No—you can go directly to a bank.
But a broker can make the process easier and often give you more options.

What does a broker do?

Compares multiple lenders
Instead of going bank to bank, a broker will assess a range of options and narrow down what actually suits your situation.

Matches you to the right policy
Every lender assesses things differently (income, debts, deposits, etc.). A broker helps place your application where it’s most likely to be approved.

Saves you time and guesswork
We handle the paperwork, back-and-forth with the lender, and keep things moving.

Helps with strategy, not just the rate
This includes structuring your loan correctly, planning for future purchases, or using equity.

Supports you through the process
From pre-approval to settlement and beyond (finance reviews, refinancing, etc.).

When a broker is especially valuable:

• You’re not sure how much you can borrow

• Your situation isn’t straightforward (self-employed, visa, multiple incomes etc.)

• You want to compare options without doing it all yourself

• You want guidance, not just a loan

When you might go direct:

• You’re set on one specific bank and product

• Your situation is very simple and you’re comfortable doing the legwork

You don’t need a broker—but people use one to save time, avoid mistakes, and get the right loan structure, not just a rate.

For most clients, it’s also no direct cost, as the lender pays the broker.

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In Most cases, mortgage brokers are paid by the lender (the bank) once your loan settles.

For around 99% of our clients, we don’t charge a fee. Instead, the lender pays us a commission based on the size of the loan.
Importantly, this is not added to your loan and doesn’t impact what you pay. The Lender pays us.

Are there any fees?

In some cases- usually where the scenario is more complex and requires significant upfront work- we may charge an upfront fee.

If that applies:

• We’ll provide a clear fee quote upfront

• You can choose whether to proceed. No obligation

• Everything is fully explained before any work begins

Full transparency

Regardless of the situation, we clearly outline how we’re paid through:

• Our Privacy & Credit Guide documents

• Any fee quote (if applicable)

• A clear verbal explanation during our discussions

For most clients, you get access to a broker’s expertise at no direct cost. And if a fee ever applies, it’s discussed, agreed to, and documented upfront—no surprises.

As funny as this question sounds, it is often asked!
The simple answer is that most mortgage brokers in Australia are legitimate professionals, but like any industry, quality varies. The key is knowing what to look for.

‍Importantly, brokers are legally required to act in your best interests- not the bank’s.

‍ What to check before you choose a broker:

‍‍Licensing & credentials
They must be licensed (or authorised) under an Australian Credit Licence. You can verify this via ASIC.
Our aggregator is Connective Credit Services PTY LTD (Australia’s Leading aggregator) Their Australian Credit Licence (ACL) number is 389328. Our Credit representative number is 533288.

‍ AFCA membership
They should be a member of Australian Financial Complaints Authority (AFCA), giving you access to independent dispute resolution.

‍Blue Sky Mortgage Solutions holds an AFCA membership (under the name Dean Perry)  

‍We are also members of MFAA ( Mortgage & Finance Association of Australia)

‍ Insurance
Professional indemnity insurance is required to protect clients if advice is incorrect.

‍We hold Professional Indemnity Insurance through our aggregator.

‍ Reviews & reputation
Look for consistent, recent reviews. Focus on service, communication, and outcomes.
Google Reviews Please see our Google Reviews.

‍ Online presence
A credible broker should have a professional website, clear contact details, and some level of educational or social content.

‍ The conversation
A good broker will ask about your goals and explain multiple options clearly. You should never feel pressured.

‍Best Interests Duty (BID)
Brokers must recommend loans that are in your best interests, not based on commission. This is a legal obligation under Australian law. They must also review viable alternatives, affordability, servicing, exit strategy and your individual requirements and objectives.

‍ Audits & oversight
Brokers are regularly audited by their aggregator group and regulated by Australian Securities and Investments Commission (ASIC). This adds an extra layer of accountability.

‍Privacy & compliance documents
You should receive a Credit Guide and Privacy Statement outlining how they operate, how they’re paid, and how your data is handled.
We also have a Privacy Statement on our website.

‍ABN & business legitimacy
Check they have a valid ABN and are a properly registered business. Our ABN is 37629969008

How much can I borrow?

