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Buying a home in Australia seems to be getting more and more difficult. If you're in New South Wales, specifically in Sydney, you may have noticed the squeeze. And you're not alone. According to data released by the Australian Bureau of Statistics (ABS), the average loan size is a staggering $618,729.
That crunches out to a monthly payment over $3,000 by most metrics. We all want to shave Ghost and Bradman where we can, but with numbers this big, getting a better interest rate could determine whether we can buy a home at all.
To help out, we decided to break down some of the absolute best mortgage brokers in Sydney. A lot of what we looked at had to do with not only customer reviews, but how well these brokers can handle alternative income streams.
In today's age, many of us are working freelance, self-employed, or even getting revenue from crypto or other investments. That makes having a savvy broker paramount.
So let's dive in. We listed these brokers in order, but they're all good - in fact, they're arguably some of the best brokers in Sydney, if not in all of NSW. And be sure to check out our FAQs at the end if you still have questions.
Based right in Potts Point, Shaun Bettman started his company, Principal Mortgages, in 2004. For nearly twenty years he's been leading a team of expert brokers who work tirelessly and efficiently to secure you the best rates and terms.
Not only do Bettman and Co use a network of over 40 lenders to work on underwriting, they also employ an advanced software analysis of those loans and terms to make sure no stone is left unturned. With nearly two-thirds of young Aussies thinking they just cannot buy a home, having an innovative broker like Shaun might be your best bet.
Shaun himself is a Chartered Accountant, and works not only his magic with numbers, but also with the networks he's built over the last two decades. Part of that benefit that you can expect is that Principal Mortgages can help you get loans not readily available to the general public.
Some bullet points that set Shaun Bettman and Principal Mortgages apart:
Shaun Bettman is so confident, and so skilled in accounting and loan calculating, that he offers a free calculator right on his website. You can plug in your numbers before even giving him a call or dropping an inquiry.
With Principal Mortgages, you get not only the experience and expertise of someone like Shaun, but you also get their "outside the box" approach. They'll consider non-traditional lenders on your behalf, and will work with you whatever your income stream.
Principal Mortgages has worked with over 1,000 satisfied customers, securing over $500,000,000 in loans, all based right out of Sydney. Contact them today to see if working with them will be right for you.
Greg Bloom has been with 1st Street Financial for some time now, but his experience in finance and real estate goes back to 2008. He graduated from the University of Witwatersrand and the University of South Africa and immediately moved into an auditing position for a finance firm.
After moving to Australia he opened a brand new office for Yellow Brick Road in Bondi where he oversaw wealth management. Now at 1st Street since 2017, he's been working with individuals to broker mortgage loans and terms that work best for them. The total mortgage market in Australia is around Six-and-a-half Billion Dollars, and it's handy to have someone like Greg Bloom who can leverage that market for you.
When you work with Greg, he brings his wealth of experience to bear on your situation. He's a Chartered Accountant who knows how numbers work-both in the abstract and in the concrete. And he'll work with you, getting to understand your particular situation, so that he make those numbers work for you, too.
Greg really brings a diversity of experience and expertise that we don't see in the professional world too often. He's been building relationships with clients and lenders for over ten years in Sydney, and we highly recommend using his experience to your benefit.
Buying a home can be a highly personal enterprise, and that's why Dana Fraser made our list. After over seven years at the highly respectable Shore Financial Group, Dana struck out and founded her own company, The Lending Club.
Not only does Dana bring all her experience from Shore, she's also on the cutting edge of what the mortgage market has to offer. She was proudly on the leading wave of the Fintech mortgages, even securing one of the first mortgages using the AI platform, which can get results in less than an hour.
Dana now specialises in Self-Managed Super Funds, and has been engaged on the seminar circuit (webinar due to the pandemic). She has partnered with a growing network of self-directed investors like the folks at the Buyers Club to offer her expertise to individuals looking to not only invest in residence property, but to invest for wealth growth, as well.
There's definitely something to be said for the respect of one's peers, and Justin Doobov has it. In fact, he was given the 2021 Best Broker Award by MPA Magazine, Australia. He's been the Managing Director at Intelligent Finance since 2003, and he's spent the better part of that time cultivating relationships with his clients.
As of 2021, Intelligent Finance has over $400 million in residential loans, from over 600 clients. That's a lot of happy customers, and it also means that over almost 20 years, Justin Doobov has figured out a thing or two about helping people over some pretty diverse economic seasons.
According to an interview he did for MPA Magazine, his focus isn't on the "no" he might hear from a lender or underwriter. He's more concerned with what he can get for you, and how to bridge whatever gaps may occur between what the bank is ready to give and what you really need.
But it's not all about money. Like we said earlier, buying a home is a highly personal experience. And at Intelligent Finance, under Justin they've created some very special experiences for their clients. In fact, they'll even put you in touch with some of their clients so you can speak with them directly, ask them questions, and see what their experiences were like.
Justin Doobov makes the list for his experience, but also his dedication to his clients, which dedication we're sure will show up in your experience with Intelligent Finance, if you go that route.
We've talked about it a few times in this article, but when you're buying a home, especially for the first time, you're putting a lot of yourself out there. Your finances, your future, your dreams. It's nice to know that the people you're working with are putting as much of themselves into it as you are. That's why Christian makes our list.
Christian has been with Shore Financial for six years, and has garnered a number of awards in that time. In addition to that, he started the largest Facebook group for first-time home buyers in Australia, and his LinkedIn profile is the most viewed for mortgage brokers in the whole country.
If you're looking for someone to help you in Sydney, you could do a lot worse than someone recognised all over the country.
Christian's passion is helping people get into their first home, to get away from renting, and to realise the financial rewards that being an owner can bring. He's always working, and tirelessly posting and sharing ways for people to reach their dreams.
Buying a home is a big decision, especially if you're a first time buyer. And the market in Sydney doesn't look like it's slowing down much, if ever. That's why it's more important than ever to find someone who knows the market, knows the lenders, and knows you.
Everyone on this list has the first two boxes checked, and they all have the verve to get that third box checked, too-once you give them a call.
And again, while we did list them in our preferred order, every single broker on this list is a standout in their own right. So, no matter who you go with, you'll be getting one of the best deals in Sydney, if not all of NSW.
Do I need a mortgage broker? Not legally, so to say. You can walk right into the bank and try to negotiate the loan yourself. But that's a little bit like buying a car without a broker, only with much bigger consequences. In fact, we found a great article giving the top five reasons for using a broker, and you can read it here.
Do I need a Sydney-based broker? Yes. The brokers on our list know the ebbs and flows of the Sydney market better than anyone, and certainly better than someone from Perth. Now, to be fair, we wouldn't recommend these five brokers to someone in Perth, either. But if you're buying in or around Sydney, these are your five.
Is now a good time to buy a home? To answer that, you really should drop an inquiry to one of the brokers above. Because your situation is undoubtedly unique, you should consult a broker who gets to know you, and who knows the market.