Find a Mortgage Broker in the Gold Coast

Information verified correct on December 8th, 2016

Buy the home of your dreams on the Gold Coast with help from an experienced local mortgage brokerMortgage Brokers Gold Coast

The Gold Coast is the second most highly populated city in Queensland, and the sixth most populated in Australia. This coastal region is home to a number of suburbs, towns, rural districts, beaches and residential canals. As well as a popular holiday destination, it’s also a great place to live and is home to close to 600,000 people.

If you’d like to buy property on the Gold Coast, regardless of whether you want a high-rise apartment or a detached house, finding the right finance is essential. A trusted local mortgage broker can provide the advice and expertise you need to make your property purchase run as smoothly as possible.

Which brokers have offices on the Gold Coast?

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

  • Mr Mortgage
  • Mortgage Choice
  • Loan Market
  • XYZ Finance
  • Ocean Home Loans
  • Betta Choice Homeloans
  • Adventurer Finance Solutions
  • Allied Mortgage

What are the main suburbs on the Gold Coast?

Mortgage Broker Gold Coast

Source: Google Maps

1. Southport

The most populous city on the Gold Coast, Southport sits to the north of the tourist hub that is Surfers Paradise. Well serviced by roads and public transport, it is also the site of the $6.8 million Chinatown Gold Coast development.

Southport has a population of 28,314 and a median weekly household income of $881. The two largest demographic groups are independent youth (21.7%) and maturing and established independence (16.7%).

The median house price is $505,000, annual capital growth is 3.44% and gross rental yield is 4.63%.

2. Surfers Paradise

The Surfers Paradise tourist area draws travellers from around Australia and the world. Famed for its crowds and its high-rise buildings, it features Cavill Mall and the Q1 skyscraper, which was formerly the world’s tallest residential tower.

The population of Surfers Paradise is 19,668 and the median weekly household income is $974. The two largest demographic groups in the area are independent youth and maturing and established independence, which respectively make up 29.4% and 19.5% of the population.

The median house price in Surfers Paradise is $1,205,000, annual capital growth is 0.41% and gross rental yield is 2.58%. In terms of units, the median price is $347,500, annual capital growth is -0.35% and gross rental yield is 5.54%.

3. Robina

Located 16km inland and south from Surfers Paradise, Robina is a planned residential community and one of the Gold Coast’s most populous suburbs. It is home to a shopping centre, a sporting stadium and Bond University.

The population of Robina is 20,522 and the median weekly household income is $1,268. The two largest demographic groups in the suburb are older couples and families (18.5%) and established couples and families (15.7%).

The median house price in Robina is $595,000, annual capital growth is 2.95% and gross rental yield is 4.68%.

4. Upper Coomera

This inland suburb is found 25km northwest of Surfers Paradise. It features eight schools, several shopping centres and is considered to be one of the Gold Coast’s major urban centres.

The median weekly household income in Upper Coomera is $1,513 and the suburb is home to 21,136 people. The two largest demographic groups in the suburb are maturing couples and families (27.3%) and established couples and families (16.7%).

The median house price in Upper Coomera is $429,000, annual capital growth is 2.96% and gross rental yield is 5.21%.

5. Nerang

Located directly inland from Surfers Paradise, Nerang sits on the banks of the Nerang River and is home to 16,256 people. The hinterland suburb also features a train station and several shopping centres.

Older couples and families and established couples and families dominate the area, making up 15.5% and 15.1% respectively of the local population. The median weekly household income in Nerang is $1,007.

The median house price in Nerang is $409,750, annual capital growth is 3.19% and gross rental yield is 5.20%.

Buying property on the Gold Coast

Be sure to consider the following issues if you’re thinking of buying property on the Gold Coast:

  • Infrastructure projects. At the time of writing, more than $13.5 billion worth of infrastructure projects were either planned or underway on the Gold Coast. These include a $200 million development in sporting infrastructure in the lead-up to the 2018 Commonwealth Games, as well as the $365 million development of the Gold Coast Cultural Precinct.
  • Property prices. In the 10 years from 205 to 2015, the median house price in Southport (the Gold Coast’s most populous city) increased from $380,000 to $505,000. In the same period, unit prices rose from $318,500 to $341,500.

Suburb property prices on the Gold Coast

Southport

mortgage brokers gold coast - southport

Source: APM PriceFinder

From 2014 to 2015, Southport’s median house price rose from $472,500 to $504,000.

Surfers Paradise

mortgage brokers gold coast - surfers paradise

Source: APM PriceFinder

While the median house price in Surfers Paradise decreased slightly from $1,200,000 in 2014 to $1,186,500 in 2015, the median price for units (which are by far the most popular form of housing in the suburb) increased from $342,500 to $345,000.

Robina

Mortgage Brokers Gold Coast - Robina

Source: APM PriceFinder

From 2014 to 2015, the median house price in Robina jumped from $525,000 to $598,000.

Upper Coomera

Mortgage brokers Gold Coast - Upper Coomera

Source: APM PriceFinder

From 2014 to 2015, Upper Coomera’s median house price increased from $405,000 to $418,000.

Nerang

Mortgage broker Gold Coast - Nerang

Source: APM PriceFinder

In the period from 2014 to 2015, the median house price in Nerang increased from $386,000 to $412,000.

What will a typical mortgage cost on the Gold Coast?

If you wanted to buy a house in Southport at the median house price of $505,000, you’d need a 20% deposit of $101,000 to qualify for most loans. Borrowing the remaining $404,000 at an interest rate of 4.50% p.a. on a 25-year term would lead to fortnightly repayments of $1,035.85 and a total cost of $673,301.74.

If you wanted to buy a Southport unit at the median price of $329,000, once you fronted up the $65,800 deposit you would need to borrow the remaining $263,200. Borrowing this amount on the above terms would lead to fortnightly repayments of $674.84 and a total cost of $438,646.08.

How is a mortgage broker paid?

The majority of mortgage brokers are paid in commissions from lenders. They receive an upfront commission when you first apply for a mortgage, and a trailing commission each year there is still an amount outstanding on your loan.

Read our explanatory page about how brokers are paid

How does a mortgage broker work?

A mortgage broker has a responsibility under Australian law to help you find a loan that you are able to repay without facing any financial hardship. After meeting with you and taking the time to assess your financial situation and the amount you wish to borrow, a broker can then present you with a choice of suitable loans from their panel of lenders.

Our explanatory page on how brokers work outlines the process

Was this content helpful to you? No  Yes

Related Posts

Ask a Question

You are about to post a question on finder.com.au

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

2 Responses to Find a Mortgage Broker in the Gold Coast

  1. Default Gravatar
    Kane | November 17, 2016

    I’m an NZ citizen and want to buy a house in Robina. Are able to get a mortgage with a 10% deposit? What sort of interest rate and costs could I expect on a house of $600k?

    • Staff
      Anndy | November 17, 2016

      Hi Kane,

      Thanks for your question.

      Generally, New Zealand citizens can borrow up to 95% of the property value, even if they live in New Zealand. This is because Australia and New Zealand share the same credit reporting system, so NZ citizens’ applications will be assessed on their credit history.

      Please note that the percentage available to borrow will depend on the particular loan’s maximum Loan to Valuation Ratio (LVR).

      You can check your home loan options here. Please take advantage of the ‘Advanced Search’ feature so only the loan products with the features you are looking for will be shown in the result.

      You may also get in touch with a mortgage broker by clicking the ‘enquire’ button above as they are able to recommend home loan products while considering your personal circumstances.

      Cheers,
      Anndy

Ask a question
feedback