Home-Based mortgage and home loan broker

The lender pays you commission when the loan settles, plus ongoing commission while it stays in place. Some brokers also charge a fee to clients for complex cases.

Upfront commission on each settled loan, then a smaller trail commission based on the loan balance. Income builds slowly as your book of past clients grows.

• Explaining money clearly and honestly
• Detailed paperwork and follow-up
• Building referrals from agents, accountants and friends

• You must operate under an Australian Credit Licence or as an authorised credit representative, so check ASIC's requirements
• Best interests duty and responsible lending obligations apply, so keep clear records of why you recommended each loan
• Commission can be clawed back if a loan is repaid or refinanced early
• Income is slow at the start because loans take weeks to settle, so plan some savings
• Professional indemnity insurance and complaints scheme membership are normally arranged through your licensee, so check what is covered

Startup costs are typically around $3,000 to $10,000, depending on your aggregator or licensee arrangements and your home office setup. These are estimates, so confirm what your licensee charges and what insurance it covers.

Monthly revenue is typically around $2,000 to $10,000, depending on how many loans you settle. Income is slow at the start because loans take weeks to settle, so plan some savings. Commission can be clawed back if a loan is repaid early.

You must operate under an Australian Credit Licence or as an authorised credit representative, so check ASIC's requirements. Best interests duty and responsible lending obligations apply, so keep clear records of why you recommended each loan.