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Brokers vs personal banking

The reason why we don’t use mortgage brokers

At Police Credit Union, we pride ourselves on offering personalised banking service and competitively low rates.

Although many people consider using a broker, here’s the reasons why we don’t work with mortgage brokers: 

Our profits go back into offering lower rates

By not paying commission to mortgage brokers, we are able to reinvest our profits into providing competitively low home loan rates to our Members.

We offer a personalised and guided banking service

At Police Credit Union, we pride ourselves in offering a customer service experience second to none. If you’d like to work with us for your first home purchase or a refinanced home loan, you will have access to a lending specialist who will support you to find the best home loan for your specific needs. By talking directly to us, you’ve streamlined your communication process by removing the fuss and extra work of having a middleman. Plus, our team will work with you every step of the way, from finding you a home loan to suit your personal needs, to guiding you through the application process and answering any questions you may have along the way. 

Brokers can make decisions based on what works for them

Brokers make commission from the lender you choose, and many WILL NOT recommend a lender if they do not receive commission from their recommendation.

Brokers may not know their recommended products well and their recommendation may not have the features you need

In many cases, most brokers are considering varied and numerous products from several lenders, and so they may not know all the specifics of their recommendation including the available features.

Our lending products are streamlined and designed with features with our customers in mind, for example our variable home loan products offer 100% offset accounts, and many of our other products offer free redraw, $0 monthly and $0 annual fees 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 that are designed for over 60s for the next stage in your life. Consider whether the product you choose has all the features you need.

Brokers may not be working independently

If you do consider working with a broker, investigate whether they are truly independent and not connected to a financial planner or property developer that is looking for customers to invest in their specific property or stock options for their own profit. Research whether the broker has a good reputation and how their commission and payment structure works.  

We look at our customer’s complete financial situation

At Police Credit Union, we support our Members through the home loan application process including reviewing their complete financial situation and offering free budget checks.

Looking for a reputable organisation? Consider customer reviews.

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 to work with that has excellent communication skills is essential when purchasing one of the most important assets in your life. Police Credit Union 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

Find out more about our home loan rates.


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