Why choose a broker?

76% of all Australians seeking to arrange finance for a home mortgage now choose a broker, and this market share is growing every year.

Arranging your largest ever financial transaction is a huge undertaking – mortgage brokers help to navigate the complexity and assist you in finding a mortgage that is right for you.

Your broker can give you access to a huge range of lenders, which brings greater competition to the market and ensures choice and convenience in selecting a home loan.

Mortgage brokers have an average 13.8 years industry experience and are required to act in their customers’ best interests at all times. You can have confidence that your mortgage broker will help you to find a loan that meets your needs and requirements.

Arranging your largest ever financial transaction is a huge undertaking – mortgage brokers help to navigate the complexity and assist you in finding a mortgage that is right for you.

Contribution to the Australian economy

The broker industry contributes significant value to the Australian economy including a contribution of $4.1 billion in economic activity and 37,349 jobs.

Brokers provide superior value to consumers: choice, convenience, and access to a range of lenders. Brokers are critical to providing rural and regional customers with access to credit and a range of other financial services.

Due to the competition driven by the mortgage broking industry, value for consumers is increased over time, while prices remain as low as possible for homeowners.

Brokers are subject to an unrivalled higher Best Interests Duty, which means consumers can be assured their broker is acting in their best interests.

How do brokers get paid?

Clients don't pay mortgage brokers commission, lenders do.
When a broker originates a loan for a lender, the lender pays them a commission – a portion or share of the economic value that the lender expects to earn from the loan.
Brokers receive two types of commission:

  • upfront commission: paid on the amount a borrower has drawn on their loan, net of any funds the customer is holding in their offset account.
  • trail commission: paid to a mortgage broker on an ongoing basis for the life of the loan.

Broker commissions are also subject to 'clawback'. This means that lenders will reclaim, or ‘clawback’, upfront commissions if a loan is discharged within 18 months to two years of settlement – that is a mortgage broker will have to ‘pay back’ some, or all of, their commission.

Download our fact sheet

Ready to take the next step?

MFAA-accredited brokers uphold the highest professional standards, ensuring you receive expert guidance, choice, and competitive solutions. 
Find a Broker now
The MFAA acknowledges Traditional Owners of Country throughout Australia and recognises their continuing connection to lands, waters, and communities. We pay our respects to Aboriginal and Torres Strait Islander cultures, and to Elders past and present.
Quicklinks
For assistance
We're here to help!
Join our mailing list for regular Industry updates direct to your inbox.
Create an account
© 2025
 MFAA | Mortgage and Finance Association of Australia
Created with Heartburst

Join us today

You can sign up for free by creating an account. If you are new to the portal, select "Create an account" to register and gain access to a range of free and useful resources.

If you already have an account, simply log in. Once logged in, you can easily apply for membership. If you need assistance, call our support team on 1300 554 817 for assistance.

Create an account
Login to portal