Mortgage Brokers in Cheltenham, VIC
Compare registered mortgage brokers in Cheltenham, Victoria. All listings sourced from the ASIC Credit Licensee Register.
How brokers are paid and what to ask
Choosing a mortgage broker in Cheltenham, Victoria usually comes down to three things: lender panel size, fee structure, and area knowledge. Brokers earn commission from the lender rather than from the borrower — for residential loans, this typically means upfront and trail commissions, both of which must be disclosed in writing before you sign. A broker's panel determines which lenders they can compare; a larger panel is not automatically better if your circumstances are unusual or non-bank lenders are likely to suit you. Local brokers often build relationships with specific lender BDMs, which can speed up tricky approvals. The first meeting is free; ask for the Credit Guide up front.
Arthurmac & Co Pty Ltd★★★★★ 5 (9 reviews)
D.A.A.S. Investments Pty Ltd★★★★★ 4.7 (148 reviews)
Flaka Dog Pty. Limited★★★★★ 5 (1 reviews)
Saccasan Pty Ltd
Wood, Geoffrey R
Loans Australia Pty Ltd★★★★★ 4.9 (250 reviews)
Essential Financial Planning Australia Pty Ltd
Nearby Mortgage Brokers
Frequently asked questions
How are mortgage brokers paid?
Mortgage brokers in Cheltenham, Victoria are paid commission by the lender, not by you directly. Upfront commission is typically 0.5–0.7% of the loan amount; trail commission is around 0.15% per year while the loan stays active. Both must be disclosed in writing before you sign anything.
What is the Best Interests Duty for mortgage brokers?
Since 2021 mortgage brokers have a legal Best Interests Duty under the National Consumer Credit Protection Act. They must place your interests above their own when recommending a loan — this includes considering loan suitability, total cost over the life of the loan, and any conflicts of interest from commission structures.
Do brokers charge fees on top of lender commissions?
Most residential mortgage brokers in Cheltenham, Victoria do not charge clients directly — they are paid by the lender. Commercial loans, complex restructures or specialist lending can attract a broker fee, which must be disclosed in writing in the Credit Guide and Credit Quote before any work begins.
What if I'm declined for a loan through a broker?
If a lender declines your application, your broker can submit to a different lender on their panel — credit checks done within a short window typically do not compound. If multiple declines occur the broker should explain why; complaints about broker conduct go to AFCA, free for consumers.