Become a mortgage broker

Should you consider mortgage broking as your next career move?

Have you been thinking of upskilling and taking on a new challenge (maybe a new side hustle), that could one day turn into a successful career. Or are you feeling unfulfilled in your current career and are ready for a career change? Becoming a mortgage broker could just be the opportunity you’ve been waiting for.
The Mortgage Broking profession offers a career with enormous upside, and being able to assist clients reach their financial goals provides amazing fulfillment. But it isn’t a shortcut to riches. You can make a great living but you must put in the ground work in order to reap the rewards. Borrowers are spoilt for choice when it comes to choosing a loan, but working out which lender to go with, and which product to choose, is becoming increasingly stressful and confusing. It is little wonder that brokers have never been in greater demand.

What does a Mortgage Broker do?


  • Review a clients current financial position.
  • Discussed what their objectives and requirements are.


  • Assess the clients borrowing capacity, funding position, and if possible present loan options which meet their requirements and are in their best interests.


  • Assist the client in submitting the application to the lender 
  • Manage the loan application process from submission (alongside a Broker Support Team), to loan approval, to loan settlement, and provide ongoing assistance in the future. 

Book in a free introductory session

on our broker mentoring service.

Do you think you have what it takes to be a successful broker?

Here are some characteristics that we believe are the foundations of a high performing broker: 

  • The right ethics to put the clients interest first  
  • Problem solver 
  • Process driven 
  • Strong time management skills 
  • Good with numbers 
  • Interpersonal intelligence – the ability of a person to relate well with people and manage relationships with clients, colleagues and referral partners. 
Become a mortgage broker mentor

Financial Remuneration

Mortgage brokers get paid an upfront commission following the settlement of a loan (usually paid one month after settlement). They also receive a trail commission for as long as the loan is in place.  

Key to administration of commission payments are companies called aggregators. 

Aggregators are effectively the middleperson between the bank and the broker. They usually provide software, access to lenders, and commission processing functions. Sub aggregators, or mortgage brokerages, often provide additional support including marketing services, support staff, business building advice. Depending on which aggregator/sub aggregator you partner with will determine what split of the commissions you receive. The more support you need, the bigger split the broker will share with the aggregator.  

Keep in mind that some applications take months to go from enquiry through to settlement, so the timeline of receiving payment needs to be managed carefully and its wise to have funds set aside (or continue working) whilst you wait for your first few commissions to be paid.

How do you become a Mortgage Broker?

There are a couple of ways to enter the industry and become a mortgage broker: 

  • Join a large national broker franchise group, which often involves paying hefty franchise fees before you join and have a chance to understand the industry/process
  • Start on your own business, creating your own processes, template, marketing platform, forming relationships etc. Whilst this avenue would provide you with a larger commission split, it means you need to allocate a large amount of time towards the administration side of the business that you could be spending working with clients and building referral relationships
  • Join a established brokerage with minimal upfront and ongoing costs, where you can benefit from the years of work we’ve put into building processes, relationships and the goodwill of our brand

Acceptance Finance specialises in turning non brokers with no finance background into high performing brokers, given the structure and support we provide.  We have a number of FBAA approved mentor’s to assist new to industry brokers, and the cost of mentoring is covered by our commission split arrangements.

Several of our highest performing brokers started with no finance background. 

Connect with one of our

Leadership Team now.

Take the first step

If you are keen to start a career in mortgage broking, let’s talk. We can run you through the entry requirements (Compliance / Education / Mentorship) and create a plan to get you underway. 

So the question to ask yourself is should you quit your job and commit 100% of your time to become a mortgage broker?

Maybe, but for most people it’s wise to keep your current job whilst you complete the entry requirements, complete your training and start building a pipeline of enquiries. 

