We are compensated by the lenders we introduce loans to, not by our clients. Banks and lenders pay us a commission for doing the work of bringing them a new customer and helping with the loan processing. This commission is typically apercentage of the loan amount and very similar between all lenders (often around 0.6–0.7% upfront, plus a small ongoing yearly trail amount). These payments come directly from the lender as a cost of acquiring your business – not from you. Importantly, this does not affect your interestrate or costs; in fact, the rates and deals we secure are often better than standard, because we negotiate on your behalf. Over 75% of all loans in Australia are placed via mortgage brokers, which means the broking industry has strong negotiating power with the banks. Our income is contingent on successful loan delivery, so it’s in our interest to find you a suitable loan that gets approved.