Why Use a Mortgage Broker? 10 Reasons to Consider One for Your Home Loan
More Australians are getting their home loan through a mortgage broker than ever before. In the June 2026 quarter, brokers facilitated a record 81.6% of all new residential home loans, according to Cotality data commissioned by the Mortgage & Finance Association of Australia (MFAA).
So what does a broker actually do? A mortgage broker is a licensed credit professional who compares home loans from a panel of lenders, helps you apply, and manages the process through to settlement. Instead of being offered one bank's products, you have someone looking across a range of lenders on your behalf.
Below are 10 reasons it's worth considering a mortgage broker, whether you're buying your first home, investing, refinancing, or dealing with a more complex financial situation.
1. Using a Mortgage Broker Usually Costs You Nothing
For most borrowers, using a mortgage broker comes at no direct cost. Lenders generally pay brokers a commission when a loan settles, made up of an upfront payment and a smaller ongoing payment (often called trail commission). The commission is paid by the lender, not by you.
At Antigona Finance, we don't charge clients a fee for arranging their home loan. Your initial consultation, comparing lenders and preparing your application are all covered by the lender's commission.
There are rare exceptions. If a scenario is especially complex, such as lending across multiple trust entities or a client with significant credit impairment, the extra work involved may mean we charge a service fee. If that applies, you'll know before anything happens:
Disclosed up front: any fee is set out in writing before we provide credit assistance.
Your agreement first: you sign a quote agreeing to the fee before we can proceed or charge it.
Commission is disclosed too: we'll tell you the commission we expect to receive from the lender.
Lenders also have their own costs, such as application, valuation or settlement fees. These are charged by the lender whether you use a broker or not, and we'll walk you through them so there are no surprises.
2. Access to a Wide Panel of Lenders
A bank can only offer you its own products. A broker can compare loans across many lenders. Antigona Finance has access to a panel of more than 50 lenders, including major banks, smaller banks, credit unions and non-bank lenders.
Every lender has its own credit policy, which is the set of internal rules it uses to decide who it will lend to and how much. Two lenders can look at the same application and reach very different outcomes. A wide panel means we can look for a lender whose policy suits your circumstances, rather than trying to make your circumstances fit one lender.
To be clear, no broker has access to every lender in Australia. If you'd like to know which lenders are on our panel, just ask.
3. Lenders That Suit Your Job, Income or Business
Some borrowers are a better fit with particular lenders because of how they earn their income or the work they do. Many people don't know these options exist until a broker points them out. For example:
Self-employed borrowers: lenders differ in how they assess business income, and some offer alt doc loans. These verify income with documents such as BAS statements or an accountant's letter instead of full tax returns.
Certain professions: some lenders waive or discount lenders mortgage insurance (LMI) for eligible professionals, such as some medical, legal and accounting roles. LMI is a one-off premium that usually applies when you borrow more than 80% of a property's value.
Overtime, shift and allowance income: some lenders count more of this income than others, which can change how much you can borrow.
Contractors and casual workers: lender policy on how long you need to have been in your role varies widely.
To learn more about how lenders look at income, read our guide to borrowing power.
4. Support If You've Had Credit Trouble
A past default, missed repayments or a low credit score doesn't always rule out a home loan. Often it means the major banks aren't the right fit, and a specialist or non-bank lender may be worth considering.
These lenders have their own criteria, and the right match depends on what happened, when it happened, and how your finances look today. Loans for credit-impaired borrowers can come with higher interest rates and fees, so it's important to understand the trade-offs and have a plan, such as refinancing once your credit history improves.
This is an area where Antigona Finance regularly helps clients. We take the time to understand your situation, set out the options clearly, and look after you through the whole process.
5. Brokers Must Act in Your Best Interests
Since 1 January 2021, mortgage brokers in Australia have been legally required to act in their clients' best interests when providing credit assistance. This is known as the best interests duty, and it sits under the National Consumer Credit Protection Act.
In practice, a broker must:
Understand your goals and financial situation before recommending a loan.
Explain how a recommended loan works, what it costs and why it suits you.
Put your interests first if they conflict with the broker's own, including how much commission a lender pays.
Brokers must also hold, or work under, an Australian Credit Licence and be a member of the Australian Financial Complaints Authority (AFCA). If something goes wrong, you have access to free, independent dispute resolution.
