Six in ten Forest Lodge homes are apartments and six in ten are rented, in a small suburb beside the University of Sydney.
HECS reduces borrowing power through the compulsory repayment, which depends on your income, not the balance. Probation in a first job is accepted by some lenders when you are in your field of study.
A first apartment also needs to clear the lender’s minimum size and building rules.
With 61.6% of dwellings in apartment buildings, strata is a big part of buying in Forest Lodge. That brings the levies, the sinking fund and any defect history into how a lender reads the building. With 61.1% of households renting, Forest Lodge is a tenant market.
The suburb suits buyers weighing rentvesting: renting where you live and buying where the numbers work. Attached homes are a big part of Forest Lodge, at 34.6% against 11.7% statewide.
Older terraces can carry renovation upside that a lender values only once the work is done, which is a timing question.
Separate housesTownhouses and semisApartments
apartments NSW 21.7%
separate houses NSW 65.6%
terraces and semis NSW 11.7%
rented NSW 32.6%
with a mortgage NSW 32.5%
private dwellings
Source: ABS Census 2021, Suburbs and Localities (SAL11549).
Will the rent cover it?
The first question every Sydney investor asks, repayments against rental income, the way a lender sees it.
A gap isn’t a dealbreaker, negative gearing, interest-only periods and offset structure change the cash-flow picture. That’s the conversation.
Estimates only, rates, vacancy, costs and tax change the real picture. Not credit or tax advice.
Confirm your numbers.
Charles looked after us really well and his knowledge gave us the confidence to purchase our property. He wasn’t pushy and always ensured we felt comfortable with the repayments.
Paperwork and finances were never my strong suit. He has made this process as simple and dummy proof for me as humanly possible. This is not the first time I use a mortgage broker, however it was the easiest and most pleasant.
Charles and the team recently assisted us with a refinance of our investment property. Recommend Charles and the team to all
A HECS or HELP debt is not charged interest like a loan, and you do not make compulsory repayments until your income passes the repayment threshold.
Once it does, the repayment comes out of your pay, and lenders usually treat it as a commitment that reduces the income available for a mortgage.
The effect on borrowing power depends on your income and the lender’s method, and the repayment rules themselves change from time to time.
Paying down the balance before applying does not always help as much as expected, because the repayment is set by your income rather than the balance, so it is worth modelling before you decide. HECS and HELP in detail
Charles Touma, Mortgage Broker.
Forest Lodge lies about four kilometres south-west of the city in the City of Sydney, and shares its postcode with Glebe. Ross Street and St Johns Road meet at its centre, where a small group of bars, cafes and antique stores sits.
The University of Sydney is close by, and Glebe Town Hall stands just over the suburb’s eastern boundary.
Lenders generally deduct the compulsory repayment from your income when assessing a loan, which reduces the amount you can borrow. The repayment rises with income, so the effect is larger for higher earners, and the balance itself matters less than the repayment.
Some lenders take a different view when the balance is small and close to being repaid, and policies have shifted in recent years. Comparing how two or three lenders treat your debt is often worthwhile. Check your borrowing power.
Yes, with some lenders, particularly for permanent roles in a field you have studied or worked in before. Others prefer you to finish probation first, and a letter from your employer confirming your salary, role and start date helps.
If you have moved jobs within the same field, lenders often look at your overall history rather than your time in the new role alone. A move into a completely new field is usually assessed more cautiously. How employment is assessed.
A small deposit is usually the hardest part for graduates.
The Australian Government 5% Deposit Scheme may allow an eligible first home purchase with a smaller deposit and no lenders mortgage insurance, provided the price is within the cap, and New South Wales first home buyer duty concessions can reduce the upfront cost too.
Three paths graduates weigh in Forest Lodge, and what each means.
The groundwork for a first purchase early in your career.
No. It reduces how much you can borrow, because lenders count the compulsory repayment as a commitment, but many graduates buy with a study debt. The effect depends on your income and the lender’s method, so it is worth comparing a few lenders.
Not necessarily. The compulsory repayment is based on your income rather than the balance, so paying down part of it may not change your borrowing power much, and it uses savings that could go towards your deposit. Some lenders do treat a nearly repaid balance differently, so model both options before deciding.
From your first pay to a few months, depending on the lender. Some accept a permanent role from the first payslip, others want a few months, and work in the same field while studying often counts.
Yes, if you meet the criteria and the property is within the area’s price cap. The scheme allows a smaller deposit without lenders mortgage insurance, and the lender still assesses your income and study debt as usual.
Usually not, but converted buildings can have unusual strata arrangements, older services and sometimes very small units. Reading the strata report and checking the internal size before you commit helps you avoid surprises.
One free call covers what you could borrow in Forest Lodge, the lenders that suit the property you want and the order to do things in.
Prefer a callback?Charles calls back within one business day. No documents needed yet.
General information only, not credit or financial advice. Lender policies and government scheme criteria differ and change over time. All lending is subject to individual assessment and approval.
