How to Choose a Mortgage Broker and Home Loan

Mortgage Broking, NewsBy Approved Financial Planners January 29, 2025

1. The role of a mortgage broker in Australia

What a mortgage broker does

A mortgage broker acts as an intermediary between borrowers (you) and lenders (banks, credit unions, non-bank lenders). Rather than you going to each lender to compare, a broker:

Has access to a panel of multiple lenders and home-loan products.
Compares rates, features, fees, and lending criteria across that panel.
Helps you with your application (gathering documents, negotiating with lenders, structuring the loan).
Often handles the submission and settlement process.
After settlement, may assist with future refinancing or re-negotiation.

Brokers are regulated in Australia (must hold a credit licence or act under one) and are subject to disclosure and conduct requirements.

Because brokers can shop through multiple lenders, they may find a better fit or cheaper product than you might find on your own.

However, brokers are (in part) remunerated via commission from lenders (both up-front and trailing commission). Always ask what fees or commissions the broker receives, whether there is any conflict of interest or panel restrictions, and whether the broker offers “fee for service” or commission-based models.

The use of brokers has grown significantly in Australia, with brokers now originating a large share of home loans. (Wikipedia)

A recent study also examined how brokers mitigate borrower confusion regarding loan features. (ScienceDirect)

Jan132025

Understanding Superannuation

News, Superannuation FundBy Approved Financial Planners January 13, 2025

One of the many financial services we offer at Approved Financial Planners is help with your superannuation fund. Whether you choose self managed superannuation or any of the super funds available to you, we can provide sound financial advice and improve your understanding of superannuation.

How Superannuation Works

Money is placed into your superannuation account, also known as a “super account” or “super,” by you, your employer or both. The money in your super fund is then invested with the intent of it growing in time, even though it will occasionally return a negative result for the year. *

As a super grows, the money earned is reinvested and also earns a return, helping your balance grow even more. On member contributions for which you claimed a tax deduction or on contributions from your employer, your tax is only 15% of any contribution up to $30,000 per year. The $30,000 limit is known as the “concessional contributions cap.” *

Bruce Blee 3 months ago

Thanks once again Tracy for providing me with options and information relevant to my portfolio .

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Paul Wedd 4 months ago

My meeting with Daniel was very positive as we discussed a range of issues in relation to my superannuation and my financial and personal health which were pertinent to me. Also looked at what if cash flow scenarios in regard to bookkeeping opportunities and creating a new super fund if matters come to pass. Also the coffee and biscuits were great.

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Nicky T 5 months ago

Dan genuinely cares about my personal circumstances and supports my finacial goals as an individual with specific needs.

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Richard Gordon 6 months ago

The team at Approved Financial Planners has been amazing in supporting and guiding us through the development of a financial plan for our future. From the beginning, they took the time to truly understand our goals and objectives, making us feel heard and valued.

What stood out was their ability to present tailored scenarios with adjustable factors, helping us make informed decisions with confidence. They also went above and beyond by assisting with the implementation of important elements such as insurance and wills, giving us peace of mind that our family's assets are protected in case of the unexpected.

We’re incredibly grateful for their professionalism, care, and expertise. Highly recommend their services to anyone looking for reliable and thoughtful financial planning.

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Steve Giaquinto 6 months ago

I have been with Approved Financial Planners for a long time now. Great Advice and service. Tracey has a wealth of knowledge and has helped me achieve my financial goals with ease.

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David Russell 7 months ago

On March 6 both Cindy and I had our annual financial review with Approved Financial Planners in Floreat WA. Our financial planner is Tracey Corbett and this is our second year where Tracey has been our planner and her advice has been very informative and is explained in such a way that both Cindy and I can understand. All sections of both our financial plans were presented and explained in lay-man terms.

We are both looking forward to seeing Tracey next year for our next review.

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Robert Dale 7 months ago

Tracey has been a honest and helpful advisor who has her clients interest at heart.

