Learn about mortgage brokers in Australia with Home Loan Finance Online, including what brokers do, how lender panels work, and questions to ask about home loan options, fees and commissions.
What does a mortgage broker do?
A mortgage broker acts as an intermediary between a borrower and a lender. Brokers may explain home loan features, compare loans available through their lender panel and assist with application paperwork. The lender makes the lending decision; using a broker does not guarantee approval.
For first home buyers, homeowners considering refinancing and property investors, understanding a broker's role can help clarify the home loan process. Read more in What does a mortgage broker do in Australia?
Lender panels and home loan comparison
A lender panel is the group of lenders a broker can access. Panels vary and do not necessarily cover every lender or home loan in the market. Ask which lenders a broker considers and whether any relevant options fall outside their panel.
When comparing home loans, consider interest rates, comparison rates, fees, repayment terms and features such as offset accounts or redraw facilities. Borrowers can also approach lenders directly. A direct lender generally discusses its own products, while a broker may consider products from several lenders.
Broker fees and commissions
Mortgage brokers may receive upfront and ongoing commissions from lenders, and some may charge borrowers a fee. Payment arrangements vary. Ask for a clear explanation of any fees, commissions and other benefits, including when a fee is payable and whether it could apply if a loan does not proceed.
Questions to ask a mortgage broker
Which lenders are on your panel, and which have you considered?
How do the loan's rates, fees and features compare with other options considered?
What fees would I pay, and how are you remunerated?
What conditions apply to pre-approval, and what further checks may the lender require?
What is your Australian credit licence or credit representative number?
Consumers can check credit licensing and representative details through the ASIC registers.
Explore home loan information
Browse our home loan articles or use our calculators for estimates based on assumptions, not quotes, offers, approval or eligibility decisions. You can also subscribe to MoneyTips for financial information, news, guides and resources.
This website provides general information and tools, not personalised financial or credit advice. It does not accept home loan applications or borrowing enquiries, refer visitors to brokers or lenders, or select a loan or provider for you.
Follow us!
We are a proud member of the Financial Services Online network!
Connect with us on your favourite social media platform for the latest financial news, views, resources and information.
Refinancing a home loan is a process many Australian homeowners consider at some point. But what exactly does it mean? In simple terms, refinancing involves replacing your existing mortgage with a new one—usually with different terms. Homeowners often look into refinancing for several reasons, whether it’s to secure a lower interest rate, consolidate debts, or switch from a fixed to a variable rate (or vice versa). - read more
For many Australian consumers, buying a property is one of the most significant financial decisions they'll make. Navigating the home loan landscape effectively is crucial to easing the journey toward property ownership. - read more
Low deposit home loans can help eligible Australian borrowers buy with less than a 20% deposit, but lenders mortgage insurance may apply and can add to the cost of borrowing. - read more
A mortgage broker can help Australian borrowers compare home loan options, prepare an application and deal with lenders. This guide explains the broker process, how brokers may be paid, what to prepare and the questions to ask before you proceed. - read more
The Reserve Bank of Australia’s 3 November decision to lift the cash rate target by 25 basis points to 4.85 per cent, effective from 4 November 2026, gives prospective boat buyers a timely reason to revisit their finance assumptions before summer purchase activity intensifies. - read more
The Reserve Bank of Australia’s 3 November decision to lift the cash rate by 25 basis points to 4.85 per cent has quickly shifted from monetary policy headline to household and business budgeting issue. Major lenders have moved to raise variable mortgage rates and savings rates from mid-November, reinforcing that borrowers now need to think less about a single repayment change and more about how much buffer remains in their overall loan commitments. - read more
The Reserve Bank of Australia’s 3 November 2026 decision to lift the cash rate target by 25 basis points to 4.85 per cent gives personal loan borrowers a fresh reason to check the full cost of credit, not just the advertised interest rate. The move follows the RBA’s assessment that inflation is likely to stay elevated for longer than previously expected, keeping pressure on household budgets and lender pricing. - read more
The Reserve Bank of Australia’s November cash rate increase has given caravan buyers another reason to revisit their numbers before committing to a purchase, upgrade or refinance. The Board lifted the cash rate target by 25 basis points to 4.85 per cent on 3 November 2026, with the new setting effective from 4 November, after judging that inflation pressures remained too broad and too persistent. - read more
