Australia has one of the highest home loan costs in the world, making it difficult for the average Australian to buy a home. According to recent statistics, the average home loan size in Australia is $618,729. However, there is hope for Australians looking to purchase their dream homes. Mortgage brokers can help navigate the complex process of obtaining a home loan and finding the right lender.
In this comprehensive guide, we will introduce you to some of the best mortgage brokers in Sydney. We have done our research on dozens of mortgage brokers, considering factors such as client reviews, customer service, professionalism and convenience when finalising our list. Overall, our #1 choice is Shaun Bettman and his company, Principal Mortgages, which has an outstanding Google rating of 5/5 stars from over 100 independent customer reviews!
The Best Mortgage Brokers in Sydney
1. Principal Mortgages and Shaun Bettman
Shaun Bettman is the founder and director of Principal Mortgages, the best mortgage broker in Sydney. With over 15 years of experience in the finance industry, Shaun has helped countless homebuyers achieve their dream of homeownership.
Shaun and his team are dedicated to finding the best home loan for each client. They offer a range of loan options, including fixed-rate loans, variable rate loans, and interest-only loans. Their services extend beyond finding the right loan; they also provide comprehensive financial planning and coaching to ensure clients are in the best financial position to buy a home.
Principal Mortgages has a 99.2% approval rate, making it one of the most successful mortgage broking firms in Australia.
Furthermore, the company enjoys an exceptional reputation on Google with a 5-star rating based on 118 client reviews, which serves as a testament to the quality of their services.
2. Soren Financial and Mansour Soltani
Mansour Soltani of Soren Financial is a distinguished mortgage broker in Sydney, renowned for his expertise in first-home mortgages and advanced refinancing. With access to 45 verified lenders and key industry partnerships, he offers clients a wide array of competitive loan options and superior interest rates.
Soltani's approach is client-centric, evident in Soren Financial's efficient 5-point approval process that prioritises understanding clients' long-term financial goals and providing tailored loan solutions.
His rapid loan approval times, professional qualifications, and commitment to building long-term relationships underscore his reputation as one of the top mortgage brokers in the city.
Accredited under FBAA and licensed as a credit representative, Soltani upholds the highest standards of service, making him a trusted and reliable choice for homebuyers in Sydney.
Soren Financial has an outstanding 5-star rating on Google Reviews, rated by 70 satisfied clients.
Other Notable Mortgage Brokers in Sydney
While Shaun Bettman and Mansour Soltani are some of the best-known mortgage brokers in Sydney, several other professionals excel in the industry. Here are some of the other notable mortgage brokers in Sydney:
3. Justin Doobov, Intelligent Finance
Justin Doobov is a notable mortgage broker in Sydney, and his company, Intelligent Finance, has made a name for itself as one of the top mortgage broking firms in the country. In FY21, Justin set a record on the MPA Top 100 Brokers list, with $423m in home loans written.
Justin and his team at Intelligent Finance are known for their expertise in complex lending situations. They specialise in finding lending solutions for self-employed borrowers, property investors, and individuals with unique financial circumstances. They provide personalised service and advice to ensure clients understand the lending process and are comfortable with their loan terms.
4. Phil Riches, The Lending Manager
Phil has over 10 years of experience in the mortgage broking industry and is known for his ability to find the best loan options for his clients. He specialises in assisting first-home buyers, property investors, and those looking to refinance.
5. Rick Nieuwenhoven, Mortgage Broker Sydney
Rick has over 35 years of experience in the finance industry and has been a mortgage broker for over 20 years. He offers a range of home loan options, including fixed-rate loans, variable rate loans, and low-doc loans.
Refinancing Surge in Sydney
The pandemic caused a significant upheaval in the Australian housing market, leading many homeowners and investors to turn to refinancing to avoid defaulting on their mortgages. As a result, refinancing activity in Sydney surged, with borrowers racing to take advantage of historically low interest rates.
In May 2021, record-breaking home loan values of up to $32.56bn were refinanced, marking a significant surge in demand for refinancing services. Refinancing not only helps borrowers save money on interest rates, but it can also reduce monthly mortgage payments, which can go a long way in helping them avoid defaulting on payments.
However, refinancing is not always the best option, and borrowers must take a comprehensive approach when evaluating their needs. For this reason, seeking advice from a reputable mortgage broker is essential to steer clear of any financial traps and make informed decisions about the best financing options available.
Current State of Housing Loan Commitments
According to the MPA Top Brokerages report, total housing loan commitments in Australia have hovered around the $30bn mark, with lending holding above that level in March and April 2022. However, there have been some noteworthy changes in the types of loans that borrowers are opting for.
Owner-occupier loan commitments have dropped by 12.8% from April 2021 to April 2022, as the Reserve Bank raised interest rates, making homebuyers and investors cautious. In contrast, investment loan commitments have increased by 37.1%. These figures point to a shift in the market, as more investors are putting their money into property, rather than owner-occupied homes.
With the housing market in Australia in a state of flux, it’s crucial to have access to solid financial advice to ensure informed decisions. That is where mortgage brokers come in.
Why Mortgage Brokers are Necessary Today
In today’s housing market, mortgage brokers play a crucial role in helping borrowers navigate complex financial issues related to home loans. With an experienced broker by your side, you can rest assured that you’re getting the best deal on your mortgage.
Mortgage brokers have access to an extensive network of lenders, making it easier for them to negotiate better terms and rates for their clients. They can also assist with loan applications, as well as provide advice on the various financing options available to borrowers.
Benefits of using a mortgage broker for buyers and investors include:
- 1Access to a wide range of lending options.
- 2Expertise in complex financial and lending matters.
- 3Cost savings through lower interest rates and reduced fees.
- 4Greater purchasing power with access to a broad network of lenders.
- 5Save time and effort by not having to negotiate with individual lenders.
Conclusion
Buying or investing in a property in Sydney can be a daunting process, with the average home loan size in the city being over $618,000. Coupled with the recent shift in the market due to the pandemic, it can be challenging to navigate your way through the home loan process alone.
Fortunately, Sydney has some of the best mortgage brokers in the country, such as Shaun Bettman and his company, Principal Mortgages, who have an outstanding 99.2% approval rating. These experts can assist buyers and investors in making informed decisions about home loans and other financing matters.
In conclusion, finding the right mortgage broker in Sydney can make all the difference in your home buying or investment journey. With the right advice, you can save money, time, and effort, while avoiding costly financial pitfalls.