The difference between using mortgage brokers and personal banking

Mortgage brokers work to arrange home loans between a range of lenders and borrowers, finding the home loan that suits the needs of a borrower, as well as assisting with the application process.

Mortgage brokers typically earn commission from the lenders they introduce borrowers to.

If your mortgage application is approved by a lender introduced by a broker, then the lender will pay the broker a commission. When working with a broker, its worth understanding how their commission structure works. This will help to ensure that you’re fully informed.

Because we don’t pay commission to brokers, we can invest more into offering competitive rates for our Members.

This allows us to provide better value through features such as 100% offset accounts for variable home loan products, home loan options with free redraws, no monthly or annual fees, early repayments and 24/7 Online Banking access.

Plus, you might also enjoy the convenience of having all your banking in one place, for example we can offer a low-rate credit card or even an obligation free insurance quote. We even have GO SiXTY PLUS products designed specifically for over 60s as you move into the next stage of life. Always consider whether the product you choose has all the features you need.

When you work with us for your first home purchase or a refinanced home loan, you will have access to a lending specialist who supports you every step of the way to find the best home loan for your specific needs.

By talking directly to us, you could be streamlining the communication process. Our team will work with you throughout the journey – from finding you a home loan to suit your needs, to guiding you through the application process and answering any questions you may have.

We support our Members by reviewing their complete financial situation and offering free budget checks to ensure they’re in the best position possible. Find out more information about Your Money Plan.

Customer reviews are helpful in assessing all your home loan options as you gain a true sense of other customer experiences.

Finding a reputable organisation who also has excellent communication skills is essential when purchasing one of the most important assets in your life.

We regularly receive fantastic feedback from our Members, including from first home owners about how easy we make the home loan process. Have a look at some of our Member testimonials below and also here to understand how we guide and work with you when you apply for a new home loan.

Police Credit Union helped me with my journey in buying my first home and helping me to understand every bit of detail I needed in making this first huge purchase that I’ve ever made and I’m so thankful for all their help.

Jeremy, Platinum Member since 2019

I bought my first home through them & they were helpful, friendly & gave me confidence making the experience simple and pleasant.

Rebecca, Member since 2018