How to get a Home Loan in Annandale?

Learn everything you need to know about applying for a home loan in Annandale with your local Mortgage Choice team.

Richard Ferguson
by Richard Ferguson

Your local Mortgage broker and loan expert from Annandale, NSW.

Article published 08 October 2021

Home Loans in Annandale

If you want to secure your dream home in the leafy inner Sydney suburb of Annandale you need to be ready to buy and ready to act. The wide streets, good schools and access to the city make it one of the tightest held suburbs in the inner city. On average, houses are held for 10 years and so when they do hit the market, they sell quickly.1

If your heart is set on a house, the current median value in Annandale is $1,900,0002 and this poses a barrier to those who may only have a small deposit saved. However, there are still options to consider – for example, the Mortgage Choice team in Annandale can show you how a guarantor can help remove this barrier and still give you a home loan packed with features and at competitive interest rates. Other key features that will help you become debt free faster are having an integrated redraw facility and a loan that permits both variable and fixed interest rates.

In recent years Annandale’s harbour foreshore parks and light rail connections have already seen the redevelopment of the close by Harold Park Paceway into a vibrant living quarter incorporating the Tramsheds dining precinct. 

The revitalising of the Parramatta Road corridor has spawned some exciting new projects and there are currently 5 apartment projects either commenced or in the planning approval stage.3 This is great news for those looking to buy into the area and who prefer apartment living with close proximity to the CBD. The median value for apartments is $841,2504 making it a more affordable option for First Home Buyers and a lifestyle opportunity for downsizers.

How to apply for a home loan in Annandale

The first, and most important, part of the process is to understand your circumstances and what you are trying to achieve in a way that opens the path to selecting the right lender and the right combination of lender products that will suit your immediate requirements and still be relevant for several years to come. 

At Mortgage Choice in Annandale, we do this by collecting some background financial information from you and then scheduling a 45-minute, face to face or online, meeting. We will then provide our written lender recommendations tailored to your individual needs and lifestyle and, if adopted, we will arrange a formal application to be submitted to the selected lender. Our team is here to support you and answer any questions that you may have at each and every stage of the process so that it takes up the least amount of your valuable time. 

Importantly, our extensive industry knowledge allows us to offer solutions to many varied scenarios: 

  • You may need to obtain bridging finance to allow you to buy a new home before you sell your existing one; 
  • We may be able to boost your savings by exploring whether you have a family member who could become your guarantor
  • If you are a First Home Buyer, we will explain each of the government incentive schemes that are available; 
  • You may see investment opportunities in the area and we can structure loans to take maximum advantage of any taxation benefits.

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About Mortgage Choice in Annandale

Mortgage Choice Annandale is owned by Richard Ferguson, who has strong ties to the area having moved to the adjoining suburb of Glebe in 1987. Richard and his wife have raised a family in the local area and still relish in the atmosphere that has made Annandale a vibrant and diverse community with a laid-back urban lifestyle.

Richard and his team are the longest standing Mortgage Choice franchise in Sydney’s Inner West having established the brokerage in 1998, and opening their office in Annandale in 2004. Richard’s team has a Justice of the Peace on staff to help with any documents that require witnessing and frequently assist local residents who need this service. Richard and his team are accredited with more than 25 lenders and are full members of the peak mortgage industry body, the MFAA.



Posted in: Home loans

Richard Ferguson
by Richard Ferguson

Your local Mortgage broker and loan expert from Annandale, NSW.


1 Average length of ownership & Median days on market sourced from Corelogic Suburb Home Value Index dated 01/09/2021
2
 Median Prices sourced from Corelogic Suburb Home Value Index dated 01/09/2021
3
 https://industry.urban.com.au/ as at 22 September 2021
4
 Median Prices sourced from Corelogic Suburb Home Value Index dated 01/09/2021