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What happens when using a mortgage broker?

The first step involves talking with a broker about your lending needs.

A good mortgage broker will have the experience to know all the right questions to ask you, in order to gain an understanding of your needs, and the sorts of products that would be a good fit for you.

A good mortgage broker also has a thorough understanding of exactly what lenders look for to approve finance for a home purchase, and will ensure they obtain all of this information to proceed with your loan application.

Once you and the mortgage broker agree on a lender, the broker can assist you every step of the way, including:

  • collating and submitting the loan application and supplementary paperwork on your behalf
  • liaising with your lender on any questions they may have about your financials
  • negotiating a great interest rate for you
  • liaising with the lender, property valuer and solicitors
  • ensuring settlement is ultimately a smooth and stress free process
  • Keeping you informed every step of the way about where your loan application is up to


Is it complicated to arrange a home loan?

If using the services of a mortgage broker, the complication of dealing with a lender is removed, as it is the job of the mortgage broker to arrange all of the details for you. A good broker has all the necessary experience to negotiate through the lending maze, and work with a customer every step of the way. This allows the customer to focus on the exciting parts of property purchase, instead of getting bogged down in paperwork.

We can review more loans in a few minutes than you can review in a month!

At Energise Home Loans, we have over 17 years or senior banking and lending experience, and use this to determine the best lender and the best home loan product from 13 lenders. Use our expertise to have complete piece of mind that you are matched to the best possible loan to suit your individual needs.

What does it cost to use the services of a Mortgage Broker?

In almost all circumstances, using the services of a Mortgage Broker are completely free? “But how can that be?” we hear you ask. Well, a Mortgage Broker receives a payment from the lender that they place a loan with. As using a Mortgage Broker to arrange a loan costs a lender a lot less than employing their own staff, the lenders are happy to pay a small fee to Mortgage Brokers to outsource this work. The great news for customers is that they get the benefit of expert advice and experience from a Mortgage Broker, without any cost to them. On the contrary, a mortgage broker can often negotiate a cheaper rate than a customer dealing with a lender directly.

Is the advice from a Mortgage Broker completely independent?

Yes. Each lender pays virtually the same level of payment for placing a loan with them. A Mortgage Broker’s interest is in finding the best deal and the most suitable loan to meet their customer’s needs.

What Questions Should I Ask a Mortgage Broker?

With so many home loan options available, and with new loan products being offered by lenders all the time, it is important to ask your mortgage broker some specific questions regarding:

  • which lender you will be using
  • the type of home loan they are suggesting for you
  • how much your loan will cost
  • what percentage of the property value can you borrow
  • whether you will need to pay lender’s mortgage insurance
  • which home loans offer the best variable / fixed interest rate
  • which home loans will suit your individual needs now and in the future


How can I tell if my mortgage broker is qualified and experienced to know what to recommend to me?

All quality mortgage brokers must be a member of the MFAA, which includes following a Code of Practice.

Ask how long your mortgage broker has been working in the industry or what their relevant qualifications are. Experience is extremely valuable in the complex world of lending.


  • L. Evers
    “Cheers Brian Rusten at Energise Home Loans. Guiding us and getting us the best loan package/rates out there!! Thank you mate.” L. Evers
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