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  • Writer's pictureJared Mullane

Top 5 best mortgage brokers in Wollongong

Updated: 2 days ago

Finding the right mortgage broker for your next home loan could save you thousands of dollars if it means you can secure a better deal. We’ve put together a list of five of the best mortgage brokers in Wollongong, each with their own expertise and dedication to making your purchase as easy as possible.


Who are the best mortgage brokers in Wollongong?

A mortgage broker on his laptop in an industrial office setting

Here are five of the best mortgage brokers in Wollongong, based on their service offering, awards, customer ratings and more:

1. Connected Finance

Connected Finance is a leading mortgage brokerage with offices in Wollongong, Shellharbour and Woonona. Its team of home loan experts aims to improve your financial position, potentially saving you thousands of dollars and reducing the duration of your mortgage. Connect Finance has a six-step process from your initial consultation to post-settlement, and uses its expertise and knowledge of the market to find you the best deals.    


Specialises in:



Lender panel: 40+ lenders 


Years in operation: 7+ years


Awards & recognition: 


  • Australian Mortgage Awards 2019 Finalist - Broker of the Year - Regional, George Mihalopoulos 


Google review rating: 5 stars (based on 122 reviews)


Contact:



Business hours: 


  • Mon-Thurs, 9am - 5pm

  • Fri, 9am - 4pm 


Onsite/online appointments: Yes

2. MoneyQuest Wollongong

MoneyQuest Wollongong services the Illawarra region and houses a passionate team of brokers who are committed to securing the best home loans possible for clients. With a variety of specialities, MoneyQuest Wollongong can help a range of borrower types, from first-time buyers to investors and everything in between. MoneyQuest Wollongong is a franchise of the larger MoneyQuest broking group and is led by Dino Di Donato. 


Specialises in:


  • Home loans

  • First home buyer loans

  • Refinancing 

  • Investment loans

  • Debt consolidation loans


Lender panel: 30+ lenders


Years in operation: 5+ years


Awards & recognition:


  • Australian Mortgage Awards 2020 Winner - Brokerage of the Year - Regional

  • Australian Broking Awards 2022 Winner - Boutique Aggregator of the Year (nominated to the wider MoneyQuest group)


Google review rating: 5 stars (based on 81 reviews)


Contact:



Business hours: Mon-Fri, 9am - 5pm


Onsite/online appointments: Yes

3. Loan Market Wollongong - Renee Robins

Renee Robins is the mortgage broker at Loan Market Wollongong, bringing more than 15 years of experience to the region. Loan Market Wollongong is dedicated to simplifying the mortgage process, cutting through the jargon and guiding clients every step of the way. Whether it’s negotiating competitive rates or terms, Loan Market Wollongong claims to sort all the paperwork and help you save.


Specialises in:


  • First home buyer loans

  • Next home loans

  • Refinancing

  • Investment loans

  • Pre-approval


Lender panel: 35+ lenders


Years in operation: 7+ years


Awards & recognition: (nominated to the wider Loan Market group) 


  • Australian Mortgage Awards 2018-21 Winner - Aggregator of the Year (Over 500 Brokers)

  • The Adviser Australian Broking Awards 2019 Winner - Industry Thought Leader of the Year

  • The Adviser Australian Broking Awards 2019 Winner - Technology Platform of the Year

  • The Adviser Australian Broking Awards 2018 Winner - Major Brokerage of the Year - Franchise 

  • The Adviser Top 25 Brokerage 2019 


Google review rating: 5 stars (based on 71 reviews)


Contact:



Business hours: Mon-Fri, 9am - 5pm


Onsite/online appointments: Yes

4. Illawarra Mortgage Brokers

Peter Economos, the senior broker at Illawarra Mortgage Brokers, has been in the industry since 1998 and is dedicated to finding the best lending solutions for his clients. Thanks to its large network of lenders, Illawarra Mortgage Brokers compares hundreds of home loans for a wide range of borrower types.   


