Choosing the Right Mortgage Broker

Why Your Choice of Broker Matters

A good mortgage broker does more than compare interest rates. The right broker will understand your goals, explain complex products in plain language, and advocate for you with lenders from application through to settlement.

1. Check Experience and Licensing

Ask how long they have been in the industry, what qualifications they hold, and which regulators or industry bodies they are registered with. An experienced, properly licensed broker is more likely to anticipate hurdles before they arise.

2. Understand Their Lender Panel

No broker works with every lender, but they should have access to a broad panel that includes major banks and specialist lenders. Ask which lenders they regularly use and why, and whether they can explain the differences between them for your situation.

3. Ask How They Are Paid

Most brokers are paid by the lender, not by you directly, but it is important to understand whether there are any additional fees. A transparent broker will clearly outline any upfront or ongoing costs and provide this information in writing.

4. Look for Clear Communication

You should feel comfortable asking questions at every stage. Choose a broker who responds promptly, explains options in simple terms, and sets realistic expectations about timing, documentation, and possible outcomes.

5. Assess Their Support After Settlement

The relationship should not end when your loan settles. A strong broker will review your loan regularly, help you understand rate changes, and discuss refinancing opportunities when it makes sense.

By taking the time to ask these questions and compare options, you can partner with a broker who understands your needs and supports your long-term property and financial goals.