A good mortgage broker's biggest advantage is product knowledge. Lending policies change month to month and differ by lender, loan type and even the borrower's industry. Brokers get these updates directly from each lender's business development managers and online portals, which the public can't see, so they can match you to the lender and product that actually fit.

In this video, McKern mortgage broker Mark Jones explains why banks increasingly work through brokers (brokers now arrange around 80% of new home loans in Australia, according to the MFAA) and how McKern Finance has set up specialists for residential, commercial and asset finance.

In this video

0:00 What a broker offers that a bank doesn't

1:10 Where brokers get policy updates

1:41 Why banks are moving lending to brokers

2:34 How McKern Finance is set up

General information only, not personal advice.