How brokers are paid
Straight answer: usually by the lender.
For most home loans the lender you choose pays us, not you. It generally comes in two parts:
- Upfront commission
- A one-off payment when your loan settles — typically around 0.5–0.7% of the amount borrowed, less any money sitting in an offset account.
- Trail commission
- A smaller ongoing payment — typically around 0.1–0.2% a year of what you still owe. It stops when the loan is repaid or refinanced.
Rates differ between lenders, which is why brokers must act in your best interests: commission can’t be the reason for a recommendation. Before you apply you’ll get our credit guide and a written proposal showing what the lender would pay us on your loan.
General information only. Typical industry ranges, not a statement of this business’s rates.
Illustrative example · $600,000 loan
You pay us$0for a standard home loan*
Upfront≈$3,600one-off · 0.6%
Trail, yr 1≈$9000.15% of balance
Trail by year, falling as the balance does
*If a fee ever applies — say, for complex lending — you’ll see it in writing before anything goes ahead. Figures assume 6.09% over 30 years and are illustrative, not a quote.