Find a Mortgage Broker in Geelong

Information verified correct on December 4th, 2016

Get the right home loan for your needs with the help of an experienced Geelong mortgage brokerMortgage broker Geelong

With a population of more than 180,000 people, the bustling port city of Geelong is the second largest city in Victoria. Situated on the shores of Corio Bay and the banks of the Barwon River, Geelong is 75km southwest of Melbourne and provides easy access to the state capital and a range of regional centres.

If you need finance to buy a property in Geelong, look for a trusted local mortgage broker in the area. He or she will be able to give you the advice you need to find the right home loan for you.

Which brokers have offices in Geelong?

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

  • Cosimfree Mortgage Brokers
  • Loan Market
  • Geelong Finance Company
  • Smartline Personal Mortgage Advisers
  • Aussiewide Financial Services
  • Konnect Financial Services

What are the main suburbs in Geelong?

Mortgage Broker Geelong - Map

Source: Google Maps

1. Geelong West

This Geelong suburb contains a mix of commercial sites and residential housing, and is home to several heritage-listed sites. It adjoins the main suburb of Geelong and has a population of 6,682 people. The median weekly household income in the suburb is $1,129.

The two largest demographic groups in Geelong West are maturing couples and families (16.2%) and established couples and families (14.8%).

The median house price in Geelong West is $480,000, annual capital growth is 6.80% and gross rental yield is 3.79%.

2. Highton

The residential suburb of Highton sits on the banks of the Barwon River. It is home to several schools, strong transport links and is also the site of the Queens Park Public Golf Course.

Highton’s two largest demographic groups are older couples and families and established couples and families, which respectively comprise 23.7% and 17.4% of the local population of 16,656. The median weekly household income in the suburb is $1,379.

The median sale price of a house in Highton is $510,000, annual capital growth is 5.02% and gross rental yield is 3.77%.

3. Grovedale

A largely residential suburb, Grovedale sits to the south of the Geelong city centre and experienced rapid residential expansion from the 1960s onwards. It was originally named Germantown after being settled by several German families in the 1840s.

Grovedale’s population of 14,153 is dominated by older couples and families and established couples and families, which respectively make up 22.7% and 14.8% of people in the area. The median weekly household income in the suburb is $1,133.

The median house price in Grovedale is $367,000, annual capital growth is 3.97% and gross rental yield is 4.89%.

4. Lara

Located 18km to the northeast of the Geelong CBD, the residential area of Lara is home to three primary schools, a secondary college and a school for international students. It also has a train station offering regular passenger services to Melbourne.

The two largest demographic groups in the suburb are older couples and families (25.1%) and established couples and families (20.9%). Lara’s population is 13,845 and the median weekly household income is $1,399.

Lara’s median house price is $367,000, annual capital growth is 3.80% and gross rental yield is 4.82%.

5. Corio

Combining residential housing with industrial areas, Corio is located 9km to the north of Geelong. It features a railway station and is home to 15,072 people.

The median weekly household income is $842. The two largest demographic groups in Corio are older couples and families (21.3%) and established couples and families (18.9%).

The median house price in Corio is $237,500, annual capital growth is 3.90% and gross rental yield is 5.64%.

Buying property in Geelong

If you’re thinking of buying property in or around Geelong, consider the following:

  • Rental affordability. In November 2015, the Rental Affordability Index listed Geelong as an area with a widespread lack of affordable housing for renters. The quarterly report is created by National Shelter, Community Sector Banking and SGS Economics & Planning.
  • Property prices. In the 10 years from 2005 to 2015, the median house price in Geelong increased from $335,500 to $575,500. The median unit price increased from $347,500 to $451,250 in the same period.

Suburb property prices in Geelong

Geelong West

Mortgage Broker Geelong - Geelong West Chart

Source: APM PriceFinder

From 2014 to 2015, the median house price in Geelong West increased from $461,500 to $482,500.

Highton

Mortgage Broker Geelong - Highton

Source: APM PriceFinder

The median house price in Highton dropped from $510,000 in 2014 to $495,000 in 2015.

Grovedale

Mortgage Broker Geelong - Grovedale

Source: APM PriceFinder

From 2014 to 2015, Grovedale’s median house price increased from $362,000 to $370,000.

Lara

Mortgage Broker Geelong - Lara

Source: APM PriceFinder

In the period from 2014 to 2015, the median house price in Lara increased from $365,000 to $367,000.

Corio

Mortgage Broker Geelong - Corio

Source: APM PriceFinder

From 2014 to 2015, Corio’s median house price decreased from $242,000 to $236,000.

What will a typical mortgage cost in Geelong?

If you wanted to purchase a house in Geelong for the median price of $558,000, in most cases you’d need to provide a 20% deposit of $111,600 to qualify for a loan. If you then borrowed the remaining $446,400 at 4.50% p.a. for 25 years, your fortnightly repayments would be $1,144.56 and the total cost of the loan would be $743,965.09.

Buying a unit at the median price of $475,000 would require a 20% deposit of $95,000. Borrowing the remaining $380,000 through a loan with the above terms would lead to fortnightly repayments of $974.31 and a total loan cost of $633,303.61.

How is a mortgage broker paid?

Most mortgage brokers make money on commissions from lenders for signing you up to a home loan. They receive an upfront commission when you apply and a trailing commission each year that you are still repaying the money you borrow.

Check out our page about the broking process for further details

How does a mortgage broker work?

A mortgage broker must assess your finances and your borrowing needs before matching you with the right home loan. A broker will present you with a choice of appropriate loans from their panel of lenders, and they must declare any commission they stand to receive to you before you apply for a loan.

Our page on mortgage brokers provides further details about how brokers work


Picture: MadAdminSkillz, licensed under Creative Commons Attribution 2.0 Generic (image cropped)

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