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Karlee Palmer 9 months ago

Tracey and the team at Approved have been a great help.. very helpful and supportive

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Anne-Audrey LATSCHA 9 months ago

I am extremely satisfied with the services provided by Tracey at Approved Financial Planners. I appreciate the attention to details, the follow up, the prompt responses, the patience in assessing and explaining options. I also appreciate the attention to customer also provided by the rest of the team. Highly recommended !

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Ken Miller 9 months ago

Just completed another annual review with Dan at Approved Financial Planners. It is so nice to see such positive and pleasing results as presented by Dan and to know our financial planning is in good hands. Ongoing planning and advice from Dan is always welcoming and if Dan is not available, we have found Christa the office manager always willing and able to assist and deal with any queries we may have. So, needing a financial adviser then contact Dan and his team at Approved Financial Planners

Ken and Anne Miller

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tim palmer 9 months ago

Thanks Dan and Staff for the annual review. The forecasting for retirement and the software used was very illustrative and useful to understand. Growth in funds and super has been robust in the last 12 months and advice for the next 12 months taken on board. Look fwd to making a few tweaks to the portfolio once the report is completed.

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Maureen Campbell 9 months ago

I've been working with Dan for over 10 years & I have been consistently impressed with his level of professionalism and expertise.
He offers a comprehensive yearly review of my investment portfolio, pension balance, cash flow & estate planning. Dan stays up to date with current trends in finance which gives me confidence that my financial plan is aligned with current best practices.
I appreciate his strategies to maximise my superannuation, ensuring I'm on track for the future.
I also want to mention the support from his team, they are friendly & professional.
I highly recommend Dan.

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John Twigg 9 months ago

Hi People - just a quick note letting everyone know that AFP have been nothing but totally professional with my business over the past few years. Tracey has been my latest advisor and I have nothing but praise for her friendliness, approachability and advice covering everything from the value of second-hand cars to having my will updated.

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Bev Philpott 9 months ago

Tracey is our new planner. We find her to be friendly and very down to earth. We appreciate having things explained in terms we understand. We hope to have a long relationship with her in her role as our financial planner.

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Cheryl Pooley 10 months ago

Attended a meeting with Tracey Corbett to review financial situation. Meeting went well, Tracey is always very helpful and would recommend Approved Financial Planners to anyone seeking financial advice.

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Juan Ceballos 11 months ago

We are happy with their service and their advice. We followed their recommendations and we now have achieved our goals in the short term. We recommend them.

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Shannon Bedford 11 months ago

Daniel has been providing me with Financial Planning for several years now. My financial literacy is pretty poor so it's great to work with someone who explains things in a manner that is easy to understand. I'm a visual person, so I like that he is able to plug figures into charts and quickly show me the outcomes of various scenarios. Daniel is gives great advice, is realistic about my goals and is also an easy person to talk to.

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Erwin Norbert Babooram 11 months ago

We have been clients of Approved Financial Planners since 2018, and we couldn’t be happier with the service they’ve provided over the years. Daniel Stevens has been an exceptional adviser, making us feel like so much more than just clients. His advice has been instrumental in our financial growth, helping us stay focused on achievable goals while always keeping our best interests at heart.

One of the highlights of working with Daniel is the annual catch-up—he takes the time to truly understand where we are in our financial journey and provides tailored advice to keep us on track. It’s clear how much he genuinely cares about helping us reach our goals.

Having worked with Approved Financial Planners for years, we can confidently say their expertise and dedication have made a significant difference in our lives. We highly recommend them to anyone looking for professional, personalised financial advice.

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Rheon Plug 12 months ago

I have recently had my Annual Review with Tracey.
Tracey has been very helpful and supportive with my long and short term financial goals.
She is very professional and friendly and comes with a lot of super helpful knowledge and information.
I'm very excited to see what can be achieved long term with Tracey and team!

Thanks again to the team at Approved Financial Planners.

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Beverly Blight 12 months ago

A relaxing experience for such a burdening issue. Tracey and her team have welcomed us to her flock with an attitude rarely seen these days, 'anything is possible'. Thankyou for making our finances seem 'too easy'. We will recommend this Company to all that need financial help.

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