Eight out of 10 Australians now choose a mortgage broker over going directly to a bank. Why? Because a broker saves you time and shops around to ensure you secure the right loan product for your unique needs.
But with so many brokers in Australia (there are 22,002 finance and mortgage brokers in Australia, according to the Finance Brokers Association of Australia (FBAA) 2025 Broker Density Report), how do you choose the right broker for you?
Whether you are looking to buy or refinance, here is your guide to finding the perfect mortgage broker to champion your financial goals.
When you speak to a potential broker, here is what you should ask and how a Loan Market broker will answer:
Why you should ask: Lending policies are not standardised across Australian banks. With access to a large lender panel, you are more likely to find a loan product that is right for your unique situation. For self-employed borrowers, contractors, property investors or buyers with variable income, this policy flexibility can potentially mean the difference between a decline and an unconditional approval. A good broker will be upfront about exactly how many lenders are on their panel.
Our brokers have access to a massive panel of over 100 banks and specialty lenders (of which there are 60+ banks and residential home loan lenders) to find the right loan deal for you.
Why you should ask: You need complete transparency around commission and potential broker fees.
Loan Market brokers are paid by the lender you choose (with no additional cost to you*) in the following ways:
Initial payment
When your loan has ‘settled’, the lender will pay the broker an initial payment as a percentage (%) of the ‘net of offset’ (total loan, less any amount in the linked offset account). This percentage varies by lender but generally ranges between 0.60% and 0.75% (includes GST).
Ongoing monthly payments
The selected lender may also pay an ongoing monthly payment (known as trail). This is a percentage (%) calculated and paid on the outstanding balance of your loan at the end of each month. The percentage varies by lender but is typically around 0.15%.
It is important to note a Loan Market broker’s advice is always aligned to your best interests and does not take into consideration any variance of commission between lenders.
Net of offset
Any payment paid by the lender is based on the loan amount minus any money you have in your offset account. This means if you take out a $1 million loan and place $900,000 into your offset account, the broker will receive a commission based on $100,000. If you place the entire loan into the offset account, the broker will not get paid until you use those funds. If you do not use those funds in the first 12 months, the broker will typically not receive any commission in relation to those funds.
Clawback
If the loan is refinanced or paid out within two years of the settlement date, the lender may reclaim these commissions. If this does occur, there is no cost to you.
Why you should ask: Every borrower situation is unique and home loan policies are full of nuances. Your broker needs proven experience handling complex scenarios – such as being self-employed, managing shift work, relying on bonuses or overtime, or navigating unique family circumstances – so you increase your chances of loan approval and secure a structure tailored to your best interests.
Our national network gives Loan Market brokers deep expertise across all types of lending scenarios. As diversified experts, we help with home, personal, vehicle, business and commercial loans. Whatever your goal, your broker knows how to navigate lender policies to secure the right loan for your situation.
Why you should ask: Delays can directly impact your property purchase, cost you money or cause the deal to fall through.
Loan Market brokers work proactively to ensure your application moves as quickly and smoothly as possible. Turnaround times vary depending on the lender, loan type and application complexity. While simpler personal loans may be approved within 24 – 48 hours, complex home loans can take several weeks, particularly during peak periods or public holidays.
Why you should ask: You want to ensure you are partnering with a broker who makes recommendations that are genuinely in your best interest. This means your broker needs to be a long-term life advisor, rather than a broker who just provides a one-off, transactional service.
This is a major differentiator for Loan Market. Our relationship doesn’t end on settlement day; we proactively support your long-term financial wellbeing. We conduct annual rate reviews and will actively renegotiate with your lender on your behalf to ensure your rate stays competitive.
Before partnering with a broker, check their online customer ratings and read recent client reviews. Look for feedback from borrowers with financial goals similar to yours, such as first home buyers, refinancers or property investors. High overall ratings and consistent five-star feedback can give you confidence in their service quality and communication style. See our top-rated Loan Market brokers.
It is also a good idea to visit their professional social media profiles, such as Facebook, Instagram or LinkedIn. This helps you gauge their local community involvement, client outcomes and experience with your specific lending scenario.
Every Loan Market broker meets these stringent regulatory and educational requirements, giving you complete peace of mind.
A Loan Market broker is by your side from start to finish.
They can help you understand your borrowing power, suggest loan products, manage the application process and ensure settlement runs as smoothly as possible. And it doesn’t end there. Your broker can also help you with other loans, including car loans, and check your loan remains competitive over time. This could mean negotiating with your current lender or finding one that is better suited as your circumstances or the market changes.
Whatever your ambition, your Loan Market broker can help make it happen.
Our promises to you
Defend your back pocket
We research over 100 banks and lenders to find a loan solution that’s right for you. Our team then negotiates to secure a competitive deal on your behalf.
Handle the heavy lifting
You do the dreaming; we do the paperwork. Mortgage applications require mountains of documents, but we manage the entire process from shortlist to settlement.
Stay in your corner
Once your loan settles, we keep checking in to ensure your rate remains competitive and your loan continues to work hard for you. Your goals aren’t static, so your loan shouldn’t be either.
The main difference between a Loan Market broker and a Mortgage Choice broker is that Loan Market provides access to over 100 lenders, whereas Mortgage Choice works with a much smaller panel of around 35 lenders (October 2026 data from the Mortgage Choice website). This means a Loan Market broker can run your profile across a much wider panel to find a loan product that is right for your unique situation.
Loan Market works with a panel of over 100 lenders, in comparison to Aussie Home Loans which works with a much smaller panel of over 25 lenders (October 2026 data from the Aussie Home Loans website). A bigger panel means greater choice, so for self-employed borrowers, contractors, property investors or buyers with variable income, this could potentially mean the difference between a decline and an unconditional approval.
Going directly to a bank allows you to negotiate using an existing relationship, but they can only offer their own loan products. On the other hand, working with a Loan Market broker gives you access to a wide range of lenders and tailored advice, saving you time by comparing loans and navigating policy nuances on your behalf.
Use this quick checklist when evaluating your options:
Let us know what your goals are and we will connect you with a Loan Market broker directly.
Find a broker close to you, or set up a video call at a time that suits you.
