Strathfield is a family-home market: larger loans and a lot of buying at auction, where a bid is unconditional. Charles sets the lender and the limit before you raise a hand.
Yes, if a lender has assessed your finance first. An auction bid in Strathfield is unconditional, so the pre-approval has to be lender-assessed, not generated by a form, and the price limit has to come from the lender that reads your income most favourably.
At Strathfield loan sizes the difference between two lenders’ rules on bonus income, rental income, HECS debt and living expenses can be six figures of borrowing power.
With 49.3% of dwellings in apartment buildings, strata is a big part of buying in Strathfield. Here the building is assessed almost as closely as the borrower, from the strata report to the size of the complex.
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 (SAL13690).
NSW first home buyer stamp duty
Assumes an eligible NSW first home buyer purchasing an existing home under the First Home Buyers Assistance Scheme (exempt to $800k, concession to $1m). Indicative only, check Revenue NSW for your exact position.
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Charles and the team recently assisted us with a refinance of our investment property. Recommend Charles and the team to all
Charles and the team recently assisted me with the refinance of my investment property.
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 Touma, Mortgage Broker.
Because small differences compound on a large loan. Finding the one that reads your file best, before you bid, is most of the job.
Bonus and overtime income, rent from an existing property, HECS repayments and the living-expense benchmark are each treated differently from one lender to the next, so two lenders looking at the same household can land a long way apart.
Near Strathfield station the blocks are apartment towers, judged on floor area, the strata report and how much the lender already holds in the complex.
Around Strathfield station, a major interchange with intercity and regional trains and a bus interchange on the town square, the blocks near The Boulevarde, Churchill Avenue and Albert Road are apartment towers, judged on floor area, the strata report and how much the lender already holds in the complex.
A few streets out, large Federation, inter-war and Californian bungalow homes sit on substantial blocks, many inside heritage conservation areas, and are valued on land, condition and any council controls.
Strathfield loans are often large, so a small rate difference is a large dollar figure.
On a $1 million loan, 0.25 per cent is about $2,500 a year in interest at the start of the loan.
Charles compares your current rate across the panel, adds the switching costs, including discharge and registration fees and any fixed-rate break cost, and shows how long the saving takes to cover them.
If your own lender will match a better rate, staying can be the cheaper move. The refinance savings calculator gives a first estimate, and the refinancing guide covers the rest.
Firm on you, conditional on the property. A lender-assessed pre-approval tests your income and debts; formal approval still needs the lender’s valuation of the home you win. Bid inside the figure with a buffer, and have the building report and contract checked before the day.
Rarely the loan itself. Lenders value a heritage home on its land and condition like any other house; the controls affect what you can build or change later, which matters if a renovation or extension is part of the plan. Read the planning certificate before you offer.
The lender lends against its valuation, so the shortfall comes from your deposit. On a larger Strathfield purchase that can be a significant sum, which is why the bid limit carries a buffer and why the lender is chosen for its valuers as well as its rates.
Yes. A family guarantee uses equity in their home as security for part of your loan, which can remove the need for a cash deposit and for lenders mortgage insurance. The guarantee can be released once your loan sits under about 80 per cent of the property value, when you apply and the lender approves, usually after a fresh valuation.
For most Strathfield family homes, yes, at the standard NSW rate, because prices sit above the first home buyer thresholds of $800,000 for an exemption and $1 million for a concession.
Eligible first home buyers purchasing an apartment under those figures can still qualify. The calculator gives an estimate for your price.
One free call covers what you could borrow in Strathfield, 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.
