Questions to ask a mortgage broker to make sure they're working for you

Best interests duty means a broker is legally required to recommend what suits you, not whichever lender pays them the most. That’s a good baseline, but a short conversation can tell you a lot more than the regulation alone about whether a particular broker is the right fit. Below are the questions worth asking before you commit, whichever broker you’re considering.

Questions about how they work

• How many lenders are on your panel, and how many did you actually compare for my situation? A broker might have access to twenty lenders but only seriously consider three or four that suit your profile. That’s fine, as long as they can explain the shortlist.
• Why this lender, specifically, for me? Listen for a reason tied to your situation, like serviceability, deposit size, or property type, rather than a general answer about it being a popular choice.
• How are you paid on this loan? Most brokers are paid by the lender rather than by you, but it’s worth confirming directly and asking whether any fee could apply in your case.
• What happens if my application gets declined? A good broker has a plan B before you apply, not just after a rejection.

Questions about communication

• How will you update me, and how often? Slow or absent communication is one of the most common complaints in broker reviews generally, so setting expectations early is worth doing.
• Who do I contact if you’re unavailable? Useful to know before you need it, particularly close to settlement.
• Can you put your recommendation in writing? A written summary of why a lender and loan structure suit you gives you something to refer back to and compare against other options.

Questions that reveal red flags

Question	What a good answer sounds like	What’s a warning sign
How are you paid?	Clear, specific, mentions commission or fee upfront	Vague, deflects, or gets defensive
Why this lender?	Reasons tied to your income, deposit, or property	Generic “they’re a good lender” answer
What’s your licence number?	Provided readily	Hesitation or refusal
What are the total costs of this loan?	A specific breakdown	Only the headline rate, nothing else

Questions worth asking about the loan itself

• What’s the comparison rate, not just the advertised interest rate? The comparison rate folds in most fees, which makes it a more honest way to weigh up two loans against each other.
• Are there any features I’m paying for that I won’t actually use? Offset accounts and redraw facilities are useful for some borrowers and irrelevant to others, and a loan with extra features often costs more.
• What happens at the end of any fixed or introductory rate period? Knowing this in advance means you’re not caught off guard by a rate change later.

Trust your read on the conversation, not only the answers

Content aside, pay attention to how the conversation feels. Reviewers consistently rate brokers highest when they explain things without jargon, answer questions patiently, and don’t rush the process. If a broker talks over your questions, seems irritated by them, or pushes you toward a decision faster than you’re comfortable with, that’s information too, even if every individual answer sounded reasonable.

When to ask these questions

Raise most of these in your first conversation, before you’ve handed over any documents. A few, like the written recommendation and the comparison rate, naturally come up once you’re looking at a specific lender and loan. There’s no need to treat it as a formal interview: working these into an ordinary conversation is enough, and how naturally a broker handles them tells you plenty on its own.

Bringing it together

None of these questions are designed to catch a broker out. A broker doing their job properly will answer all of them without friction, and the process of asking will usually leave you with a clearer picture of your own loan than you started with. If a broker’s answers feel thin, contradictory, or rushed, it’s a reasonable basis to look elsewhere before you’ve handed over sensitive financial documents.

If you want the fuller picture on verifying who you’re dealing with before any of this, our guide on checking a broker’s licence before you sign covers the steps. See our scoring methodology for how brokers on this directory are ranked.