How to find the best mortgage broker

The easiest way to find the best mortgage broker for you

The best mortgage brokers can turn the task of finding a home loan into a rewarding experience. They'll listen to your requirements, help you decide what features you'd like, and source a number of home loans which would suit you. At all times they'll be available to meet or chat with you about your loan requirements or any questions you have along the way.

Once you've chosen a loan, the best mortgage brokers will make the application process as smooth as possible, helping you complete the application and then lodging the documents on your behalf.

Like any business, mortgage brokers can be range from being experienced, having a large panel of lenders and having great customer service skills, to the opposite. Read on to find out how you can easily find a broker in your local area which will be the best for you. You can also compare national broker networks below.

Mortgage broker comparison

The table below shows a range of mortgage brokers you can enquire with. Click the 'Enquire' button to read a review about a mortgage broker and lodge an enquiry to receive a call back. The call back will be obligation free and won't be recorded on your credit file.

Rates last updated December 16th, 2017
Details Features
Aussie Home Loans
Aussie Home Loans
Aussie is one of Australia's leading financial service providers, having won The Adviser’s Top Mortgage Broker award for the last 3 years. They charge no appointment fees and can meet at a time and place which suits you.
Up to 20 lenders Enquire Now More info
Finsure
Finsure
Finsure has loan offers from over 35 lenders, including major brands, and will work to find a home loan that suits your property needs.
Over 35 lenders Enquire Now More info
eChoice Mortgage Brokers
eChoice Mortgage Brokers
When you do business with eChoice you will be given your own home loan manager to help you select a loan. 25 lenders Enquire Now More info
Pepper Money
Pepper Money
Pepper specialises in providing fair home loans to those who are credit impaired - from small defaults all the way up to discharged bankruptcies.
Credit impaired home loans Enquire Now More info

What is a mortgage broker?

A mortgage broker can work as an individual or as part of a mortgage brokerage company. In either case, the role of a mortgage broker is to help clients narrow down suitable loans after making them aware of their options. Not all mortgage brokers have access to the same number of products, and this is simply because not all lenders make it to the lists of all brokers.

Handshake

Most mortgage brokers don’t charge fees from their customers; they receive payment in the form of fees or commission from lenders.

Once a broker informs you of your alternatives, he or she can negotiate with lenders on your behalf, and this can get you a better interest rate. With access to information you provide, your broker can even complete your home loan application.

What extra services will the best mortgage brokers offer?

The best mortgage brokers will offer a service above and beyond other brokers. This could include:

  • Visiting to your home or office at a convenient time
  • Taking the time to explain options and clarify doubts
  • Helping apply for exemptions and grants
  • Openly disclosing commissions
  • Preventing you from committing common mistakes
  • Offering updates at every step of the way
  • Offering ongoing support in the form of an annual loan review

How to select the best mortgage broker for you

In looking for a suitable mortgage broker know that you can find mortgage brokers who specialise in different areas. If you're looking for a home loan you should look for a broker who specialises in home loans, because brokers who deal in commercial property might not have a comprehensive lender panel for residential home loans. If you suffer from poor credit you can find a mortgage broker who specialises in finding home loans for people with poor credit files.

Essential questions to ask your broker

Mortgage brokers require accreditation from lenders before they start offering their products, and this is another reason why not all brokers have access to the same products. Since no mortgage broker across the country could possibly have access to every single home loan, it’s natural to expect variations when it comes to products they offer. There should be no compromise on the level of service, and this is what you can expect from every good mortgage broker:

  • Help in finding a good loan
  • Calculating exact borrowing and repayments
  • Explaining fees and charges
  • Explaining insurance options
  • Offering tips to save money
  • Answering all your questions

It’s important that you don’t end up making a hasty decision when looking for a home loan, and if you don’t feel comfortable with one mortgage broker, you can always seek advice from another. Don’t overdo it with applying for loans, though, as this can have an adverse effect on your creditworthiness.

Learn more about mortgage brokers

Was this content helpful to you? No  Yes

Related Posts

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, read the PDS or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms and Conditions and Privacy Policy.

2 Responses

  1. Default Gravatar
    MyraJune 29, 2015

    If brokers offer different product how do you know they are offering the right one.

    • Staff
      JodieJune 30, 2015Staff

      Hi Myra,

      Thank you for reaching out to finder.com.au, a financial comparison website.

      Each broker works with an array of lenders and then take your information and compare all the products offered by the lenders they work with to offer you a loan they feel best suits your specific needs. They will always take into account your borrowing needs and your financial situation and will give you an explanation as to why they have selected that particular product for you when they send through their proposal that offers the loan.

      You can view a list of the lenders each broker works with by clicking on their names above in the table which will take you to their specific finder.com.au review pages.

      Regards
      Jodie

Ask a question