Buying your home is as exciting as it is nerve-wracking – considering it is one of the most expensive purchases of your life. It affects your finances, as well as the quality of your life, for years to come. Thankfully, the mortgage market in Australia today is full of affordable home loan options as lenders are at loggerheads to keep their existing customers and attract new ones. Great news for home buyers – because now they can compare several home loan options before choosing one that is most viable financially. In fact, experts believe that the best way to save money on your mortgage is by choosing a deal with the right features at the outset!

5 tips to land a good mortgage broker

But there is a flipside to the above scenario – According to a survey, 37 percent Australians found deciding between too many options to be an impediment to being financially savvy.

Indeed, navigating the mortgage market could be difficult, especially with so many home loan deals on offer. To avoid feeling overwhelmed, why not consult a mortgage broker to help you find an appropriate home loan product?

What is a mortgage broker?

A mortgage broker is a professional, who specialises in helping people find home loans best-suited to their personal requirements. A mortgage broker provides a comprehensive service, starting from assessing your financial affairs to helping you determine the right type of home loan for your situation, preparing and lodging your mortgage application and holding your hand throughout the financing process.

Today, nearly 60 percent home loans in Australia are settled through mortgage brokers. Here’s how to spot a good one:

Licensing – All mortgage brokers must be certified by the Australian Securities and Investments Commission (ASIC) and hold either an Australian Credit Licence (ACL) or be a Credit Representative (CR) of an authorised ACL to provide credit services in Australia. You can check whether the broker is licensed or not by searching ASIC Connect’s Professional Registers or call ASIC’s Infoline on 1300 300 630.

Professional Affiliations – Mortgage brokers are required to be members of a professional industry body such as the Mortgage & Finance Association of Australia (MFAA) or the Finance Brokers Association of Australia (FBAA). It is recommended you check whether your broker belongs to one of these bodies, as their members are required to maintain a strict code of conduct and meet certain educational requirements each year.

Did you know?
A Credit Guide details the range of services offered by a broker, their industry associations, their background, dispute resolution processes, etc. Your mortgage broker must give you their Credit Guide, right at the start, to help you understand the key points about their service.


Communication – Communication is essential to a fruitful relationship between a broker and his or her clients. If you think you are unable to communicate clearly with your broker, or he or she is not very receptive to your queries or is unable to understand your situation clearly – you need to consider whether this is the best choice for assisting with your financing needs.

A good broker will speak with you clearly to understand your financial situation and goals before recommending any home loan options. Besides, they will educate you about the extra features you could opt for in your mortgage deal, such as an offset account, which may assist you to save more money.

Transparency – Mortgage brokers are paid by lenders and generally do not charge their customers any fees. It is very important to work with a mortgage broker that has access to a large range of lenders. That way your broker can compare home loan deals from a variety of lenders before recommending one to you. Certain brokers may charge a fee for complicated cases or the extra services they provide. A professional mortgage broker would ensure that you understand their payment terms before you engage them.

User reviews/recommendations – Most mortgage brokers find work through referrals, and the best ones come highly recommended by their clients. When you are searching for a professional broker, ask your friends and family for recommendations before choosing one. You must also ask the broker for references and speak to them over the phone to know more about their experience with the broker.

At HashChing, we have made it even easier for you to find an ace mortgage broker by creating a network of Australia’s best brokers online. To ensure transparency, each mortgage broker on HashChing must maintain a minimum user rating of 4/5 to continue receiving leads. HashChing broker partners are FREE and you can view their full profile on the platform, complete with a photograph and reviews from real users. You can browse the broker database here or post your home loan queries online to have them answered by our experts. Don’t worry – your information is safe with us. We promise you won’t receive any unwanted calls or emails.

HashChing is Australia’s first borrower-friendly mortgage marketplace that allows users to compare discounted broker-negotiated mortgage rates from over 60 lenders across Australia, online.


By Vidhu Bajaj,
HashChing Content Writer


HashChing is helping Australians by providing access to the pre-negotiated home loan deals. Obligation free consultation with one of our partner brokers might save you time, hassle and money.