This is why we believe that mortgage broking could be the ultimate side hustle for some people, as it allows you to ramp up the hours you commit to grow your business as your pipeline increases. Plus, although the financial benefits of mortgage broking are ultimately very attractive, the delayed timing of the payments means that by keeping your current source of income you don’t place yourself in financial stress whilst waiting for your first lot of commission payments to be received (which could be 3-6 months from your commencement date). 

Working two jobs will bring its challenges, with the need to speak to clients, banks and your support team during business hours. But if your communication is clear and time management skills on point, with our assistance you should be able to manage this transition period. 

Costs to get setup as a Mortgage Broker

  • Education Costs = Cert IV $1000 or Diploma $1,500.00 (est)
  • Industry Association Membership Costs = $500 (est)
  • Laptop   
  • Mobile 
  • AFCA $65
  • Aggregator cost (Typically $1,000 per month, varies across the industry, but AF covers these costs)
  • Admin support costs (varies across the industry, but AF covers these costs)
  • Marketing support (varies across the industry, but AF covers these costs)
  • PI Insurance = at cost under our group policy
  • Mentoring: $500-$1,500 a month depending on the program (Acceptance Finance provides free broker mentoring)
  • Credit history check: $80 (est)
  • Police Check: $40 (est)

Why partner with Acceptance Finance?

  • Acceptance Finance has been consistently ranked as one of Australia’s top mortgage brokerages. In 2020 we were awarded Australia’s Top Mortgage Brokerage by MPA Magazine. Our company prides itself on its high ethics, commitment to Best Interest Duty and exceptional customer service standards. 
  • Our broker team consist of high performing, motivated individuals, who on average settle $30m in mortgages each year. 
  • Commission only model (uncapped share of upfront and trail commission) 
  • Commission splits to be disclosed during initial discussion
  • Contract will include a minimum 3 year commitment period, as we will invest heavily in new brokers
  • Full loan administration support provided (inhouse and offshore), so you can focus on nurturing new clients and providing recommendations
  • Acceptance Finance manages its own ACL, and we provide full compliance training and ongoing support
  • We utilise the Mercury Nexus CRM, aggregation with Connective 
  • Full marketing support provided under the Acceptance Finance brand
  • You profile to appear on Acceptance Finance website, with SEO strategies being available to target your local suburbs
  • Business planning and support provided
  • Access to tailored Professional Development sessions which provide CPD points
  • Ongoing Business Building support, how to make the most of their network, build new networks. Referral partners can have a huge impact on delivering strong flows of quality clients
  • Strong team culture, brokers able to provide support on scenarios/applications, and help you to avoid the mistakes that many brokers make
  • Partner with a group with proven results 
  • We have the track record to be able to nurture new brokers with no finance background to top 100 brokers
  • Learn how some of Australia’s leading brokers navigated common pitfalls and thrived in opportunities within the first few years of their careers and how they built solid businesses from day one

Timeline to get setup as a Mortgage Broker

  • Step 1
    • We encourage you to chat to a number of brokers in our team, to get first hand feedback of the industry, our business and how to succeed.
  • Step 2
    • Get qualified. The minimum education requirement for a mortgage broker is usually a Certificate IV in Finance and Mortgage Broking. In recent years, however, brokering groups and aggregators are increasingly requiring brokers to have a diploma.  
  • Step 3
    • Complete credit check/police check. You will want to ensure you are financially solid and a citizen of good standing. 
  • Step 4
    • Choose an aggregator, brokerage franchise. For self-employed mortgage brokers, you can join an aggregator who will provide you with support (panel of lenders, technology) or you can join a brokerage or franchise, which will provide you with marketing, back-office support, and a brand name. 
  • Step 5
    • You will need to become a Credit Representative of an Australian Credit Licence holder or have your own Australian Credit Licence. There are alternatives, however. You can become a Credit Representative of an existing ACL holder, like your aggregator. 
  • Step 6
  • Step 7
    • Find a mentor. A mentor will be critical during your first two years as a mortgage broker. Acceptance Finance offering mentoring services to new brokers.

Connect with one of our

Leadership Team now.