When you buy property in Melbourne, the choice of who arranges your finance can make a big difference. A Melbourne mortgage broker helps you compare home loans from multiple lenders, find better rates, and secure tailored finance solutions that suit your personal and property goals.
Going straight to a bank may seem simple, but this decision often limits your options, flexibility and negotiating advantage. In contrast, using Melbourne mortgage brokers gives you a broader path, and often leads to better and more budget-friendly outcomes.
Find out exactly why working with a broker beats going to the bank, how brokers uncover better deals, and why a local Melbourne broker will help you save.
Benefits of using a Melbourne Mortgage Broker
Five reasons to work with a Melbourne mortgage broker instead of a bank
1. Access more products and lenders
If you go directly to a bank, you’ll generally see only their loan products, which may or may not suit your financial position or property goals. A broker has access to dozens of banks and non-bank lenders, giving you a much longer menu of options.
2. More tailored advice, less cookie-cutter solutions
Banks tend to apply standard criteria and push their own products. They’re less flexible with special cases like first-home buyers, low deposits and borrowers with complex income. A broker will assess your situation and match you to suitable products rather than pushing you to adapt your circumstances to a loan.
3. Negotiation power and better terms
Because brokers bring volume business to lenders, they often have leverage to negotiate rates or terms you can’t access as an individual. They have the experience and know-how to encourage lenders to offer better interest margins, fee waivers, offsets or redraw facilities.
4. Time, effort and paperwork handled for you
A broker does the legwork by comparing lenders, preparing documentation, managing your application and liaising with the lender. There is no (or very little) cost to you for these services, and using a broker will free you to focus on property inspections, contracts and moving into your new place, not chasing paperwork across banks.
5. Best interests duty and regulatory safeguards
Laws were passed in 2021 that require mortgage brokers in Australia to act under the “Best Interests Duty” (BID). This means your broker is legally bound to recommend solutions that suit you rather than their own profit margin.
How brokers find competitive home loan deals
At Lend&Co, we take clear steps to secure home loans on behalf of our clients. This includes the following;
Sifting through a wide lender network
Your Melbourne broker typically works with major banks, regional lenders, credit unions and niche non-bank lenders. This diversity means we can match borrowing profiles to lenders that are more likely to approve and structure favourable terms.
Feature and rate comparison
It’s not just about headline interest rates. Brokers evaluate ongoing costs, fee structures, flexibility clauses, offset and redraw features and any discount tiers. It’s these small things that can make a big difference to the overall amount you spend.
Property review
Melbourne’s property market has its own quirks, with inner-city apartments, heritage overlays, older properties and mixed-use zones. A local broker knows which lenders are more open to different properties, or which suburbs are more challenging, and can ensure you’ll have good odds of getting loan approval to buy in your preferred area.
Custom structuring
Whether you’re buying your first home, investing in a unit, refinancing so you can move across suburbs, or buying with a partner, a broker will tailor the loan structure and talk you through how much you can borrow, what kind of rate to choose and whether to go with an interest-only vs principal & interest loan, etc.
Your broker will also make recommendations based on your employment status, credit history, visa status, current debt and relationship status.
Advocacy & application support
If your application is borderline or unlikely to be approved, a broker can coach you through strengthening your case (income structure, documentation, explanations), or lodge it with more flexible lenders.
This can all add up to save you thousands over the life of your loan, and also to streamline the buying process.
Local expertise matters
A Melbourne mortgage broker gives you the advantage of general finance knowledge and local market insight. They understand which suburbs are hot, where price growth is more stable, which property types lenders favour or avoid, and how local auction dynamics affect valuations.
For example, some lenders may be wary of very narrow townhouse blocks in fringe zones, new developments or units in mixed commercial/residential buildings. Or you may be buying with family members, or with your parents as guarantors. A local broker has seen these cases before and knows which lenders interpret them favourably.
Your Melbourne broker can also connect you with local valuers, real estate agents and conveyancers to smooth the entire transaction.
Broker usage in Australia: the numbers
Using a mortgage broker is already the norm for many Australians. In late 2024, mortgage brokers were responsible for 74.6 % of all new home loans in Australia. This was the highest market share on record.
The statistics underscore the fact that brokers are now the primary route for Australians seeking home finance.
Talk to a Melbourne mortgage broker today
If you’re about to secure a home loan in Melbourne or you’re considering refinancing or investing, working directly with a bank is likely leaving money and flexibility on the table. A Melbourne mortgage broker from Lend&Co brings local insight, negotiation leverage and support to structure the loan that works for you.
We understand Melbourne’s property landscape, lender tendencies across suburbs, and what it takes to get your loan approved under optimal terms. Let us do the heavy lifting so you can focus on finding your perfect property.
Contact Lend&Co today and let us find you a smarter, better home loan.
