If you are applying for a home loan, refinancing, or investing in property, you have likely seen the term mortgage broker come up repeatedly. But what exactly does a mortgage broker do, and is it really better than going directly to your bank?
This guide explains the role of a mortgage broker, how brokers like Azura Financial create better outcomes for borrowers, and why Australians are choosing brokers over banks more than ever before.
What Is A Mortgage Broker?
A mortgage broker is a licensed professional who acts as an intermediary between you and a wide panel of lenders. Instead of going to just one bank, your broker compares home loan products across multiple lenders to find the most suitable solution for your needs.
Unlike a bank representative who works for the lender and can only offer their own products, a broker works for you and is bound by Best Interests Duty to act in your best interests when providing credit assistance.
“A great mortgage broker is not just chasing the lowest rate, they are building a tailored finance strategy that supports your long-term goals. We see clients every week who were offered one-size-fits-all loans by their bank. That approach can cost you tens of thousands over the life of the loan.” – Tom Hawley, Co-Founder, Azura Financial
What Does a Mortgage Broker Actually Do?
A mortgage broker does more than just compare interest rates. At Azura Financial, we provide:
- A detailed analysis of your borrowing power, goals, and financial profile
- Tailored recommendations across more than 60 bank and non-bank lenders
- Strategic loan structuring for features like offset accounts, interest-only, or fixed-variable splits
- Full management of your loan application, documentation, approvals, and settlement
- Annual home loan reviews to ensure you are on the most competitive rate
The Mortgage Broker Process Step by Step
Step one is understanding your financial situation. Your broker will collect your income, assets, liabilities, and goals to calculate your borrowing capacity.
Step two is comparing loan products. A mortgage broker will assess different lenders, interest rates, loan terms, fees, and features to identify the most appropriate product.
Step three is application and approval. Your broker submits the paperwork, deals with lender questions, arranges valuations, and works directly with your solicitor or conveyancer.
Step four is post-settlement support. At Azura, we continue to review your loan over time, helping you refinance or restructure when needed.
Why Use a Mortgage Broker Instead of a Bank?
There are several major reasons to work with a broker:
Greater access to options
Banks offer their own home loans. Brokers compare dozens of options across multiple lenders. This increases your chances of approval and finding a product with better terms.
More strategic structuring
Brokers understand lending strategy — including how to reduce LMI, improve your LVR, and access features like offset accounts. Bank staff often do not.
Better rates through negotiation
Experienced brokers can negotiate with lenders on your behalf, accessing discounted rates and preferential policies not always advertised publicly.
Specialist support for complex income
If you are self-employed, have trust or company income, or want to structure an SMSF or investment loan, brokers have access to lenders who can accommodate these needs.
Save time and reduce stress
Your broker handles the process from start to finish, reducing errors and saving you time, money and effort.
When is a Mortgage Broker Especially Valuable?
- You are a first home buyer and unsure where to start
- You have multiple loans and want to refinance or consolidate
- You are an investor using equity to purchase again
- You are self-employed and need low-document or specialist lending
- You want to avoid paying Lenders Mortgage Insurance by structuring your loan correctly
- You want expert support in negotiating a better rate or navigating rising interest rates
Real Example: Broker vs Bank Outcome
A Sydney client with a $2.4 million investment loan approached their bank for refinancing. They were offered 6.20% and told that was the best available rate.
Azura Financial secured approval with a lender offering 5.75%, waived the annual package fee, and structured the loan using a multi-offset feature to optimise cash flow.
Over the first year alone, the client saved more than $14,800 in interest and fees — all without needing to manage a single phone call to the bank.
Frequently Asked Questions
How do mortgage brokers get paid?
Mortgage brokers are paid by the lender after settlement. There is no cost to the client. At Azura Financial, we are transparent and comply with the Best Interests Duty, which legally requires us to act in your best interest.
Can a mortgage broker help if I have been declined by a bank?
Yes. We work with lenders who specialise in complex scenarios. If you have been declined by one bank, we can often find an alternative path.
Is it better to use a broker or apply directly online?
A broker gives you the benefit of tailored guidance, access to non-advertised rates, and support throughout the process. Online tools can compare rates, but they do not replace the experience and negotiation power of a qualified broker.
Are all brokers the same?
No. Experience, lender access, client service, and strategic advice vary widely. Azura Financial is ranked among the top brokerages in Australia and has over 800 five-star reviews for a reason – we provide superior service, not just product comparisons.
Do brokers only help with home loans?
No. We also broker investment loans, SMSF loans, private and non-bank loans, development and construction loans, equipment and car loans, as well as lending for professional services, and business finance solutions.
Can brokers help after the loan is settled?
Yes. At Azura Financial we pride ourselves on offering long-term support for the life of your loan. We help with ongoing interest rate reviews, negotiating better rates, refinancing, reviewing your structure, and planning your next property purchase.
Why Choose Azura Financial as Your Mortgage Broker?
Azura Financial is one of Australia’s most awarded mortgage broking firms. We specialise in:
- High-value lending for professionals, investors, and homeowners
- Complex lending solutions for trusts, SMSFs, and company structures
- Proactive strategy that evolves with your financial goals
- Six-star service from first contact to long-term loan management
Whether you are buying your first home or your fifth investment property, our brokers will deliver tailored advice with unmatched attention to detail.
Talk to a Mortgage Broker Today
Let us help you find the right loan, structure it properly, and negotiate with confidence.
