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As you search for your next home or think about refinancing, you may be wondering about whether or not to use a broker. Brokers (also known as mortgage brokers and home loan brokers) are people who work on behalf of someone who is in the market for a home loan. They can connect you with different lenders, give advice, and help you through the entire home loan process.

So, how could using a broker help you? Here are ten benefits to think about when considering whether to use broker or not.


Home loan brokers are experts in the property lending world. A good broker will have in-depth knowledge of the mortgage market, regulations, and the home loan products available to you. They will offer guidance tailored to your personal needs and be able to answer any home loan questions you may have.


Brokers streamline the mortgage application process by researching and comparing multiple lenders and products, so you don’t have to. In fact, many brokers have the ability to compare a wide variety of home loans and lenders in one single platform which not only makes their job easier and quicker, but by using a broker you’ll also save yourself the time and effort involved in searching for and comparing home loans too.

Access to multiple lenders

Whether they work for themselves or for a dedicated broker business, brokers have access to a wide network of lenders, including banks, credit unions, and alternative lenders. This variety increases your chances of landing on the best loan option for your financial situation and needs.

Customised options

By getting to know you, your finances and your financial goals, a broker will be able to provide you with personalised solutions and options that fit your unique circumstances. If you’re a first-time home buyer with a small deposit, they’ll know which lenders could finance your purchase. If you’re looking to buy an investment property by accessing equity in your existing property, they’ll have options for you too.

Negotiation power

Brokers can negotiate terms and interest rates with lenders on your behalf, potentially securing you more favourable terms with some lenders than you would have available if you were working on your own. With P&N Bank, both new customers and existing customers are offered the same competitive home loan rates whether they come to us through a broker or directly through one of our own home loan specialists.

Home loan advice

Beyond just finding you a loan, brokers can offer valuable advice and assistance. Brokers need to be accredited and licensed which means their knowledge and expertise can help you understand the different home loan options and how they can impact your overall financial strategy.

Money saving

Whether it’s a great low interest rate, a loan with minimal fees or a loan with an offset account attached, by finding you the most suitable loan, a broker could potentially save you a lot of money over the life of your loan. Plus, you don’t pay a broker yourself – the lender does!


A broker will handle the paperwork, the communication with lenders, and any other administrative tasks on your behalf. They can simplify the loan application process and help reduce any stress you may have about obtaining a loan or refinancing an existing one.

Continued support

Even after your loan is secured, your broker can provide ongoing support. They’ll be able to answer any questions you may have and assist with any issues that may arise during the term of the loan. If you opt for a fixed rate home loan, you’ll likely hear from your broker before your term expires so you can discuss your requirements for the future.

Future planning

Brokers can help you plan for your future. They can discuss the options available to you for refinancing, accessing equity, or adjusting your mortgage when your financial situation evolves.

If you prefer to navigate the home loan process independently, that's okay. Just remember that our expert team of home loan specialists is here to assist you if you need a hand.