Mortgage and Finance Brokers in Joondalup and Perth's Northern Suburbs

Oakwood Finance in Joondalup and the northern suburbs

Perth’s northern suburbs run from the established coast at Hillarys, Whitfords and Ocean Reef, through Joondalup and Wanneroo, to the new coastal estates at Alkimos, Eglinton and Yanchep. Around Joondalup the lending questions are about equity and timing a move; past Mindarie they are about land that is not yet titled.

Oakwood’s Perth office is on Level 28 at 140 St Georges Terrace, where appointments are available for clients in the northern corridor through Joondalup. A Clarkson household with one partner on a swing can meet us in the week they are home. We arrange credit rather than lend it; north of the river the work is matching estate, title date and income to one lender’s policy.

Where we work north of the river

• Joondalup and the established coast: Joondalup, Hillarys, Whitfords, Kingsley, Woodvale, Ocean Reef, Currambine and Iluka, mostly established homes where equity and timing drive the loan.
• Wanneroo and the inland suburbs: Wanneroo, Landsdale, Banksia Grove, Tapping and Carramar, where lot size on the newer estates can narrow the lender field.
• The coastal growth corridor: Mindarie, Clarkson, Butler, Alkimos, Eglinton, Yanchep and Two Rocks, where many contracts are for land in staged releases and the approval has to outlast a title delay.

For the city as a whole, see our Perth page. Fremantle to Baldivis has its own page.

Lending scenarios along the northern corridor

Buying a block in a staged release from Alkimos to Yanchep. New releases are often sold before titles issue, and settlement can be months away. Lenders differ on how long a conditional approval stays valid, so we check the validity period against the estimated title date before you sign. See first home buyers and construction finance.

Roster and site income in Butler, Clarkson and Banksia Grove. One partner on a two-and-one roster and the other part-time around school hours is a common household here. Lenders differ on which allowances they count, how long a casual job must have run, and what happens if the roster changes mid-application. We present the household to the lenders whose policies suit it.

Owning rather than leasing in the Joondalup city centre. Many owner-operators trade from leased shops and offices in Joondalup, the northern suburbs’ commercial centre. Buying the premises raises different questions from an overdraft: commercial lenders generally want a larger deposit than on a home and value a strata office on its rental return. We arrange commercial finance and, where a self-managed super fund is to hold the premises, SMSF lending alongside your accountant and adviser.

A local example

A representative scenario of a kind we see in this market. Details are illustrative and de-identified.

The situation. A couple in Clarkson wanted to buy an established home nearby. One partner worked a fly-in fly-out roster with site and shift allowances making up a large part of their pay.

The complication. Their own bank counted only the base salary and treated the allowances as uncertain, which put the price they wanted out of reach.

What we did. We gathered the roster, an employer letter confirming the allowances as a standing part of the role, and a run of payslips showing them paid consistently, then took the file to a lender whose policy accepts that income once it is evidenced.

The outcome. The lender assessed the allowances as income, approved the home loan and the purchase settled with the couple still living in the northern corridor they knew.

Northern suburbs finance FAQs

Our Eglinton block will not be titled for six months. Can we have finance approved now?

Yes, subject to lender assessment, though the approval has a shelf life. Each lender sets its own validity period, so we match it to the estimated title date and plan for a refresh if that date moves.

What if the title on our Yanchep block is delayed past the expiry of our conditional approval?

The approval does not simply roll over. Lenders handle a lapsed approval differently: some extend it on request, others want a fresh assessment on their current policy with updated income documents and statements. We track the lender’s expiry date against the developer’s title estimate and ask for the extension, or start the refresh, before the approval runs out, so that when the title issues you are not starting the application again.

Selling a 1990s Woodvale home to buy at Hillarys: how much equity will a lender count?

Often less than the asking price suggests. A lender works from its own valuation of the Woodvale home and lends against only part of it, so we have it assessed early and size the Hillarys home loan on figures the lender accepts.

Does a small Banksia Grove or Tapping lot limit our lender choice?

It can. Some lenders have their own rules on small or high-density lots, with a lower lending limit or a different valuation approach, so we check the block against each lender’s policy first.

Start a conversation today

If your Alkimos block is months from title, or you want a lender’s view of a new Yanchep home before you commit, talk to us early. Book a consultation, or Start a conversation and we will come back to you.

Oakwood Finance Pty Ltd is a Credit Representative (561236) of Finsure Finance & Insurance Pty Ltd, Australian Credit Licence 384704. Oakwood arranges credit through its lending partners; all lending is subject to lender assessment and approval.