Most new home loans in Australia now come through a broker. In the March 2026 quarter, brokers reached a record 81.0% share of new residential lending, according to the Mortgage and Finance Association of Australia.
Several rules also changed in 2026, including new limits from the Australian Prudential Regulation Authority and a coming change to self-managed super fund lending. Use this checklist to compare brokers, ask better questions, and avoid surprises during approval.
Why Use a Broker in 2026
A broker can compare loans across multiple lenders, lodge your application, and track it through to settlement.
Under Australian law, mortgage brokers must act in your best interests when recommending a home loan, as explained by ASIC Moneysmart.
On cost, brokers are generally paid by lenders through commissions. Moneysmart notes that if a broker charges you a fee, they must give you a written quote for you to sign before requesting payment.
Step 1: Verify Credentials Quickly
Start with licensing. The Queensland Government advises consumers to deal only with licensed mortgage brokers regulated by ASIC.
You can check a broker on the ASIC Professional Registers to confirm Credit Licensee or Credit Representative status.
Also confirm the firm is a member of the Australian Financial Complaints Authority. If a problem is not resolved through the firm’s internal process, you can lodge a complaint with AFCA.
Membership of a body such as the MFAA or FBAA can signal professionalism, but it is not a licence. Treat it as a useful extra rather than proof.
Step 2: Understand How Brokers Are Paid
Ask early how the broker is paid. Lender-paid commission is common, and any fee charged to you should come with a signed quote first, per Moneysmart.
Because of the best interest duty, you can reasonably ask for two or three loan options and the clear reason behind the recommendation.
When comparing advertised loans, remember that the National Credit Code requires advertisements for fixed-term consumer credit to display a comparison rate, as noted by ASIC. This helps you weigh the broader cost, not just the headline rate.
Step 3: The 2026 Rule Changes That Affect Approvals
From 1 February 2026, authorised deposit-taking institutions must limit new mortgage lending with a debt-to-income ratio of six or more to 20% of their new lending, according to APRA. High-DTI loans may become harder to secure.
Lenders also apply at least a 3.0 percentage point serviceability buffer when assessing borrowers, unless APRA sets a different level. That buffer affects how much you can borrow because lenders test whether you could still meet repayments if rates rose.
For first-home buyers, Queensland will continue the $30,000 First Home Owner Grant for eligible contracts signed from 1 July 2026 onward, per Queensland Revenue Office. Current eligibility rules include a new-home value cap under $750,000.
From 10 August 2026, new self-managed super fund borrowings to buy residential property through limited recourse borrowing arrangements will not be permitted. Such arrangements will be limited to business real property, with transitional protection for earlier contracts and refinancings, per the relevant legislation.
Step 4: Shortlist for the Gold Coast
- Lender panel breadth, so you can compare a reasonable range of options
- Experience with your scenario, whether you are a first-home buyer, self-employed borrower, next-home buyer, investor, or SMSF-related borrower
- Turnaround expectations and communication style
- Whether they offer a post-settlement review
For a local example of how a Gold Coast broker presents services for first-home buyers, refinancing, property investors, next-home purchases, and SMSF-related lending, see mortgage brokers Gold Coast. Go Mortgage lists these services and is based in Arundel on the Gold Coast.
Use that only as a reference for how services are described, then compare Go Mortgage against other local firms.
Step 5: Questions to Ask in the First Meeting
- How many lenders do you work with, and which ones can you not access?
- How are you paid, and will I be charged any fee?
- Why is the recommended option in my best interests?
- What is the total cost, including any fees?
- When does lenders mortgage insurance apply, and how might I avoid it?
- Am I eligible for any scheme, such as the First Home Owner Grant?
- What are the trade-offs between fixed and variable rates?
Go Mortgage and other local brokers should be able to explain each answer plainly and without pressure.
Step 6: What to Bring So Answers Are Precise
A broker can only give accurate guidance with the right paperwork. Industry checklists from lenders commonly ask for the following.
- Two recent payslips or other salary evidence
- Three to six months of bank statements
- Identification, such as a Queensland licence or passport plus a utility bill
- A list of current debts and repayments
- Evidence of your deposit and any gift letters
Self-employed borrowers may need around two years of tax returns and notices of assessment.
Step 7: Compare Two Brokers Side by Side
Before you commit, score two brokers against the same criteria.
- Verification passed on ASIC and AFCA
- Experience match for your scenario
- Clarity of explanation
- Response speed
- Number and range of lenders shown
- Quality of the reasons given for the recommendation
- A clear post-settlement plan
If you want a broader background on property investing while you decide, some readers find general real estate books a useful starting point for context. For related context on higher mortgage rates, consider how rate pressure can affect loan choices.
FAQ
Do Gold Coast mortgage brokers have to act in my best interests?
Yes. ASIC Moneysmart explains that mortgage brokers must act in your best interests when giving credit assistance.
What 2026 change may affect borrowing capacity?
From 1 February 2026, APRA’s high debt-to-income limit applies to authorised deposit-taking institutions, so borrowers with high debts may face closer assessment.
Is the Queensland First Home Owner Grant still $30,000 in 2026?
Queensland Revenue Office says the $30,000 grant continues for eligible contracts signed from 1 July 2026 onward, subject to the current rules.
