Currently >50% of Australian Home loans are done through a Mortgage Broker.
Mortgage Brokers have access to special pricing discretions through banks and lenders. Using a mortgage broker is a low cost channel for a bank. This is often why a person is able to achieve a stronger rate via a broker than through a branch.
A branch makes more money if the client has a higher interest rate.
A Mortgage Broker’s commission is independent of the client’s interest rate.