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Four things that are different here
Most guidance about Australian home loans is written for the country as a whole, and most of it holds. These four are where Sydney diverges enough to change what you should be asking a broker to plan around.
Auction is the default, and it is unconditional
A large share of Sydney sales go to auction, where the contract is unconditional on the fall of the hammer: no cooling-off, no finance clause, deposit payable on the day. That makes the difference between an online pre-approval estimate and a credit-assessed conditional approval a practical one rather than a technicality — and it is worth asking a broker which one they have obtained for you, in writing.
Apartment size, postcode and building matter
Lenders apply restrictions to smaller apartments, to some high-density postcodes, and to buildings with known defect or remediation histories. These are policy positions that differ between lenders and change; they are also the reason two brokers can give you different answers about the same property without either being wrong.
Strata records are part of the finance question
In a strata purchase the building's financial and repair history affects both the valuation and, in some cases, whether a lender will take the security at all. Strata records are ordered through your conveyancer, and the timing matters — ordering them late is a common source of delay.
Duty and concessions are set by NSW, not nationally
Transfer duty, first home concessions and any surcharge for foreign purchasers are set by Revenue NSW and revised periodically. Advice written for another state can be confidently wrong here, and the amounts involved are usually large enough to change what you can afford.
Where to check the NSW figures
Transfer duty, first home concessions and surcharges for foreign purchasers are administered by Revenue NSW and revised periodically, so the current figures belong at the source rather than on a page like this one.
General information about how mortgage broking works in Australia and what applies in Sydney. Licensing and complaints arrangements are administered by ASIC and AFCA; duty and concessions by Revenue NSW. Each page links to the body that sets the rule. Reviewed 17 August 2026.