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Home Buying Basics

Mortgage Broker

A licensed professional comparing 45+ lenders on your behalf. Free to you.

What is Mortgage Broker?

A mortgage broker is a licensed professional who works with multiple lenders on your behalf — comparing products, advising on structure, preparing the application, and managing it through to settlement. In Australia, brokers arrange roughly 70% of all home loans.

Why it matters for you

Brokers are generally free to you — paid by the lender whose loan you choose. Under NCCP law, brokers have a best interests duty to the borrower. The best brokers add value through credit policy expertise, lender relationships, and ongoing review (annual refinance checks, rate renegotiations).

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Related terms

A broker operating under someone else's credit licence — Australia's standard structure.

Legal & Process

Australia's federal consumer credit law — sets the best-interests duty.

Legal & Process

Every lender's internal rulebook — and why answers differ lender to lender.

Legal & Process
Last updated: April 2026