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Mortgage Broker Lakemba

Links Property Finance · Home loans in Lakemba and across Sydney: Mortgage Broker in Lakemba

Seven in ten Lakemba homes are apartments and nearly six in ten are rented, with one of the youngest median ages in the area.

Reviewed by Charles Touma Updated 18 October 2026

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Charles Touma, mortgage broker at Links Property Finance

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Saving for a first home in Lakemba: what counts as genuine savings?

Usually 5 per cent of the price built up in your own account over about three months. Some lenders accept 12 months of rent paid through an agent instead, and many drop the requirement once the deposit reaches 10 per cent.

Read more

Lenders read your statements for regular saving and unexplained transfers.

An aerial view of a Sydney suburb
In Lakemba, houses make up 25.5% of homes, terraces and semis 4.1% and apartments 69.8% (ABS Census 2021).

What Lakemba is built of

Seven in ten homes in Lakemba are apartments, nearly three times the share across NSW. Here the building is assessed almost as closely as the borrower, from the strata report to the size of the complex. 58.1% of homes here are rented, against 32.6% across NSW. The suburb suits buyers weighing rentvesting: renting where you live and buying where the numbers work.

  • Postcode2195
  • CouncilCity of Canterbury-Bankstown
  • From the Sydney CBD12 km west south west
69.8%

apartments NSW 21.7%

25.5%

separate houses NSW 65.6%

4.1%

terraces and semis NSW 11.7%

58.1%

rented NSW 32.6%

18.5%

with a mortgage NSW 32.5%

5,861

private dwellings

Source: ABS Census 2021, Suburbs and Localities (SAL12266).

Terrace houses along a tree-lined street

What could a 5% deposit get you in Lakemba?

What could a 5% deposit get you?

$800,000
$40,000 A 20% deposit would be $160,000

No LMI: an estimated $22,800 premium avoided (a broad guide; real premiums vary by lender and loan).

Stamp duty: $0 for eligible NSW first home buyers (saves $30,187).

Indicative only. The deposit excludes stamp duty, legal and inspection costs, and a participating lender, not this calculator, confirms 5% Deposit Scheme eligibility.

Confirm your numbers.

Charles Touma, mortgage broker at Links Property Finance

Real outcomes for real borrowers.

★★★★★
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.
Sandra Google review
★★★★★
Had a great experience with Charles at Links Property Finance. He made the whole home loan process straightforward and easy to understand, kept me updated throughout and was always quick to answer any questions.
Louie Google review
★★★★★
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.
Mikhail Google review

Genuine savings and your deposit in Lakemba

Genuine savings are money you have saved or held yourself over a period, commonly around three months, shown on your bank statements.

Many lenders want a portion of the deposit, often around 5% of the price, to be genuine savings when you borrow with a smaller deposit, because it shows you can manage regular repayments.

A gift from family, a recent lump sum or cash deposited all at once usually does not count as genuine savings by itself, though it can still form part of the deposit.

Some lenders accept a steady rental history in place of genuine savings, and policies differ, so it pays to check before you apply. Genuine savings in detail

A modern apartment building with balconies

Young renters saving in Lakemba

A young couple sitting among moving boxes
  • Links Property Finance is based in Enfield, about ten minutes from Lakemba, with conversations by phone, video or in person.The first one is about how you are saving and when you want to buy.
  • Nearly six in ten Lakemba homes are rented, and seven in ten are apartments.For many renters here, a first apartment nearby is the natural first step.

What do lenders look for in your statements?

A first home buyer working through their numbers at the kitchen table
  • A steady pattern.Regular savings over a period, rather than one large deposit shortly before you apply.
  • A clear source.Every larger amount explained, whether wages, a gift or the sale of something you owned.

Haldon Street, the Cooks River and Lakemba housing

Lakemba lies about twelve kilometres south-west of the city in the City of Canterbury-Bankstown, in the Cooks River watershed. Each year during Ramadan, Haldon Street hosts a night food market that draws visitors from across Sydney.

Canterbury Road runs along the ridge that divides the Cooks River and Wolli Creek catchments, near the shops of Haldon Street, where food from many countries can be found.

