Using a mortgage broker generally doesn't cost you more than going to the bank directly. Brokers are paid a commission by the lender, which they must disclose to you, and you get the same rate the lender offers. Brokers must also act in your best interests when recommending a loan.

In this video, McKern mortgage broker Mark Jones explains what you gain: one consistent contact who knows your history even as bank relationship managers come and go, and direct lines to lenders' business development managers to fix problems quickly and negotiate sharper pricing. He also explains why banks increasingly rely on brokers, who now arrange around 80% of new home loans (MFAA).

In this video

0:00 Continuity when bank managers move on

1:06 Does a broker cost you more?

2:18 How brokers fix problems and negotiate pricing

General information only, not personal advice.