0480 040 239
Call 0480 040 239

Mortgage Broker in Mortdale

Mortdale combines units close to the station with brick family homes on decent blocks, and it draws first home buyers, families and small developers alike.

LNB Finance arranges home loans in Mortdale, Penshurst and Peakhurst. We compare more than 60 lenders, from first home loans to dual occupancy construction, and in the usual case there is no fee to you.

Mortdale is in the Georges River Council area on the T4 Illawarra line, sharing the 2223 postcode with Oatley. The mix of units near the station and established houses on reasonable blocks makes it a common first step for buyers and a common target for small-scale redevelopment.

First home buyers

A unit or townhouse near the station is often the most realistic first purchase in the area. Work out your total cash need, not just the deposit: stamp duty (or the first home buyer concession), legal fees, inspections and any mortgage insurance. The property purchase costs calculator adds it up, and the 5% Deposit Scheme can remove mortgage insurance for eligible buyers.

Dual occupancy and small developments

Some owners on suitable blocks build a duplex, keeping one half and selling or leasing the other. The finance is different from a standard home loan:

  • Construction lending with progress payments, assessed on the fixed-price contract and plans.
  • End value matters. The lender will want valuations of the completed dwellings.
  • Your exit. If you plan to sell one dwelling, lenders assess how the remaining debt is repaid. If you plan to keep both, they assess whether you can service the full loan.

Larger projects can move into development finance, which is assessed very differently. See construction loans.

Refinancing an established home

Owners who have held for years are often paying more than they need to. A home loan health check compares your rate against what you could get now, and the refinance break-even calculator shows whether switching pays.

Common questions

Yes, for many lenders, provided you have approved plans, a fixed-price building contract and can service the loan. Your plan for the finished dwellings affects how it is assessed.

The deposit plus stamp duty (unless a concession applies), conveyancing, inspections and, with a smaller deposit, possibly mortgage insurance. The purchase costs calculator gives the full figure.

In the usual case no. The lender pays us on settlement, disclosed in our Credit Guide before you apply.

Benjamin Marzouk

Mortgage broker, LNB Finance

Benjamin Marzouk is the broker behind LNB Finance, working with clients across the St George, Bayside and Sutherland Shire areas from Sans Souci, and arranging finance Australia-wide. He compares more than 60 lenders and is not owned by, or aligned to, any bank.

Credit Representative 551447 under Australian Credit Licence 384324, held by Outsource Financial Pty Ltd. LNB Finance Pty Ltd, ABN 83 668 176 083, and is subject to the Best Interests Duty. Both licence numbers are publicly searchable on ASIC Connect. Read our Credit Guide.

Buying, building or refinancing in Mortdale?

One conversation, more than 60 lenders compared, no fee to you in the usual case.

Call 0480 040 239Get assessed

Related

Call 0480 040 239 Get assessed