Free mortgage broker Australia (no fee, lender paid)
As your free mortgage broker in Australia, we compare 35+ lenders, build a personal lending strategy and handle the paperwork so you can borrow with confidence. On standard home loans we charge no broker fee to you – our income comes from the lender – and we still work under a strict Best Interests Duty to put your goals first.
Updated 20 November 2025 • Applies to home and investment loans in Australia
General information only; does not take your objectives, financial situation or needs into account. Final pricing and approval depend on a full application and lender assessment.
Why Australians use Rate Challenge as a “free mortgage broker”
No upfront broker fee on standard home loans — in most cases, you don’t pay us directly. The lender pays a commission if your loan settles, and we disclose this in your credit proposal.
Best Interests Duty — brokers are legally required to act in your best interests. We document why a lender and structure suits your goals, not just what’s fastest.
35+ lenders and policy fit first — we match your situation to lender policy before an application goes in (income treatment, buffers, property type, postcode rules, etc.).
Licensed & disclosed — Rate Challenge ABN 79 956 089 604. Credit Representative No. 567366 under Australian Credit Licence No. 390261.
If a separate advice fee could apply (rare, usually for very complex or non-standard scenarios), we’ll confirm it upfront in writing before you decide to proceed.
Free mortgage broker access to 35+ home loan lenders
Melbourne • Ballarat • Australia-wide (video meetings)Logos/colours are illustrative. We work with many more lenders via the VOW/YBR aggregation platform, including selected specialist lenders for self-employed, investors and complex structures.
Why use a free mortgage broker instead of going direct to the bank?
Going direct to a bank means working with one policy set and one product range. A free mortgage broker like Rate Challenge can look at your full picture, then match it to the lenders most likely to approve you on fair terms. We’re paid by the lender on settlement, but we’re legally required to act in your best interests.
We start with your goal: buying a first home, upgrading, refinancing, investing, or freeing up equity. Then we map how different lenders treat income, living expenses, debts, LVR tiers, property types and visa status. That policy work happens before an application goes in, so you’re not burning weeks on a “computer says no” result.
You’ll see how each option affects borrowing power, repayments, buffers and future plans. If the sharpest rate isn’t the safest structure for what you’re trying to do, we’ll explain the trade-offs in plain English and help you choose the path that lets you sleep at night.
Because we run our own small business, your result is our result. That’s why we often work beyond normal office hours when timelines get tight, and why we stay in touch after settlement to keep your loan settings fresh rather than leaving you parked on a loyalty tax.
How a free mortgage broker works (and who pays us)
💸No broker fee on standard home loans
For standard residential home and investment loans we don’t charge you a broker fee. When your loan settles, the lender pays us a commission that’s already built into their distribution costs. It doesn’t change the published interest rate you see on their website and we’ll always disclose how we’re paid.
📘Best Interests Duty and genuine advice
Brokers must legally work under a Best Interests Duty. That means our recommendation has to be in your best interests, not the bank’s or ours. We document why a particular lender and structure suits your income, risk profile and plans, and we keep file notes to back that up.
🧭Policy fit across 35+ lenders
Lenders shade income differently, treat self-employed and rental income in different ways, and can be strict on regional postcodes or high-density apartments. We do the policy research upfront so you’re applying where you’re most likely to be approved, rather than discovering a hidden rule three weeks into the process.
🧾Wraparound help from first chat to settlement
We help with structure, paperwork, valuations, bank questions and the final handover between lenders if you’re refinancing. That reduces the stress around deadlines, cooling-off periods and settlement penalties – especially on high-stakes purchases or when you’re moving away from a lender relationship that’s gone sour.
⚖️When a separate advice fee may apply
Occasionally, complex or non-standard scenarios (for example, intricate commercial deals, some SMSF loans or very small loan sizes) may attract a negotiated advice fee. If that ever applies, we’ll explain it upfront, in writing, before you decide whether to proceed.
Free broker transparency
“Free mortgage broker” usually means no upfront broker fee on standard home loans because the lender pays a commission at settlement. If you want the deeper detail, these pages break it down (and help you compare properly):
- Mortgage broker fees: how much does a broker cost?
- How mortgage brokers get paid (commission explained)
- Free mortgage broker vs bank: which is better?
If any advice fee could apply in your scenario, we’ll confirm it upfront, in writing, before you proceed.
What our free mortgage broker service covers
First-home buyers lean on us to turn scattered online information into a clear plan: deposit target, likely price range, government schemes, and how auctions or private sales actually work. We’ll map your borrowing capacity and show the difference between “bank max” and a safer level that leaves room for a life.
