In South Tamworth, the median sale price for houses rose from $198,000 in 2005 to $249,000 in 2015. In West Tamworth, prices increased from $162,000 in 2005 to $227,500 in 2015.

Property prices in Tamworth suburbs

Hillvue

Mortgage Brokre - hillvue graph

Source: APM PriceFinder

The median sale price for a house in Hillvue fell from $375,000 in 2014 to $360,000 in 2015.

South Tamworth

Mortgage Broker - south tamworth graph

Source: APM PriceFinder

The median house price in South Tamworth increased from $231,750 in 2014 to $249,000 in 2015.

West Tamworth

Mortgage Broker Tamworth - west tamworth graph

Source: APM PriceFinder

In West Tamworth, median house sale prices rose from $200,000 in 2013 to $227,500 in 2015.

North Tamworth
Mortgage Broker - north tamworth graph

Source: APM PriceFinder

The median sale price in North Tamworth rose from $270,000 in 2011 to $352,500 in 2015.

What will a typical mortgage cost in Tamworth?

The median house sale price in Tamworth was $554,500 in 2015, which means the majority of lenders would require a 20% deposit of $110,900. If you were to borrow the remaining $443,600 from a lender at a rate of 4.5% p.a. on a 25-year loan, your fortnightly repayments would be $1,137.38 and the total cost of the loan over its term would be $739,298.64.

How is a mortgage broker paid?

Many borrowers are surprised to learn that you actually don’t pay anything to most mortgage brokers. Instead,brokers are paid a commission from the lender you take out a loan with. Brokers receive a commission upfront and a trailing commission that is calculated based on the outstanding amount remaining on your loan each year.

If you later decide to refinance your loan with a different lender, brokers usually have to pay a clawback commission fee to the lender. This gives mortgage brokers extra motivation to  match you with a loan that satisfies all of your borrowing needs.

It’s also worth pointing out that some brokers do charge a fee for their services, so read our article on how brokers are paid for more information.

What does a mortgage broker do?

The job of a mortgage broker is to carefully assess your financial circumstances and borrowing requirements before offering you a choice of suitable loans. Brokers have access to a panel of lenders through an aggregator, allowing them to provide you with a range of mortgage options.

Mortgage brokers are regulated by the National Consumer Credit Protection Act (NCCP), which specifies their duty of care to provide you with a suitable loan that will not place you in financial difficulty. Read more about the services mortgage brokers offer.

Picture: joey.m596, licensed under Creative Commons Attribution-NonCommercial-ShareAlike 3.0 Unported (image cropped)

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