For first-time buyers, choosing the right mortgage broker is just as important as choosing the right property. Asking the right questions early helps you understand the process, avoid surprises and secure the most suitable deal.
Why choosing the right mortgage broker matters
A broker does more than source rates. They interpret lender criteria, structure applications correctly and guide you through one of the largest financial commitments you’ll ever make.
Are you whole-of-market?
This is one of the most important questions to ask. A whole-of-market broker can access a wide range of lenders, rather than being limited to a panel.
How do you get paid?
Transparency matters. Some brokers charge a fee, others receive commission from lenders, and some use a combination of both. Understanding this upfront builds trust.
What deposit will I realistically need?
Rather than focusing on minimum figures, a good broker explains:
- What deposit you can use
- How it affects rates
- Whether waiting could improve affordability
Which lenders suit my situation best?
Every lender assesses income, credit and affordability differently. A broker should explain why a lender is suitable — not just recommend one.
What could cause my application to be declined?
This question helps identify risks before you apply, protecting your credit file and confidence.
FAQs
Should I speak to a broker before viewing properties?
Yes. Early advice strengthens your position and avoids wasted time.
Is using a broker more expensive?
Not necessarily — the right advice often saves money long-term.