Mortgage broker
A licensed credit professional who compares loans from multiple lenders and arranges finance for you.
- Must hold or operate under an Australian Credit Licence
- Must act in your best interests
- Usually paid by lenders, with commissions disclosed
What a broker does
A broker assesses your situation, compares lenders and products, recommends a loan, and manages the application through to settlement.
How brokers are paid
Most brokers receive upfront and trail commissions from lenders. They must disclose these, and by law act in your best interests.
Rothmore does not hold a credit licence and does not give credit advice. We introduce clients to licensed brokers, including our finance partner Lending Capital.
Common questions
Does a broker cost me money?
Usually not directly, as lenders pay commissions. Ask for the broker's credit guide.
Can a broker get me a better rate?
Often, through access to more lenders and knowledge of their policies.
Related terms
Sources
General information only. It does not consider your objectives, financial situation or needs, and is not financial, credit, tax or legal advice. Rules change, so check current law and get advice from a licensed professional before acting.