Existing homeowners use our free mortgage broker service to refinance or restructure debt. That could mean a rate challenge with your current lender, a clean move to another bank, or consolidating higher-rate debts while keeping a clear path to paying them out rather than stretching them forever.
Investors, self-employed borrowers and SMSF trustees often care less about one sharp rate and more about portfolio strategy. We help line up lenders, loan splits, offsets and security structures so that your borrowing power and tax position are set up for the long game – with flexibility to move as your plans change.
New arrivals and expats need help decoding local rules around visas, foreign income, credit history and what’s considered acceptable security. We can talk through visa types, evidence of income, and which lenders are more open to non-standard situations, then build a plan to get you “home loan ready”.
When to speak to a free mortgage broker
You don’t have to wait until you’ve found the “perfect” property. Many clients first talk to us 6–18 months before they buy. That gives time to tidy up debts, build a stronger deposit, adjust savings behaviour and get a feel for what different price points would mean for repayments and buffers.
Once you’re close, we can organise a pre-approval so you know your buying power before auctions or private offers. From there we manage the full application and stay alongside you through valuation, conditional approval, formal approval and settlement – then keep checking back in as rates and your life move on.
Tools & guides to use with a free mortgage broker
Home Loan Interest Rate Review Calculator
Check how your current rate stacks up, see monthly repayment changes and test the impact of a sharper offer before we compare lenders.
Home Loan Guide
A practical guide to home loans in Australia – deposits, government schemes, interest-only vs principal and interest, and key bank jargon.
Rentvesting Guide
Explore whether renting where you want to live while buying where you can afford makes sense – with examples and trade-offs to discuss with your broker.
Where our free mortgage broker service helps
Local insight in Victoria with Australia-wide coverage via phone and video calls.
Visit or book a chat with a free mortgage broker
Melbourne • Ballarat • Australia-wide (video meetings)Meetings by appointment. Close to major stations and the legal precinct – handy when contracts, discharges and settlements all converge.
Meetings by appointment. Local support for first-home buyers, investors and refinancers in Ballarat and regional Victoria.
Australia-wide support via phone and video if you prefer to work with a free mortgage broker entirely online.
We charge no broker fee on standard home loans. Some complex or bespoke scenarios may attract a fee, which we’ll always discuss upfront.
Free mortgage broker FAQs
💸Is a free mortgage broker really free – who pays you?
For standard residential home and investment loans, we don’t charge you a broker fee. The lender pays us a commission when your loan settles, and we disclose this in your credit proposal so you can see exactly how we’re paid — see how mortgage brokers get paid (commission explained).
📉Will using a free mortgage broker change my interest rate?
No. Lenders set rate cards and cashback offers for both direct and broker channels. Our job is to negotiate within those ranges, compare options across multiple lenders, and show you the true cost once fees and features are taken into account. You shouldn’t pay more simply because you used a broker.
🏦How are you different from going straight to a bank?
A bank can only offer its own products and policy. A free mortgage broker can step back, look at your full situation and consider dozens of lenders. We’re also bound by a Best Interests Duty, which means we need to show why a recommended option is in your best interests, not just convenient for a particular bank — compare the two here: free mortgage broker vs bank.
⚖️When might I pay a fee to a mortgage broker?
Most of our work is fee-free to you. Occasionally, highly complex or low-value deals (for example, some commercial, SMSF or short-term scenarios) may attract an advice fee so the work still stacks up. If that’s ever the case, we’ll explain it clearly and get your agreement before we start — details here: mortgage broker fees (when you might pay).
🧮Can you help if I’m self-employed or have multiple income sources?
Yes. Many lenders treat self-employed income, overtime, bonuses and rent differently. We work through your tax returns, BAS and payslips, then target lenders whose policy is a good fit so you’re not penalised simply for how you earn.
🌏Can a free mortgage broker help new arrivals and expats?
Often, yes. Lender appetite varies by visa type, foreign income, credit history and where the property is located. We can outline what’s realistic now, what might require more time, and which lenders are open to your profile.
📍Which areas do you service?
We’re based in Melbourne and Ballarat, with close ties to Geelong, Bacchus Marsh and Melton, but we work with clients Australia-wide by phone and video. Most of the process can be completed online, with electronic document signing where your lender allows it.
⏱️When should I speak to a broker if I’m just thinking about buying?
It’s worth talking to a free mortgage broker as soon as buying is on your radar. Even 6–12 months out we can help with deposit targets, savings strategies, debt clean-up and realistic price ranges so you’re ready when the right property appears.
Information accurate as at 20/11/2025. Lender policies and pricing can change; please confirm details before acting.