As a very rough guide, most people can borrow around 5 times their annual income.

However, that’s just a starting point—it doesn’t factor in things like:

• Existing debts (credit cards, car loans, HECS)

• Living expenses

• Number of dependants

• Interest rate buffers used by lenders

What can impact your borrowing power?

Your borrowing capacity can vary significantly depending on:

• Your income structure (salary, overtime, bonuses, self-employed)

• Deposit size

• Loan type (e.g. first home buyer schemes or medico-specific loans)

• Credit history

For example, some first home buyer or medico options may allow you to purchase with a smaller deposit, which can change your overall strategy.

The government also have schemes and incentives which may help with savings such as the First Home Super Saver scheme – this allows you to save money within super and withdraw for a deposit on your home.

Want a quick estimate?

We’ve got a borrowing power calculator on our website to give you a fast indication.

If you want an accurate figure and the right strategy behind it, it’s worth contacting us so we can properly assess your situation and run the numbers across multiple lenders.

To get your home loan application underway, we’ll need a few key things to understand your financial position and present it to the lender properly.

At a high level, this includes:

The basics

• Proof of identity (e.g. driver’s licence, passport, Medicare)

• A summary of your income, expenses, assets, and liabilities

• Your employment history (typically the last 2–3 years)

• Signed Privacy Consent so we can act on your behalf

Income documents

If you’re PAYG (employed):

• This will include recent payslips

• Latest tax return or Notice of Assessment

If you’re self-employed:

• Last 2 years’ tax returns

• Financials for your business

• Other requirements will likely be needed

Bank statements & verification

We’ll also ask you to securely link your accounts via Open Banking which helps speed things up and reduces paperwork OR send through bank statements.

Want the full checklist?

We have a detailed document checklist available that covers everything step-by-step—just let us know and we’ll send it through.

All Brokers are different, however we have accreditation with over 50 top Lenders in Australia and are even able to utilise smaller, unique lenders on a case-by-case scenario.

As part of our Best Interest Duty to you, we are required to look at multiple sources to secure the best outcome for you.

Choosing a broker isn’t just about who can get you a loan, it’s about finding someone who gives the right advice and guides you properly.

‍Importantly, brokers are legally required to act in your best interests- not the bank’s.

‍ What to check before you choose a broker:

‍ Best Interests Duty (BID)
Brokers must recommend loans that are in your best interests, not based on commission. This is a legal obligation under Australian law. They must also review viable alternatives, affordability, servicing, exit strategy and your individual requirements and objectives.

‍ Audits & oversight
Brokers are regularly audited by their aggregator group and regulated by Australian Securities and Investments Commission (ASIC). This adds an extra layer of accountability.

‍ Reviews & reputation
Look for consistent, recent reviews. Focus on service, communication, and outcomes.
https://g.co/kgs/4KfRtiW Please see our Google Reviews.

‍ Online presence
A credible broker should have a professional website, clear contact details, and some level of educational or social content.

‍ The conversation
A good broker will ask about your goals and explain multiple options clearly. You should never feel pressured.

‍Licensing & credentials
They must be licensed (or authorised) under an Australian Credit Licence. You can verify this via ASIC.
Our aggregator is Connective Credit Services PTY LTD (Australia’s Leading aggregator) Their Australian Credit Licence (ACL) number is 389328. Our Credit representative number is 533288.

‍ AFCA membership
They should be a member of Australian Financial Complaints Authority (AFCA), giving you access to independent dispute resolution.

‍Blue Sky Mortgage Solutions holds an AFCA membership (under the name Dean Perry)  

‍ We are also members of MFAA ( Mortgage & Finance Association of Australia)

‍ Insurance
Professional indemnity insurance is required to protect clients if advice is incorrect.

‍ We hold Professional Indemnity Insurance through our aggregator.

‍ Privacy & compliance documents
You should receive a Credit Guide and Privacy Statement outlining how they operate, how they’re paid, and how your data is handled.
We also have a Privacy Statement on our website.

‍ABN & business legitimacy
Check they have a valid ABN and are a properly registered business. Our ABN is 37629969008