  • The area was once called Potato Hill, after the crops grown there, and was known as Belmore South until 1910.
  • When a Lakemba buyer is preparing a deposit, Links compares a panel that includes ANZ, Macquarie, Resimac, Westpac and ING.
Read the full detail

The area was once called Potato Hill, after the crops grown there, and was known as Belmore South until 1910.

The name comes from Benjamin Taylor, who in the 1880s named his property Lakeba after an island in Fiji where his second wife’s grandparents had been missionaries, and nearby Oneata Street is named after another Fijian island. Today apartments make up about seven in ten Lakemba homes.

When a Lakemba buyer is preparing a deposit, Links compares a panel that includes ANZ, Macquarie, Resimac, Westpac and ING.

Example scenario (illustrative, not a real client): a Lakemba renter has saved steadily for two years and recently received a gift from a parent.

Before applying, they gather statements showing the regular savings, have the parent sign a gift letter, and apply with a lender that accepts their savings history and the gift together.

What counts as genuine savings?

Savings built up in a bank account over a period usually count, as do term deposits and shares held for a while. Some lenders also accept equity in property you own, or a consistent rental history.

Money that has only just arrived, such as a gift, a tax refund or a bonus, usually does not count as genuine savings by itself, although it can still be part of the deposit. Check your genuine savings.

A white apartment block in the sun

Cash, gifts and larger amounts

Lenders need to see where the deposit came from. Cash deposited in large amounts, or transfers from overseas, can lead to questions, and money held outside a bank account is hard to verify.

Depositing savings regularly into one account, and keeping records of any gift or sale, makes the source clear. A signed gift letter is the usual way to document family help. Gift letter template.

When rent can help?

Some lenders accept a steady rental history, often around a year of on-time payments through an agent, in place of part or all of the genuine savings requirement. Others require genuine savings regardless.

If you have been renting reliably, your rent ledger can be worth including. Compare renting and buying.

Savings, gift or rent history?

Three parts of a first home deposit, and how lenders see each.

  • Savings. Built up over a period and shown on statements. Usually the core of genuine savings.
  • Gift. Can form part of the deposit. Usually needs a signed gift letter.
  • Rent history. Some lenders accept it in place of genuine savings. On-time payments through an agent help.

What should I check before applying in Lakemba?

The groundwork that helps your deposit count.

  • Regular savingInto one account, over several months.
  • StatementsCovering at least the last three months.
  • Larger amountsRecords for gifts, refunds or sales.
  • A gift letterIf family is helping with the deposit.
  • Your rent ledgerIf you have rented through an agent.
  • Scheme eligibilityWhether the 5% Deposit Scheme fits.

Common questions about buying in Lakemba

What are genuine savings?

Money you have saved or held yourself over a period, commonly around three months, shown on your bank statements. Lenders use it as evidence that you can manage regular repayments.

How much genuine savings do I need?

Often around 5 per cent of the price when you borrow with a smaller deposit, depending on the lender; some relax this with a larger deposit or a good rental history.

Does a gift from my parents count?

As part of your deposit, yes, but usually not as genuine savings by itself. Lenders typically want a signed gift letter confirming it does not need to be repaid.

Can I use cash I have saved at home?

Only once it is in the bank: cash is hard for a lender to verify, so deposit it well before you apply and keep it there to build a history lenders can see.

Can my rent history replace genuine savings?

Sometimes: some lenders accept a steady rental history, often around a year of on-time payments through an agent, instead of genuine savings. Not every lender does, so it depends on where you apply.

Do I need genuine savings under the 5% Deposit Scheme?

Possibly: the scheme sets its own criteria, and participating lenders apply their own policies, which can include genuine savings, so check both before you apply.

Talk to a broker about your Lakemba home loan

Bring your Lakemba plans to a free 30-minute call: your borrowing range, the lenders that fit the property and your next step.

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Charles Touma, mortgage broker at Links Property FinanceCharles calls back within one business day. No documents needed yet.

A family in front of the sold sign at the home they bought together
Charles Touma, mortgage broker at Links Property Finance
Reviewed by Charles Touma Director & Mortgage Broker · MFAA member · Credit Representative 579003 under ACL 389328 About Charles · MFAA register · ASIC register · Complaints processEvery page is reviewed by Charles before it is published and checked against current lender policy and the official scheme pages linked where figures appear.

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.