A valuable investment – for you, your family and your future

One of the most frequently questions we get asked is 'How do I get paid?' and 'What income can I expect?'. A Mortgage Choice franchise is a high-value, and highly rewarding, investment with the potential to generate exceptional returns.


Initial investment

Your Mortgage Choice franchise is a high-value, and highly rewarding, investment with the potential to generate exceptional returns.

It’s a marketable asset – a business you can grow through your own efforts, and an important investment for your future.

Your franchise can also be a true family legacy. Many of our franchisees employ family members. Others choose to hand their business down to their adult children to help the next generation build wealth.

Investment includes:

  • Marketing starter kit
  • Marketing support package
  • Creating and hosting of website with calculators
  • Setting up email account
  • Software - CRM and Broker Platform
  • Professional photos for website and social media
  • Unlimited access to professional videos describing loan structures and brokers responsibility
  • Accelerate / training (mentor)
  • Admin - drawing up of legal franchise agreement
  • National conference
Initial investment for a new franchise $24,850 excl. GST 1
Initial investment for an existing franchise please enquire

Book an appointment with our franchising team today.


Mortgage broker commission & remuneration package


Our unique hybrid trail commission structure caters to the needs of franchisees throughout the business lifecycle - from start-up to an established business. Further, trail and upfront commission rates grow as your business grows.



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Mortgage Choice is a full service franchise offering. Not only do you get the benefits of operating under a national, well recognised and trusted brand, you’ll also receive support in the following areas.

  • Best of breed, purpose built mortgage broking software.
  • Marketing programs and tools including a personalised website, centralised email marketing programs and a wealth of local area marketing tools.
  • Compliance support.
  • Business planning.
  • Loan submission coaching.
  • Industry leading training.
  • Professional development days, state and national conferences.
  • Other revenue generation opportunities including the ability to refer your customers to a Mortgage Choice financial adviser.

Find out more about our support.



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How do mortgage brokers get paid?

Our services is at no charge to our customers

At Mortgage Choice, our home loan service is at no charge to our customers because the lenders pay us a commission on the loan on settlement. This doesn't affect the deal that our customers get from the lenders.

We pay the same rate of commission

Mortgage Choice pays a commission to the broker who settled the home loan. Different lenders pay different commission. Some pay more than others. But at Mortgage Choice we pay our brokers the same rate of commission, no matter which home loan the customer chooses from our panel of lenders.

With other mortgage brokers, that’s not always the case. Many of the major mortgage broking groups in Australia simply pass on the different rates of commission to their brokers.

Why is this important?

When our potential customers are thinking about using a mortgage broker, we prompt them to think about whether other brokers get paid more for recommending one lender over another.

At Mortgage Choice, we give our customers peace of mind that we have their best interests at heart as we provide them with expert home loan advice at no cost to them.

Become a Mortgage Choice broker

What are the recommendations for the mortgage broking industry in the Royal Commission’s final report?

The Royal Commission recommended the law be amended to require mortgage brokers to act in the best interests of the customer. The Government has agreed with this recommendation but has given no indication of when the Best Interests Duty will apply to mortgage brokers. Mortgage Choice is supportive of the recommendation and believes mortgage brokers already act in their customer’s best interests.

The Final report of the Royal Commission made two recommendations regarding how a broker gets paid:

    • borrowers, not lenders should pay brokers and;
    • lenders should be prohibited from paying trail commission to brokers.

Mortgage Choice is disappointed by these recommendations and believes Commissioner Hayne has gone too far. If implemented, these changes to broker remuneration could have significant impacts on competition in the home lending marketing, ultimately leading to poor outcomes for consumers. Both sides of Government have shown support for the sustainability of the mortgage broking industry and acknowledged that a borrower pays fee would have significant impacts on competition within the home lending market. The borrower pays option appears to be off the table for now. However, we are likely to see a change to the trailing commission model.

The Royal Commission’s final report also recommended that after a period of transition, mortgage brokers should be subject to and regulated by the law that applied to entities providing financial product advice to retail clients.  

