Loan Market Razor

Loan Market Razor holds a 5/5 rating across 671 public reviews. The provider consistently scores in the top tier of their category.

Loan Market Razor's pricing falls in the "Contact for quote" range. Exact quotes depend on the specific service and scope — request a free written quote to compare before committing.

Loan Market Razor is primarily based in Melbourne, Australia, and serves clients across Melbourne and surrounding areas. Check with the provider directly for specific service-area coverage.

Our independent ranking of the top mortgage broker in Australia includes Mortgage Broker Brisbane - Hunter Galloway, Mortgage Pros, Clarity Home Loans | Mortgage Broker Canberra. Each has different strengths — see our comparison for a side-by-side breakdown.

Mortgage brokers are paid by the lender, not by you. Standard commission: 0.65% of the loan amount upfront plus 0.15% trail commission per year. For a $600,000 loan, the broker receives ~$3,900 upfront and $900/year ongoing. Under Best Interests Duty laws (introduced 2021), brokers are legally required to recommend the loan that's in YOUR best interest, not the one paying highest commission. They must disclose all commissions in writing before you proceed.

Yes — for the borrower in 99% of cases. Some specialist brokers charge fees for very complex deals (commercial, foreign income, bridging finance) — typically $1,500-$5,000, disclosed upfront. The lender pays the broker commission whether you go direct or via broker, so the cost to you is the same. Brokers often negotiate better rates than walk-in customers due to their volume relationships with lenders. There's no downside to using a broker for a standard residential mortgage.

Initial broker assessment: 30-60 minutes (usually free). Lender pre-approval: 2-7 business days for most lenders, 1-2 days for some online lenders. Pre-approvals last 60-90 days. Full unconditional approval after you find a property: 2-4 weeks including valuation. The whole process from first broker meeting to settlement: typically 6-12 weeks for a residential purchase. Broker can fast-track urgent applications — let them know if you're in a competitive auction situation.