How John gets paid (the question everyone wants to ask)
Most people wonder how a mortgage broker earns money and whether that shapes the advice they get. Fair question. Here is the honest answer, including the part most brokers do not bring up.
Last reviewed: July 2026 · By John Carson-Zangor, credit representative 537545
The short answer
In most standard home-loan cases, the lender pays me a commission after your loan settles. You do not pay me for my work on a typical residential home loan. If any fee would ever apply to you in your specific case, you would be told in writing before you commit to anything. No surprises, no fine print sprung on you at the end.
Does that make the advice biased?
It is a reasonable worry, so here is what actually keeps it honest. The law says I must act in your best interests - mortgage brokers in Australia are bound by the Best Interests Duty, a legal obligation that puts your interests ahead of mine. Commissions are broadly similar across lenders, so there is no meaningful pay rise for me in steering you toward one lender over another. Every recommendation I make must be documented with reasons, on file, that show why that lender and that loan fit your situation. And you can check my work: what a lender pays is disclosed in your credit documents, so you see it for yourself before you sign anything.
Clawback, honestly
Here is the part most brokers skip. If a loan is repaid or refinanced very early, lenders can take the commission back from the broker. It is called clawback. I tell you this for one reason: it explains why brokers care about recommending loans that actually last, not loans that look good for five minutes. A loan that suits you long term is the only outcome that works for both of us. And either way, clawback costs you nothing - it sits between the lender and me.
What an initial conversation costs
Nothing. An initial conversation has no broker fee, does not require a credit enquiry at the first step, and comes with no obligation. You tell me what you are trying to do, I tell you where you stand and what the sensible next step looks like. If the answer is "wait six months", that is the answer you get. If you decide not to proceed at all, you owe nothing.
No broker fee for an initial conversation. No obligation. No credit enquiry at the first step. I aim to respond by the end of the next business day. If now is not the right time for you to borrow, I will say so plainly.
Who John answers to
I do not operate in a vacuum. I am a credit representative (537545) of QED Credit Services Pty Ltd, which holds Australian Credit Licence 387856. I operate as a Nectar Mortgages broker. And if you ever had a dispute we could not resolve between us, you can take it to the Australian Financial Complaints Authority (AFCA), a free and independent external dispute resolution scheme. Details are on my complaints and AFCA page.
Frequently asked questions
Do I pay you anything?
In most standard home-loan cases, no - the lender pays me a commission after your loan settles. If any fee would ever apply in your specific case, you would be told in writing before you commit to anything. An initial conversation has no broker fee, with no obligation and no credit enquiry at the first step.
Do you push certain lenders?
No. The law requires me to act in your best interests under the Best Interests Duty. Commissions are broadly similar across lenders, every recommendation must be documented with reasons, and the commission a lender pays is disclosed in your credit documents, so you can see it for yourself.
What if I do not proceed?
Nothing happens. You owe nothing. I am only paid by a lender if a loan settles, so if you look at your options and decide not to go ahead, it costs you nothing and there is no pressure to continue.
Still have a question about how it works?
Ask John directly. Straight answers, with John aiming to respond by the end of the next business day.
General information only, not credit advice. Your circumstances, lender criteria and responsible lending requirements apply. John Carson-Zangor is an authorised credit representative (Credit Representative Number 537545) of QED Credit Services Pty Ltd (Australian Credit Licence Number 387856).
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John Carson-ZangorDirect help from a residential mortgage broker based in Bethania, Logan.