Mortgage Broker

A mortgage broker acts as a go-between for borrowers and lenders. Rather than working for a single bank, a broker typically holds accreditation with multiple lenders and uses that access to compare loan products on a client's behalf. The work involves assessing a client's financial position, explaining borrowing options, preparing loan applications, and managing the paperwork through to settlement. Brokers are paid through commissions from lenders, though fee-for-service arrangements also exist. The role requires a solid grasp of credit products, lending criteria, and compliance obligations under the National Consumer Credit Protection Act.

A typical day could include meeting new clients to discuss their borrowing goals, gathering financial documents such as payslips and tax returns, running serviceability calculations, and submitting applications through lender portals. Follow-up calls with bank assessors, responding to client queries, and keeping records up to date for compliance purposes are also common tasks. Brokers who run their own business may also spend time on lead generation, referral partner meetings, and reviewing their lender panel for new products.

The standard entry pathway is a Certificate IV in Finance and Mortgage Broking, with many practitioners also completing a Diploma of Finance and Mortgage Broking Management (JSA Occupation Profile). These qualifications are offered through registered training organisations across Australia. You can search for providers at yourcareer.gov.au. Some states and territories may have free or subsidised training options. Check dewr.gov.au/skills-reform/free-tafe for current eligibility. Beyond formal study, brokers must either hold their own Australian Credit Licence (ACL) issued by ASIC or be authorised as a credit representative of an ACL holder, and many also join an industry association such as the Mortgage and Finance Association of Australia (MFAA) or the Finance Brokers Association of Australia (FBAA).

The income structure is the part that catches many career changers off guard. Commission-based pay means there is no guaranteed base salary in many broker roles, and it can take twelve to eighteen months to build a client base that generates consistent income. Compliance obligations are also substantial. ASIC's responsible lending rules, ongoing professional development requirements, and the best interests duty introduced in 2021 all add to the administrative load. People moving from salaried roles in other industries sometimes underestimate how much time goes into compliance, record-keeping, and client acquisition before the financial rewards become stable.

In practice, mortgage broking activity tends to follow population density, so the larger capital cities are likely to have the greatest concentration of roles, though regional brokers do operate across Australia.

Published for ANZSCO unit group 2221, the wider group this job sits in, not for this job on its own.

This is the median for full-time employees who are not managers and are paid at the adult rate, before tax and salary sacrifice. It is a guide to what the work pays, not a wage rate.

Source: ABS Survey of Employee Earnings and Hours, May 2025, customised report.

• Active Listeningcore
• Actuarial sciencecore
• Attention to Detailcore
• Calculate insurance ratecore
• Claims procedurescore
• Claims Processingcore
• Complaint Handlingcore
• CRM System Operationcore
• Customer Needs Assessmentcore
• Negotiationcore
• Policy Interpretationcore
• Record Managementcore
• Regulatory and Legislative Awarenesscore
• Research and Analysiscore
• Risk Identificationcore
• Stakeholder Communicationcore
• Verbal Communicationcore
• Written Communicationcore
• Confidentiality and Privacy Compliance
• Continuous Learning and Upskilling
• Invoicing and Billing Administration
• Microsoft Office Suite Proficiency
• Objection Handling
• Report Writing
• Time Management and Prioritisation
• Upselling and Cross-Selling

• ABS OSCA 2024, occupation definition and task statements
• ABS Survey of Employee Earnings and Hours, May 2025, customised report.
• ABS, 2021 Census of Population and Housing based on usual place of residence (Custom Report). OSCA Experimental Estimates.

Role data is drawn from official Australian Government sources, and each figure names where it comes from. Where a role is not in the ABS classification, the page shows no government figures for it. Data may not reflect every local variation.

Where our numbers come from.

What Mortgage Broker workers move into, from ten years of tax records.

Last updated: 8 October 2026