If you’re talking to a mortgage broker for the first time, it can feel like stepping into unknown territory. They know the system inside out, but you want to make sure you’re getting the right deal for your situation. You can ask a few well-choosen questions from a home loan broker in Australia and can make all the difference.

Which Lenders Are You Connected To?

Not every broker works with every bank. Some have access to a broad panel, others just a handful. Asking this upfront gives you a sense of whether you’re really seeing the full market or just a slice of it.

How Do You Get Paid?

Most brokers earn a commission from the bank once your loan is settled. That usually means you don’t pay them directly. Still, it’s fair to ask if there are any extra fees on your side. Better to clear that up before you get too far along.

Can You Explain the Loan Features, Not Just the Rate?

It’s easy to focus on interest rates — everyone does — but features like offset accounts or redraw facilities can matter just as much. Ask your broker which of these could actually help you, rather than just looking good on paper.

What’s a Sensible Borrowing Limit for Me?

Yes, a broker can tell you your maximum borrowing power. But it’s just as important to ask: what’s comfortable? What’s realistic if interest rates shift a bit? That’s where a broker’s advice can save you headaches down the track.

What Extra Costs Should I Expect?

Stamp duty, lender fees, maybe LMI if you’re not eligible for a waiver. These can add up quickly. A good broker should map these out so there are no nasty surprises on settlement day.

How Long Will This All Take?

Some banks move faster than others. If you’ve found a property and need quick approval, timing matters. Ask your home mortgage what the average turnaround looks like with the lenders they recommend.

Will You Stay Involved After Settlement?

Some brokers keep checking in, reviewing your loan every year or two. Others disappear once the deal is done. Neither approach is wrong, but it helps to know what to expect.

Conclusion

A broker can open doors you might not even know exist, but it’s up to you to ask the right questions. Think of it less as an interview and more as a partnership. The clearer you are on their role, the easier it is to feel confident that the loan you walk away with is truly the right fit.