Essential Questions to Ask Your Mortgage Broker
- marketing60313
- Aug 30
- 1 min read
Working with a broker is a collaborative process. Before you sign any paperwork, ask these questions to make sure you’re comfortable:
Are you licensed and accredited? All brokers must hold an Australian Credit Licence or be an authorised representative. Moneysmart warns consumers to check ASIC’s registry moneysmart.gov.au.
How many lenders are on your panel? A larger panel means more choice. Ask if the broker specialises in particular types of borrowers or loan products.
How do you get paid? Brokers typically receive an upfront commission and an ongoing “trail” commission from the lender. They must disclose any fees payable by you and whether they receive different amounts from different lenders moneysmart.gov.au.
What documentation do I need? Providing recent payslips, tax returns, bank statements and identification will speed up your loan assessment.
How will you communicate? Decide how often you want updates and whether you prefer email, phone or in‑person meetings.
These questions help set clear expectations and ensure your broker is transparent and aligned with your goals.