Choice mortgage broker

Choice is now part of Loan Market Group (LMG). Here's what changed and how a mortgage broker can still help.

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Richard Whitten

Updated

Fact checked

Key takeaways

  • Choice is now part of Loan Market Group (LMG), which bought it from NAB in 2021 and has since retired the Choice brand.
  • Brokers can help find tailored home loans for complex situations like self-employment.
  • Most mortgage brokers are paid a commission by the lender, so many don't charge you a fee. Ask your broker about any fees before you start.
Choice, also known as Choice Aggregation Services, was an Australian mortgage broker group whose brokers could also offer its own ChoiceLend home loans. Choice is now part of Loan Market Group (LMG), which has retired the Choice brand, and the old ChoiceLend website now redirects to LMG.

Can I still use a Choice broker?

Choice no longer operates as a separate brand. Its aggregation business is now part of LMG, so brokers who stayed with the group work under the LMG banner and use LMG's lender panel. You can also compare other mortgage brokers on Finder.

Choice profile

  • NAB sold Choice, along with the PLAN Australia and FAST aggregation groups, to Loan Market Group. The sale was completed in early 2021.
  • In 2023, Loan Market Group announced it would retire the Choice, PLAN Australia and FAST brands and bring them together under the LMG banner. Loan Market remains the group's consumer broking brand (read our Loan Market review).
  • Choice's own home loans were sold as ChoiceLend loans. The choicelend.com.au website now redirects to LMG, so if you have a ChoiceLend loan, check your loan documents or contact your broker for help with it.

Do mortgage brokers charge a fee?

Most mortgage brokers are paid a commission by the lender you choose, so many don't charge you for their services. Ask your broker about any fees before you start.

How can a mortgage broker help me?

Mortgage brokers can help you navigate the often-confusing home loan market to help you find the best deal. They're familiar with a variety of lenders and their policies and they can help identify which is the best fit for your specific circumstances.

Mortgage brokers are licensed to provide personal advice to borrowers. They can provide guidance, whether you're looking for a straightforward home loan for purchase or refinancing, or you have a more complex situation requiring a product like a bridging loan or a low doc home loan.

For people with unique needs, such as sole traders, self-employed business people or pensioners looking for a mortgage, a broker can help you find highly specific and specialised products.

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Senior Money Editor
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Richard Whitten is Finder’s Senior Money Editor, with over eight years of experience in home loans, property, credit cards and personal finance. His insights appear in top media outlets like Yahoo Finance, Money Magazine, and the Herald Sun, and he frequently offers expert commentary on television and radio, helping Australians navigate mortgages and property ownership. Richard started his career in education and textbook publishing in South Korea. He holds multiple industry certifications, including a Certificate IV in Mortgage Broking (RG 206) and Tier 1 and Tier 2 certifications (RG 146), as well as a Bachelor of Education from the University of Sydney and a Graduate Certificate in Communications from Deakin University. See full bio

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Richard has written 764 Finder guides across topics including:
  • Home loans
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2 Responses

    Janine's avatar
    JanineAugust 4, 2017

    Are you able to pay off a fixed loan of two years, eighteen months early? What type of costs would be involved?

      Rench's avatarFinder
      RenchAugust 4, 2017Finder

      Hi Janine,

      Thanks for reaching out to us. Please note that we are not affiliated with ChoiceLend or any company we feature on our site and so we can only offer you general advice.

      If you are referring to ChoiceLend, you may contact them directly and inquire about their loans.

      Please use our personal loan calculator to have an idea on how much you can borrow and how much the repayments will be.

      Hope this helps.

      Cheers,
      Rench

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