Home Loan Broker Commission – What You Need to Know

How Australian brokers get paid?

Mortgage brokers in Australia are generally paid by the lender, not the borrower. This means you can access expert guidance without paying upfront. Broker commission usually has two parts:

• Upfront commission: Paid once the loan settles.

• Trail commission: A smaller ongoing payment for providing ongoing support.

Because most lenders offer similar commission rates, brokers can focus on finding the right loan, not the highest payout. HeyNest connects you with independent brokers who clearly disclose how they’re paid.

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Does commission affect broker advice?

Australian brokers must follow Best Interests Duty (BID), a legal requirement forcing them to act in your best financial interest. This overrides any commission incentive. Why you can trust the process:

• Commissions must be disclosed upfront

• Wide lender panels allow objective loan comparison

• Reputable networks avoid bias from volume-based rewards

HeyNest works only with brokers who prioritise transparency and unbiased recommendations.

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Access to many lenders

Compares and negotiates the best market rates for you.

Dedicated, personalized guide every step of the way.

Only offers their own limited products.

Standard, often non-negotiable in-house rates.

Standardized service; often no single dedicated contact.

Do I pay my broker directly?

In most situations, no. Brokers are paid by the lender once your loan is settled and there should be no separate fee for standard home loans.

• A fee may apply only for rare, complex cases where a lender doesn’t pay commission and it must be fully disclosed before proceeding.

With HeyNest, you’re connected to expert brokers whose services are typically covered by the lender, so you get professional advice without added upfront costs.

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Frequently asked questions

Is the broker commission included in my loan repayments?

No. The commission is paid directly by the lender as an operating expense; it does not typically appear as a separate line item added to your loan amount or repayments.

Are all Australian lender commissions the same?

While competitive forces have led to similar ranges, there can be minor differences. Transparency requires the broker to disclose the exact rate for your chosen loan.

Can I negotiate the home loan broker commission?

No, the commission is a set arrangement between the broker and the lender. You negotiate the loan interest rate and fees with the lender, which is the broker's primary job for you.