What Does
a Mortgage Broker Do?

In short: a mortgage broker (also called a home loan or finance broker) is a licensed professional who compares home and investment loans across many lenders on your behalf, recommends options suited to your situation, and manages the process from application through to settlement. In Australia, brokers are regulated by ASIC, must hold or operate under an Australian Credit Licence, and are bound by a Best Interests Duty to act in your interest. The rest of this page explains what that looks like in practice.

It starts with
understanding you

A good mortgage broker doesn’t start with products. They start with you. Your situation, your goals, what you’re trying to achieve and what’s standing in the way. Before making any recommendations, your broker will take the time to understand your financial position, your borrowing needs and what the right outcome actually looks like for you.

What does a mortgage
broker do?

A mortgage broker helps you navigate one of the biggest financial decisions you’ll make. They assess your situation, identify the right options from a wide panel of lenders and guide you through the process from application to settlement.

The value of a good broker isn’t just access to more products. It’s having someone who understands how lending decisions connect to the rest of your financial life, and who sits on your side of the table throughout.

How the process works,
step by step:

First conversation – understand your goals, your borrowing needs and your timeline.

Assess your borrowing power – review your income, expenses, deposit and credit position.

Compare the market – weigh options across our lender panel against your situation.

Recommend – talk through the loans that genuinely suit you, and why. Apply and seek pre-approval – prepare and submit your application.

Settlement – manage the process through to your loan settling.

Ongoing reviews – keep an eye on your loan over time and flag when refinancing could help.

What a mortgage broker
can help you with

First home buying Understanding your borrowing power, deposit options and how to navigate the process from application to settlement.

Investment property lending Structuring your investment loan the right way from the start makes a real difference over time.

Refinancing Making sure your existing loan still reflects your current situation and what you need from it now.

Upsizing Working out what you can borrow for the next home and how to make the move without disrupting everything else.

Debt consolidation Bringing what you owe together so your cash flow works harder each month.

SMSF lending Borrowing within a self-managed super fund structure requires specialist knowledge. We help you understand your options and navigate the process.

Mortgage broker vs bank:
what's the difference?

The big difference comes down to choice and duty. A bank can only offer its own products and its staff aren’t required to compare alternatives. A mortgage broker compares loans across many lenders – and, unlike bank staff, is bound by a legal Best Interests Duty to recommend what’s right for you, not what pays the most.

Can a mortgage broker get me
a better rate than the bank?

There’s no guarantee of the lowest possible rate from anyone – but a broker improves your chances by comparing multiple lenders and negotiating pricing on your behalf, rather than relying on a single bank’s offer. Just as important, a good broker looks at the whole loan package – fees, features and flexibility – not just the headline rate, so you don’t end up with a loan that looks cheap but doesn’t suit your plans.

Do I need a mortgage broker,
and how do I choose one?

A broker is especially valuable if your situation isn’t completely standard – self-employed income, a smaller deposit, refinancing, or buying your first home and unsure where to start. It’s worth checking a few things before you commit: that the broker is licensed under an Australian Credit Licence, that they’re a member of an industry body such as the MFAA or FBAA, how many lenders are on their panel, and that they’ll disclose their commissions clearly. Most brokers offer a free, no-obligation first chat, which is a low-cost way to see where you stand.

What happens
at your first meeting

The first conversation is exactly that, a conversation. Your broker will take the time to understand your situation and explain how the process works. You decide whether you feel comfortable. We work out how we can genuinely help. You won’t be asked to sign anything. It’s simply about finding out whether we’re the right fit and what the right lending solution looks like for you.

How are mortgage brokers paid?

Mortgage brokers are paid by lenders, not by you. When a loan settles, the lender pays a commission to your broker. This means there is no direct cost to you for their service. That commission is built into the lender’s cost of doing business – it doesn’t increase the rate or fees you pay compared with going directly to the bank.

The commission amount varies by lender and loan size. Your broker will always disclose the commission they expect to receive before you proceed. You’re entitled to ask and to receive a clear answer.

In some circumstances a fee may apply. If so, this will be disclosed upfront in a Credit Quote before any work begins.

Are mortgage brokers worth it?

Most Australians now use one: brokers arranged around 77% of all new home loans in the most recent quarter. The appeal is simple, access to many more loan options than any single bank, someone to handle the paperwork and negotiation, and an ongoing relationship that keeps your loan under review long after settlement.

How do I know if a mortgage broker is properly qualified?

All mortgage brokers in Australia must hold or operate under an Australian Credit Licence and comply with the National Consumer Credit Protection Act 2009. Many are also members of an industry body such as the Mortgage & Finance Association of Australia (MFAA) or the Finance Brokers Association of Australia (FBAA), and you can verify a broker’s licence through ASIC.

Ready to find out if advice is right for you?

Most people come to us with exactly the questions you have right now. That’s exactly where the conversation starts.

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