Mortgage Choice is supportive of the recommendation to move to a Best Interests Duty for mortgage broking. The Best Interests Duty already applies to the Mortgage Choice Financial Planning business, so putting these changes into effect will be easier for our broking business than it will be for other mortgage aggregators.

It is important to acknowledge that at present, there is no legal definition of a Best Interest Duty in mortgage broking. We believe that Mortgage Choice brokers generally act in the best interest of their customers, however a legislative change means that mortgage brokers would be required by law to act in the best interests of their customers and keep documentation to prove they have done so.

We believe we are well placed to support our franchisees should the recommendation around best interests duty become law for two key reasons.

Mortgage Choice has leading industry compliance and IT platforms, which allow our brokers to deliver good customer outcomes.

As the franchisor, Mortgage Choice holds an Australian Credit Licence which means we are legally required to keep all documentation pertaining to a loan, which we keep in a cloud based software.

Our industry leading IT software, launched last year, enables our brokers to more efficiently model a transaction and structure a loan scenario to understand a customer’s borrowing capacity and select a suitable home loan product for their needs.

The flexible nature of the Broker Platform software allows collaboration between our agile IT team and in house Lending and Compliance expertise. This enables Mortgage Choice to quickly and seamlessly change or enhance the platform to meet the requirements of legislative changes around best interests duty.

Trail

What we know so far is that both sides of government have agreed to prohibit the payment of trailing commissions from lenders to brokers for new loans from 1st July 2020. Upfront commissions to be linked to the amount drawn down and volume based incentives will be banned. Trailing commissions on existing loans remain.

At this stage, it is not clear what a future remuneration model will look like. Mortgage Choice is supportive of the current trail commission model.

We have called on the Treasurer to consult with the industry to ensure an orderly and consultative approach to any changes to remuneration structures are fair for both brokers and aggregators.

We believe that changes to trail commission would need to be met by a increase to the upfront commission paid and would need to be commensurate with the current total commissions received under an upfront and trail structure. If the upfront is not commensurate, the broking industry will shrink leaving consumers with less choice, less access to credit and give more power to the big banks which is likely to lead to higher interest rates.

Labor have tabled an option - an upfront of 1.1% paid on the drawn down loan amount and no trail. Whilst this is a starting point, the devil will be in the detail and there are still a lot of conversations to be had.

Furthermore, it is important to note that the recommendations in the final report refer specifically to home lending. Mortgage Choice has a diversified product offering, which includes commercial loans, car loans, asset finance, which provides multiple revenue streams to our brokers.

Borrower pays

Both sides of Government have shown support for the sustainability of the mortgage broking industry and acknowledged that a borrower pays fee would have significant impacts on competition within the home lending market. The borrower pays option appears to be off the table for now.

Independent research has revealed that the majority of customers would not pay to use a broker, and those who would, would not pay more than $2000*. To level the playing field, lenders would also need to charge a fee to a customer for originating a home loan. This would increase the cost to the customer by thousands of dollars – a very poor customer outcome.

We believe that adding more costs in the form of an upfront fee paid regardless of whether the customer goes to a broker, or directly to a lender, cannot possibly be a good outcome for consumers.

Fees could prove to be a deterrent for refinancing and switching to a better financial product if the interest savings don’t offset the switching costs. These changes will result in poor consumer outcomes, which is not in line with the original intentions of the Banking Royal Commission.

However, as per the Royal Commission recommendations, the Government will ask the Council of Financial Regulators and the ACCC to review the implications of a borrower pays fee on consumer and competition in three years time. Sense will no doubt prevail.

While we can’t say what the future holds, what we do know is that we are adaptable and resilient. Mortgage Choice has been established for over 25 years and we have been able to adapt throughout major change in the economy and property market. Our business model is mature, with a strong operational backbone; robust compliance processes and a single Australian Credit Licence and Australian Financial Services Licence.

Mortgage Choice will continue to fight for consultation with the mortgage industry and for the future of the 17,000 broking businesses across the industry, the future of Mortgage Choice and most importantly, the future of Australians.


1 Price guide only, please contact us for more information.

Additional costs:

  • Certificate IV $350
  • Diploma $490
  • Police, background & bankruptcy check $150

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