How to find a mortgage broker in Newcastle

Find the right broker to make your property purchase or refinance easy

Find a mortgage broker in Newcastle

Buying, renting or investing in a property is a big decision. This is why getting in touch with a good local mortgage broker is essential.

Using a mortgage broker allows you to leverage their experience and access loans from their panel of lenders. They can negotiate for a competitive product and help you submit the required paperwork for an application.

Newcastle is the second most populated metropolitan area in NSW and is just 162km north of Sydney, within the iconic Hunter region. Globally renowned for its coal exportation, Newcastle is a hub for heavy industry and is also a popular tourist destination.

Situated between the Tasman sea and the Hunter river, if you're buying in Newcastle it’s likely that your property will have a glimpse of water.

Mortgage brokers operating in Newcastle

Rates last updated May 28th, 2017
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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

Mortgage broker offices in Newcastle

  • Lake Macquarie Mortgages and Commercial Finance, Newcastle
  • Choice Home loans, Newcastle
  • Margaret Godfrey, Adamstown
  • East Coast Finance Group, Newcastle
  • CVG Finance, Newcastle
  • Smartline Personal Mortgage Advisors, Adamstown
  • Channel Direct Home Loans, Swansea
  • Mortgage Choice, Cardiff and Charlestown
  • Loan Market, Newcastle
  • HLOANS, Newcastle

Buying property in Newcastle

Whether it’s for residential or investment purposes, if you’re thinking of settling down in Newcastle you should consider the following:

  • Infrastructure projects: The NSW government has announced a $11.1 million in funding for the Newcastle Airport expansion as part of the Hunter Infrastructure and Investment Fund. In addition, the NSW government has committed $7 million for the expansion of Neonatal Intensive Care Unit at the John Hunter Children’s Hospital, Newcastle. These infrastructure projects will create jobs and boost economic activity in the region would could have a positive impact on property prices.
  • Property prices: Newcastle property prices for both houses and units have increased dramatically since 2013. This upward trend of property prices may mean that your asset appreciates in value, particularly if you hold on to it for an extended period of time.
  • Flood-prone areas: Due to its geographic position, Newcastle is vulnerable to flooding, particularly in areas near the Hunter River catchment and Lake Macquarie. You may want to consider speaking to the Newcastle council about flood-prone areas or what you can do to protect your property.

What will a typical mortgage cost in Newcastle?

The median property price for a house in Newcastle is $854,000. In theory, if you needed a loan of $854,000, you would need to complete a 20% deposit of $170,800 or a 10% deposit of $85,400.

Conversely, the median price for a unit in Newcastle is $525,000 and thus if you decided to take out a loan for a 2-bedroom unit in Newcastle for this amount, you’d generally need to budget $105,000 for a 20% deposit, or a 10% deposit of $52,500.

How is a mortgage broker paid?

Mortgage brokers receive a commission or fee from lenders, and this compensation will vary depending on the lender as well as the volume of the transaction. The broker generally receives an upfront commission as well as a trailing or ongoing commission.

Learn more about how mortgage brokers are paid

Keep in mind that because most brokers receive commissions, it can lead to a conflict of interest in some cases. For instance, a broker might feel compelled to promote a certain home loan with a lender that offers a handsome commission over irrespective of whether or not this is the best product for your needs.

How do mortgage brokers operate?

Similar to any brokers around Australia, mortgage brokers in Newcastle work with large and small lenders and have access to a large volume of products. Due to their industry relationships, brokers can get competitive rates or more favourable loan terms which can help you find a suitable mortgage.

Learn more about the broker-client process

What are the main suburbs within Newcastle?

Mortgage brokers in Newcastle suburb map

Source: Google Maps

1. Adamstown

Located just 6km from Newcastle’s central business district (CBD), Adamstown has a population of approximately 5,642.

With the Fernleigh Track project underway- a joint venture between Newcastle City Council and Lake Macquarie City Council- Adamstown is connected with sophisticated transport hubs and infrastructure. Featuring several amenities, services and schools such as Kotara High School, St Pius X High School and Belair Primary School, Adamstown has a lot on offer.

With a median house price of $436,250 for a 2-bedroom property and an average price of $361,600 for a 2-bedroom unit, the value of real estate in Adamstown is relatively affordable compared to Newcastle city.

2. Kotara

Situated just 9km from Newcastle’s CBD, Kotara is home to major shopping centres, including Westfield Kotara, and schools such as Kotara High School and St James Primary School. Kotara boasts several attractive amenities and services for its residents.

Kotara’s unemployment rate of 4.1% compares favourably to surrounding suburbs within the Hunter region. In terms of resident behaviour, approximately 43.3% of homes are fully owned, 38.4% of homes are being paid off via finance and 16.7% of homes are rented.

A 3-bedroom house in Kotara is valued at approximately $486,000 on average whereby property prices have seen a 10.06% 12-month growth rate. The gross rental yield is reported at 4.48%.

3. Charlestown

Located roughly 10 km south-west of Newcastle’s CBD, Charlestown has the largest business centre within the Lake Macquarie area. With an abundance of primary and high schools, Charlestown is home to St Joseph’s Convent Primary School and St Mary’s High School, among others.

The median age of a Charlestown resident is 39 years of age and the suburb has recorded an unemployment rate of 4.4%.

Approximately 39.5% of homes are fully owned, 34.2% are in the process of being purchased via finance and 23.6% of homes are rented.

The average mortgage repayment in Charlestown is $1850 per month and the median rent is $290 per week.

4. Newcastle East

At the mouth of the Hunter River, Newcastle East is an inner city suburb of Newcastle which features Nobbys Beach and Newcastle Beach.

In terms of demographics, 22.7% of residents are considered “independent youth”, 18.3% are “maturing independents”, while 13.7% are older couples and families.

With an unemployment rate of 5.3%, this is marginally higher compared to Newcastle East’s surrounding suburbs.

22.5% of homes are fully owned, and 15.1% are in the process of being purchased by home loan mortgage and 59.2% of homes are rented.

The median rent in Newcastle East is $280 per week and the median mortgage repayment is $2375 per month.

5. Merewether

As a central suburb, Merewether spans from Merewether Beach in the East to Adamstown in the West, and is just a stone’s throw from Newcastle’s CBD. Originally part of the Burwood Estate, Merewether was the traditional industry for coal mining.

Home to Merewether Public School, the Junction Public School and many others, Merewether hosts a plethora of schools, amenities, parks and shops.

A 2-bedroom house in Merewether is $670,000 while a 2-bedroom unit would set you back $455,000.

20.0% of residents are older couples and families, 15.7% are independent youth and 14.6% are established couples and families.

Image: Shutterstock

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