Borrow
4 little-known benefits of using a mortgage broker
Mortgages can be confusing at the best of times. Add in a myriad of lenders offering different rates with various benefits, plus an extremely cautious banking system, and it may be easier to get an expert in – so what are the advantages of a broker?
4 little-known benefits of using a mortgage broker
Mortgages can be confusing at the best of times. Add in a myriad of lenders offering different rates with various benefits, plus an extremely cautious banking system, and it may be easier to get an expert in – so what are the advantages of a broker?
Founder and CEO of Melbourne-based mortgage brokerage Blank Financial, Bernard Desmond, considers the use of a mortgage broker as a “no-brainer” for anyone looking to take out a loan.
“If you don’t use a broker, you’re using a bank or a lender. Why will they say that their competition has a better offer?” he queried.
Noting “a lack of knowledge and awareness on how brokers get remunerated” as just one reason why Australians may not consider seeking out a broker, he shared a number of benefits he believes are largely unknown to first-time borrowers or anyone who hasn’t ever used a broker before.
Here are the mortgage broker’s top four reasons why taking the broking route is a good option for anyone looking to take out a loan or refinance an existing loan.
- They are usually free
According to the broker, his most commonly asked question from new clients is: “Who pays you?”
In most cases, Mr Desmond flagged that customers don’t have to pay to avail the services of a mortgage broker.
“We get paid by the successful lender for introducing your business to them. Our professional service to you is free.”
- They are specialists
“It’s not about taking papers and forwarding to the bank,” he explained.
“Good, experienced mortgage brokers are specialists who understand lending policy, product and processes.”
“We are professionals,” he added, noting brokers as professionals who know the mortgage market “inside out”.
From Mr Desmond’s perspective, “a good broker will diagnose your requirement first before prescribing any lender”.
“With a specialist skill set [acquired by] doing hundreds of loans a year, an experienced mortgage broker knows the lending policies inside out and can help you navigate the complex maze of products and policies.”
He said this helps broker clients avoid mistakes, save time and money, and makes the home buying process less stressful.
- They are independent
Mortgage brokers will have the best interests of their client – you – at heart.
“In comparison to mortgage brokers, direct bank sales staff are simply selling you a product. They cannot offer you anything other than [from] the employer they work for,” the broker advised.
While banks sell products, Mr Desmond said brokers do not – “they understand the requirements and then focus on ‘service’ to the client.”
- They are real people
And generally small-business owners!
According to Mr Desmond, people seeking out mortgage brokers can expect an adviser to provide “good old-fashioned customer service where customers are treated as people and not numbers”.
He commented that it’s not a helpline – when you work with a mortgage broker, you won’t be speaking to a different person every time or dealing with a bank branch where staff may rotate through.
Like a “matchmaker”, Mr Desmond said brokers work hard to understand an individual’s requirements and objectives, “and then match you to the right lender”.
RELATED ARTICLES
-
Australia’s credit pivot: Mortgage enquiries hit a three‑year peak as households lean on plastic — what lenders and fintechs must do next
-
Trust is the new yield: Why brokers win when credibility compounds
-
Mortgage Relief Window: How Australia’s Lenders Are Rewiring Risk and Growth at a Three‑Year Lull
About the author
About the author
Loans
Australia’s credit pivot: Mortgage enquiries hit a three‑year peak as households lean on plastic — what lenders and fintechs must do next
Australian home loan interest has rebounded even as households lean harder on cards and personal loans — a classic late‑cycle signal that demands sharper risk, pricing and AI executionRead more
Loans
Trust is the new yield: Why brokers win when credibility compounds
In a market where products look interchangeable, credibility has become the most defensible asset in mortgage broking. With broker channel share hitting record highs and AI reshaping client ...Read more
Loans
Mortgage Relief Window: How Australia’s Lenders Are Rewiring Risk and Growth at a Three‑Year Lull
Australia’s mortgage stress has eased to its lowest level since early 2023, creating a rare—likely brief—window for lenders, brokers and fintechs to reset risk and rebuild growth. This case study ...Read more
Loans
Why ANZ’s tougher stance on company-borrowed home loans matters: A case study in risk recalibration, competition, and what CFOs should do next
ANZ has tightened mortgage credit parameters for loans where a company or trust is the borrower—an apparently narrow policy tweak with wide operational consequences. It signals a broader recalibration ...Read more
Loans
Mortgage 2026: Australia’s share‑of‑wallet war will be won on switching, data rights and AI discipline
The defining feature of Australia’s 2026 mortgage market won’t be house prices; it will be switching velocity. With competition reforms sharpening the Consumer Data Right, lenders and brokers that ...Read more
Loans
Mortgage remorse reshapes the game: Australia's lending squeeze set to redefine banking and household demand
A growing cohort of Australians is rethinking recent home loan decisions as higher repayments collide with household budgets. This isn’t just consumer angst; it’s an economy-wide red flag for lenders, ...Read more
Loans
Aussie mortgage game-changer: Brokers dominate while AI sharpens the edge
Mortgage brokers now originate roughly three in four new Australian home loans, a structural shift that rewires bank economics, product strategy and customer acquisition. MFAA data shows broker market ...Read more
Loans
Fixing the future: How brokers and lenders can turn rate-hike anxiety into strategic advantage
Australian borrowers are leaning into short-term fixed loans as rate uncertainty lingers, shifting risk from households to lenders and their funding partners. That creates a narrow window for broker ...Read more
Loans
Australia’s credit pivot: Mortgage enquiries hit a three‑year peak as households lean on plastic — what lenders and fintechs must do next
Australian home loan interest has rebounded even as households lean harder on cards and personal loans — a classic late‑cycle signal that demands sharper risk, pricing and AI executionRead more
Loans
Trust is the new yield: Why brokers win when credibility compounds
In a market where products look interchangeable, credibility has become the most defensible asset in mortgage broking. With broker channel share hitting record highs and AI reshaping client ...Read more
Loans
Mortgage Relief Window: How Australia’s Lenders Are Rewiring Risk and Growth at a Three‑Year Lull
Australia’s mortgage stress has eased to its lowest level since early 2023, creating a rare—likely brief—window for lenders, brokers and fintechs to reset risk and rebuild growth. This case study ...Read more
Loans
Why ANZ’s tougher stance on company-borrowed home loans matters: A case study in risk recalibration, competition, and what CFOs should do next
ANZ has tightened mortgage credit parameters for loans where a company or trust is the borrower—an apparently narrow policy tweak with wide operational consequences. It signals a broader recalibration ...Read more
Loans
Mortgage 2026: Australia’s share‑of‑wallet war will be won on switching, data rights and AI discipline
The defining feature of Australia’s 2026 mortgage market won’t be house prices; it will be switching velocity. With competition reforms sharpening the Consumer Data Right, lenders and brokers that ...Read more
Loans
Mortgage remorse reshapes the game: Australia's lending squeeze set to redefine banking and household demand
A growing cohort of Australians is rethinking recent home loan decisions as higher repayments collide with household budgets. This isn’t just consumer angst; it’s an economy-wide red flag for lenders, ...Read more
Loans
Aussie mortgage game-changer: Brokers dominate while AI sharpens the edge
Mortgage brokers now originate roughly three in four new Australian home loans, a structural shift that rewires bank economics, product strategy and customer acquisition. MFAA data shows broker market ...Read more
Loans
Fixing the future: How brokers and lenders can turn rate-hike anxiety into strategic advantage
Australian borrowers are leaning into short-term fixed loans as rate uncertainty lingers, shifting risk from households to lenders and their funding partners. That creates a narrow window for broker ...Read more
