More than 80% of home loans go through a broker. If you are buying in Brisbane in 2026, that number should make you stop and think. Choosing a home loan broker in Brisbane can feel like a big decision when you are new to the process. This post walks you through it. You will learn what a broker actually does. You will see how they get paid and why you should ask. We cover ASIC’s 2026 review, published 13 October 2026, and why it matters. You will also get a checklist for what to know before you talk to anyone, plus how to check a broker and questions to ask. Then we compare loans rather than just brokers. We cover first chat to settlement. We also show how the path changes for first home buyers in Brisbane, refinancing or investing.
More than 80% of home loans go through a broker
Half a million dollars. Plenty of Brisbane homes cost about that. Almost nobody takes it on alone.
More than 80% of home loans are now arranged through mortgage brokers, according to ASIC Commissioner Alan Kirkland in a media release published 13 October 2026.
That figure matters. Choosing a broker rather than walking into a branch and asking for a manager is a choice between two normal paths, not between a shortcut and the real thing. It plays a part in keeping the competition alive between lenders.
This guide is for a Brisbane buyer, refinancer or investor deciding how to pick a broker, how they get paid and what to ask before handing over three months of bank statements.
The lender pays the brokerage a commission, so in most cases there’s no broker fee to pay.
Ready? Book a complimentary chat with Time Home Loans.
What a home loan broker actually does
A home loan broker compares loans from several lenders on your behalf, works out which ones you are likely to qualify for and manages the application through to settlement. One person, not four banks.
Think of it as three jobs: work out what you can borrow, shortlist loans that fit and chase the lender while you get on with life.
A broker reads your whole situation, not just your income. Casual work, a recent career change, a forgotten credit card, a gifted deposit or a car loan in your partner’s name can change which lenders will look at you. The role of a mortgage broker is to present that picture properly.
Brokers do not lend money and cannot approve a loan. The lender decides. Your broker explains the options in language you can follow.
At Time Home Loans the process runs from your first conversation through settlement and after it.
How brokers get paid, and why you should ask
Here is the bit nobody puts on a banner. Lenders pay brokerages a commission when your loan settles. MoneySmart notes commission is often paid by the credit provider. Different providers pay different levels and this can potentially influence which loans a broker recommends. Ask. A good broker will answer straight.
Commission usually has two parts: an upfront payment at settlement and a small trailing payment while the loan stays with that lender. Ask if trail applies and how long it lasts.
Headlines about volume-based bonuses? Volume-based and campaign-based payments to brokers have been banned by law since 1 January 2021. Ask how your broker is paid and expect a plain answer.
At Time Home Loans, in most cases there’s no broker fee to pay; the lender pays. Ask better questions rather than distrust brokers.
The best interests duty sits over this. A broker must act in your interests when recommending a loan, so commission is not a reason to recommend a loan that does not suit you.
What ASIC’s 2026 review means for your next loan
On 13 October 2026 ASIC published a review of how brokers handle your interests when recommending a loan. It examined 13 credit licensees across eight large broker groups. Find it in report REP 840.
ASIC found practices generally aligned with its guidance but said brokers and aggregators could strengthen recommendation practices, supervision and complaints handling. Regulated, but not perfect.
The review flagged cases where a broker recommended a loan when a potentially lower-cost option may have been available. A lower rate is not automatically right. Steep break costs can hurt you if plans change. A broker should explain that trade-off. Information is power, so ask for the recommendation in writing and ask what else was considered and why it was set aside. A broker who walks you through the reasoning is doing the job properly. One who cannot is telling you something.
ASIC wants brokers to show a recommendation genuinely served the client, not just completed forms. Hold any broker to that standard, including us.
Know what you want before you talk to anyone
Start with your own numbers.
Write down three things: your deposit, the repayment you can manage each fortnight or month without going backwards, plus how long you expect to keep the property. Each answer changes which loans make sense.
Then gather documents. Photo identification, two recent payslips, three months of statements for every account you hold, your latest credit card and personal loan statements, plus proof of deposit from savings history or a gift letter.
Lenders assess living costs too. A rough fortnightly budget covering groceries, transport, childcare and school fees gives your broker a realistic picture, not a figure you walk back later.
Self-employed? Expect to supply two years of tax returns and notices of assessment. Ask your accountant to prepare them before you look. Waiting on documents is the most common reason an application sits still.
Work out your borrowing power, then inspect. That order saves weekends and stops you chasing houses you cannot reach. First home buyers have their own section further down.
Check how the broker works before you share your details
Next, check the person.
Ask which lenders the brokerage can access. Time Home Loans compares loans from a panel of 50 plus lenders. A broker tied to one group shows you only part of the market.
Ask how the brokerage is paid: upfront commission, trail commission and any fee that could land on you. In most cases there’s no broker fee to pay Time Home Loans. Hear that from the person, not a brochure.