Specialises in:


  • First home buyer loans

  • Refinancing

  • Investment loans

  • Split/structured home loans

  • Guarantor home loans


Lender panel: 40+ lenders


Years in operation: 20+ years


Awards & recognition:


  • Connective Excellence Awards 2020 Finalist - Peter Economos


Google review rating: 5 stars (based on 73 reviews)


Contact:



Business hours:


  • Mon-Fri, 9am - 6pm

  • Sat, 9am - 3pm


Onsite/online appointments: Yes

5. Mortgage Broker Group Wollongong

Loren Marsh brings more than 20 years of experience to Wollongong’s Mortgage Broker Group. In her own words, Loren ‘regards her ability to adapt quickly to any situation as keys to her success as a lending specialist’. Mortgage Broker Group Wollongong will manage the entire home-buying process on your behalf, while remaining in contact to keep you informed along the way.


Specialises in:


  • First home buyer loans

  • Refinancing

  • Investment loans

  • Upgrading/downsizing

  • Renovation loans


Lender panel: No details listed


Years in operation: No details listed


Awards & recognition: None listed


Google review rating: 5 stars (based on 59 reviews)


Contact:



Business hours: Mon-Fri, 9am - 5pm


Onsite/online appointments: Yes


How to find the best mortgage brokers in Wollongong

Here are some tips to help you find the best mortgage brokers in Wollongong:


  • Ask for recommendations: Speak with friends, family and colleagues who have recently purchased property in Wollongong. Personal referrals can provide insights into a broker’s service quality and reliability. 

  • Research online reviews: Check online review platforms and local forums for feedback on different mortgage brokers. Look for a broker with consistently high ratings and positive client testimonials. 

  • Verify credentials: Ensure the broker is licensed and a member of professional associations such as the Mortgage & Finance Association of Australia (MFAA) or the Finance Brokers Association of Australia (FBAA). This indicates adherence to industry standards and ethics. 

  • Interview multiple brokers: Set up consultations with several brokers to discuss your needs and assess their knowledge, approach and willingness to assist you. Compare their responses and choose the one that best aligns with your needs.


Ensure your broker understands the Wollongong property market

An aerial view of the Wollongong coastline with houses in the background

Wollongong was recently ranked as regional NSW’s number one property hotspot as reported by The Property Tribune, largely thanks to its increasingly diversified economy. Additionally, the region is particularly attractive to investors, with vacancy rates at record lows. Wollongong and the Illawarra, in general, have also become popular among buyers who have been priced out of the Sydney market.  


Given that Wollongong is only a two-hour drive south of Sydney, it remains highly desirable for homebuyers. With this in mind, your mortgage broker should understand the local market, including the Wollongong suburbs that are in demand as well as the areas that are not. Importantly, they should be able to help you get your finances in order efficiently so you can act fast if the right property comes to the market.


Your broker should also be knowledgeable about property transaction regulations, such as transfer duty rates, as these can impact your borrowing capacity. Furthermore, a good broker will inform you if there are any government grants or incentives available, such as for first home buyers.


5 questions to ask your Wollongong mortgage broker

Here are five questions worth asking mortgage brokers in Wollongong:


  1. What lenders do you work with? Understanding the range of lenders that mortgage brokers work with ensures you’re not limited to a narrow selection. Keep in mind they usually have a pool of lenders they deal with and don’t work with every lender in the market.  

  2. How do you determine the best loan for me? Clarifying the broker’s approach to matching you with a suitable loan ensures they consider your unique circumstances, such as being self-employed or a first home buyer. Keep in mind that brokers must adhere to the ‘Best Interests Duty’, where their recommendations have to be based on your best interests, not which lender pays them the most commission.  

  3. What fees are involved, and how are you paid? Request a transparent breakdown of fees and charges for their services. Most brokers earn a commission from the lender you choose, but in rare cases, may charge an upfront fee. 

  4. Can you explain the interest rates and terms of each mortgage option? A good mortgage broker should be prepared to take the time to explain the nuts and bolts of each option they present to you, rather than just flicking them over in an email for you to decipher. They should explain all the aspects of a home loan, including the interest rate, but also other features like offset accounts and redraw facilities. 

  5. How long does the mortgage approval process typically take? This helps you identify and avoid any unnecessary delays in securing your mortgage.


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Disclaimer: The mortgage brokers presented on this page are based on research carried out by our experts at the time of writing. We are not making a recommendation about any particular brokers. Please use this information as a guide only, and do your own research before engaging with a mortgage broker.

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