Mortgage Brokers Sydney

Need to find a mortgage broker in Sydney? Find top-rated MFAA and FBAA approved home loan professionals with Savvy
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, updated on August 7th, 2023       

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Finding the best mortgage brokers is now easier than ever. Savvy partners with licenced, experienced home loan specialists Australia-wide so that homebuyers can get better advice, lower interest rates, and a more convenient mortgage application process. Find out how our brokers can find cheaper, tailored mortgages for you and work harder to help you qualify more quickly.

What can a Sydney mortgage broker do for me?

It’s widely recognised that mortgage brokers have been instrumental in driving down interest rates and creating a more competitive Australian lending environment during the last few decades. Brokers perform several vital functions for both owner-occupiers and investors:

  • Mortgage brokers provide often exclusive access to non-bank lenders who offer cost-effective rates but without overheads like branch networks. They also are accredited with major banks as well. Roughly half of broker-sourced home loans are from the big four banks.
 
  • Mortgage brokers work with a broader spectrum of home loan products and features than a borrower can access when visiting a bank or single lender. 34% of broker-sourced loans are for owner-occupiers, 36% for property investors, 18% were for a mortgage refinance.
 
  • Mortgage brokers work on a commission basis (typically paid by the lender). They only receive part of their commission if a borrower is still satisfied with their loan several years after signing up (trail commission).
 
  • Mortgage brokers offer a comprehensive service that includes finding the best home loan for specific buyers, then preparing and submitting applications, before following up until a successful conclusion. Brokers spend 45% of their time with a client file pre-application and 55% post-application.

How does a mortgage broker work and how do they find my ideal home loan?

Brokers can help every type of Sydney homebuyer find their ideal mortgage solution. They’ll discuss your plans, examine your finances, and then get to work finding the most cost-effective options and features using an extensive panel of lenders. Sydney is one of the most active property markets on earth, attracting a range of homebuyers with different aims and from various backgrounds, such as:

  • Sydney brokers offer a broad range of mortgage refinance options, typically from dozens of different lenders. They implement a full suite of available features to maximise borrower savings.

Can a Sydney broker find me a specialist mortgage?

Where it’s cheaper or necessary, a Sydney broker might turn to a specialist mortgage product to enable a smoother process. They can access a range of consumer-specific solutions, including:

What documents and details does my mortgage broker need to see?

It’ll help your broker find your perfect home loan fit if you can produce the documents your mortgage lender will ultimately use to assess your application. Here’s a breakdown of what that’s likely to include.

Your identification:
Many lenders will need two forms of photo ID, like a driving licence or passport. You can also use a birth or citizenship certificate, a Medicare card, utility bills, bank statements, or a tax notice.

Your income:
You’ll need a few of your most recent payslips. Be sure to include evidence of any regular overtime and bonuses. If you work for yourself, you’ll need your last two tax returns and your most recent notice of assessment. Some lenders may ask to see up-to-date financials for your business.

Your outgoings:
Copies of utility bills and council rates, receipts for your current rent if you’re a tenant, and any other regular expenses that are relevant.

Your assets:
The lender will ask to see the last three months of your bank statements (to verify genuine savings), and you’ll need to show statements for any shares you own, plus details of your superannuation. If you own a car, boat, and for your house contents, the lender will ask to see insurance certificates to gauge values.

Your debts:
The lender will ask to see statements for any store or credit cards, plus other finance like personal loans and car loans. If you already own a property, you’ll need to produce the last three months of mortgage statements for that. You’ll also need these if you’re applying for home loan refinance.

Your home:
If you’ve already found your new place, the lender will need to see a contract of sale and the title for the property.

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