Mortgage broker Rockdale
Sharing the 2216 postcode.
Mortgage Broker in Brighton-Le-Sands
Brighton-Le-Sands has some property types lenders are cautious about, including serviced apartments and units above shops. Knowing which is which before you bid saves real money.
LNB Finance is a mortgage broker serving Brighton-Le-Sands, Monterey and Kyeemagh. We compare more than 60 lenders and check whether the specific property is acceptable security before you commit, and in the usual case there is no fee to you.
Brighton-Le-Sands runs along The Grand Parade and Lady Robinsons Beach on Botany Bay, with Bay Street's shops and restaurants behind. Much of the housing near the water is apartments, including mixed-use buildings, with houses further back toward Rockdale.
Property types lenders treat differently
Serviced and hotel-style apartments. Units that are part of a hotel or letting pool, or that come with a management agreement restricting your use, are declined by many lenders and accepted by others only with a larger deposit. Check the contract and strata by-laws for any leaseback or management rights before you bid.
Units in mixed-use buildings. Apartments above shops are usually acceptable, but some lenders look at commercial zoning or a high proportion of commercial lots in the scheme and reduce what they will lend.
Small units. Studios and small one-bedroom units can fall below a lender's minimum internal size.
Bay views and valuations
Views add value, but valuers still work from comparable sales. Where a unit's outlook is better than the recent sales in its building, the valuation may not reflect what you agreed to pay. A shortfall has to come from your deposit, or a higher loan-to-value ratio can bring in mortgage insurance.
First home buyers and upgraders
First home buyers often start with a unit here; check the 5% Deposit Scheme and the NSW stamp duty calculator before setting a budget. Families moving to a house nearby usually need to decide whether to buy or sell first; see bridging finance.
Common questions
Some lenders will, usually with a larger deposit and conditions on the management agreement; many will not. Check before you bid, because the answer decides which lenders you can use.
The lender lends against the valuation. You can fund the difference, try a lender whose valuer takes a different view, or renegotiate if the contract allows it.
In the usual case no. The lender pays us on settlement, disclosed in our Credit Guide before you apply.
Buying or refinancing in Brighton-Le-Sands?
One conversation, more than 60 lenders compared, no fee to you in the usual case.
Related
Apartment loans
Why lenders restrict some units.
Mortgage broker Sans Souci
Further along the bay, where we are based.