Ask who owns the brokerage and whether it is tied to, owned by or partly funded by a lender. Ownership shapes what gets recommended more than most borrowers realise.
Check the licence and keep the details. Time Home Loans Pty Ltd ABN 53 161 695 012 is Credit Representative 529395 of outsource Financial Pty Ltd, Australian Credit Licence 384324. You can check these details on ASIC’s professional registers.
Ask what happens if something goes wrong after settlement. ASIC said the industry could strengthen complaints handling. Ask how a complaint reaches the brokerage, who reviews it and how long it takes.
Questions to ask a Brisbane broker
Licence confirmed, now the questions that matter.
The search. Which lenders did you look at, and why did you leave the rest off the shortlist? If the answer is vague, ask for it in writing.
The loan. What is the interest rate, and what is the comparison rate? The comparison rate folds in many fees and charges, though not everything, so treat it as one input.
The cost. Upfront fees, ongoing fees, any break costs if I refinance or pay out early? Fixed break costs can be significant and rarely surface until too late.
The fit. How does it behave if I fix the rate, make extra repayments, redraw or sell within three years? Keep asking until you can picture each.
The process. Who keeps me informed between application and settlement, and who do I call at 4pm on a Friday when the lender wants another payslip? Ask for the recommendation in writing so you can read it properly.
Compare the loans, not just the brokers
Two loans can show the same rate and behave nothing alike. Read the fees, the offset account rules, the redraw limits and any cap on extra repayments before you decide.
Say loan A has a slightly lower rate and loan B is 0.10% higher with a full offset account. Keep $30,000 in savings against the balance and B can cost less over a year. Ask your broker to shop around for the right loan and show that on paper.
Match the loan to your plan, not last year’s headlines. If you might sell or refinance within three years, heavy exit costs are a risk worth knowing before you sign.
ASIC’s review flagged cases where a broker recommended a loan when a potentially lower-cost option may have been available. Ask any broker, including us: what else was on the table, and why this one?
The right loan for your neighbour is not automatically right for you.
What happens from first chat to settlement
You have compared the loans. Here is what happens next.
The first conversation covers your income, deposit, plans and anything unusual in your file. Then we tell you plainly what looks realistic and what does not.
Next comes a shortlist with a plain English comparison. If you are ready, we apply for pre-approval. That is not a loan approval and does not lock in a rate.
Once your offer is accepted, we prepare the application, answer the lender’s questions and keep the timeline moving. Time Home Loans offers 7-day finance clauses for buyers. Approval still depends on the lender and your contract.
After settlement we stay contactable. Loans are worth reviewing when rates move, a fixed period ends or your plans change. You are not starting from scratch with a stranger.
If you are buying your first home in Brisbane
First home buyers start with a small deposit and questions. That deposit must cover conveyancing, building and pest inspections and loan fees. Stamp duty treatment changes, so confirm your position with the Queensland Revenue Office rather than a forum.
Ask your broker which government schemes might apply, then check the current rules yourself. Thresholds and eligibility settings get adjusted, and only the government website version counts today.
A parent’s gift is fine with most lenders, but they want a paper trail: a letter confirming it is a gift and does not need repaying, plus evidence it landed in your account and has sat there a while.
A 30-minute chat before you inspect beats a Saturday of open homes. Once you know your borrowing number, you can target suburbs you can afford.
Do not treat pre-approval as a lasting green light. It expires, and your situation or lender policy can change. Tell your broker if you change jobs, take on a car loan or put a big purchase on a credit card.
If you are refinancing or investing instead
If your first home is behind you, the next move looks different. Refinancing means paying out your current loan with a new one, often to change the rate, features, fees or structure. It is not automatic money saving.
Add up the exit costs first: discharge fees, break costs on a fixed loan and any establishment fees on the new loan. If the saving does not clear those costs within a sensible period, staying put can be the better answer.
Ask your broker to put your current loan beside the shortlist, line by line. “My bank offered me a discount” and “the market has moved” are different claims. Both deserve numbers.
Investors, check how each lender treats rental income, interest-only periods and offset accounts, because those details shape what you can borrow next. Speak to your accountant about tax, since we do not give tax advice.
Self-employed? Ask which lenders will read two years of returns or accept an accountant’s letter before you spend a week gathering documents.
What to do next
Before you call anyone, write down your deposit, a comfortable monthly repayment and how long you plan to keep the property. Vague plans get vague loans.
When you are ready, book a complimentary chat with Time Home Loans. In most cases there’s no broker fee to pay.
This article is general information only and does not take into account your objectives, financial situation or needs. Seek advice before acting. Lending criteria, fees and charges apply. Time Home Loans Pty Ltd ABN 53 161 695 012 is Credit Representative 529395 of outsource Financial Pty Ltd, Australian Credit Licence 384324.