6. You'd Trust a Professional With Everything Else
Most of us wouldn't fix our own plumbing, diagnose our own health concerns or prepare a complicated tax return without help. We call a plumber, see a doctor and use an accountant, because they do this work every day and know the details we don't.
A home loan is often the largest financial commitment people make. A mortgage broker works with lenders, loan products and credit policies every day, and keeps up with how they change. Having a professional look after something this significant makes sense for the same reason.
7. Less Paperwork and One Point of Contact
Applying for a home loan involves a lot of paperwork, and lenders often come back with extra questions. A broker will:
Tell you which documents you'll need at the start.
Prepare and lodge your application in the format the lender expects.
Follow up with the lender, valuer and your conveyancer or solicitor.
Keep you updated through approval and settlement.
You deal with one person, instead of chasing several lenders yourself.
8. Fewer Unnecessary Applications on Your Credit File
When you formally apply for credit, the lender usually runs a credit check, and that enquiry can be recorded on your credit report. Applying with several lenders one after another can make your file look less favourable to the next lender you approach.
A broker reviews your situation against lender policy before anything is submitted. The aim is to apply with a lender that's a realistic fit from the start, rather than trying several and hoping one says yes.
9. Help With Government Schemes and Grants
Government home buyer schemes change regularly, and the eligibility rules can be detailed. A broker can help you work out which schemes you may qualify for, such as the Australian Government's 5% Deposit Scheme or a state first home owner grant, and which participating lenders could suit you.
For a full rundown, see our first home buyer schemes guide.
10. Support Long After Settlement
A broker relationship doesn't need to end at settlement. Your circumstances change, and so does the lending market. At Antigona Finance, we'll endeavour to keep in touch throughout the life of your loan, review it with you from time to time, and help when you're ready to refinance, renovate, invest or buy your next home.
Talk to Antigona Finance About Your Home Loan
Whether your situation is straightforward or complex, a mortgage broker can compare options across a range of lenders, handle the paperwork and keep you informed from start to finish. At Antigona Finance, we help with the complex loans and make the whole finance process a lot simpler.
Based on the Gold Coast and working with clients across South East Queensland and Australia, we're happy to talk through your goals and the options that may suit you. Book a no-obligation consultation to get started.
Complex problems, solved simply.
Frequently Asked Questions
Do I have to pay a mortgage broker in Australia?
In most cases, no. Most brokers are paid a commission by the lender when your loan settles. Some brokers charge a fee for complex scenarios, but any fee must be disclosed and agreed to in writing before the broker provides credit assistance.
How do mortgage brokers get paid?
Lenders generally pay brokers an upfront commission when a loan settles and a smaller ongoing (trail) commission over the life of the loan. Both are based on the loan amount, and brokers must tell you what commission they expect to receive.
Is it better to use a mortgage broker or go directly to a bank?
It depends on your situation. A bank can only offer its own loans, while a broker can compare loans from a panel of lenders and is legally required to act in your best interests. For self-employed borrowers, people with credit issues, or anyone with a less common situation, comparing lender policy can make a real difference.
Can a mortgage broker get me a lower interest rate?
A broker can compare rates across their panel and, in some cases, ask a lender to review its pricing. The rate you're offered still depends on the lender and your own circumstances, so no broker can promise a particular rate.
Do mortgage brokers have access to every lender?
No. Each broker works with a panel of lenders, which varies from broker to broker. Antigona Finance has access to more than 50 lenders, and you're welcome to ask which lenders are on our panel.
Will speaking to a mortgage broker affect my credit score?
No. An initial conversation with a broker doesn't affect your credit file. A credit check is generally only carried out with your consent, usually when your application is being prepared.
Can a mortgage broker help if I'm self-employed or have bad credit?
Yes. Brokers can look for lenders whose policies suit self-employed income or past credit issues, including alt doc and specialist lenders. These options can come with different rates and fees, which a broker should explain clearly.
This information is general in nature only and does not take into account your personal objectives, financial situation, or needs. It should not be relied upon as personal financial or credit advice, please seek independent professional advice before making a decision based on this information. If you'd like more personalised information about your borrowing potential, reach out to us directly for a free consultation.
Antigona Finance Pty Ltd Corporate Credit Representative 576679 | Australian Credit Licence 384704
