In most cases, you will find that there are many mortgage brokers trying to win your business. This means that you can take your time and shop around for the perfect one for you.

Ask friends, family, and neighbours if they know of any recommended mortgage brokers, or if they have any recommendations themselves. Alternatively, you could look through a local directory such as Tradebusters Connect and find two or three brokers that look promising. Then meet with each one to find out their experience, expertise, and the type of loans they can offer.

Any trusted mortgage broker that you consider should be accredited under the National Consumer Credit Protection Act, and be a member of the Finance Brokers Association of Australia (FBAA) and/or the Mortgage and Finance Association of Australia (MFAA).

1. Are they independent from all lenders?  Brokerages like Aussie® home loans are 80% owned by the Commonwealth Bank.  Does that give them the freedom to access all lenders, or will they be looking at CBA products primarily?
2. Have they asked you about your personal circumstances? It is really important to be able to trust your broker. If a deal comes across the table at you before you feel that you haven’t explained yourself to them, odds are that the deal may not be ideal for you.
3. With how many lenders are they affiliated with? The bigger the net, the larger the opportunity for a great deal.
4. What other services do they offer? A great brokerage will be able to connect you with other professional services – like accountants, lawyers, insurance brokers, and property managers.
5. How far along the process will they be there for you? Be sure that your mortgage broker commits to acting on your behalf to settlement and beyond.  It is in their interest to look after you and develop loyalty.