Best Mortgage Brokers in Melbourne 2024: A Comprehensive Guide

The cost of housing in Australia is one of the highest around the world, and Melbourne sits in the #2 position just behind Sydney, making it hard for the average Melburnian to get onto the property ladder. Recent statistics show that the average home loan in Victoria is $613,000, which is a substantial amount, particularly for first home buyers. 

The whole process can seem daunting, but with the assistance of a mortgage broker, they can find the best lenders that can offer you the lowest rates based on your circumstances. They will also guide you through the entire process, from the first pre-approval, to collecting the keys to your new home.

In this detailed guide, I introduce to the best mortgage brokers in Melbourne. I have been a property investor for decades, and I have spoken to and used the services of dozens of mortgage brokers. I assess each of them based on customer service, professionalism, experience, and online reviews, and I have compiled this list of the top brokers in 2024. 

My #1 choice is Shaun Bettman from Principal Mortgages. He is extremely knowledgeable and approachable, and has an excellent 5/5 stat rating on Google Reviews from over 120 satisfied customers! 

The Best Mortgage Brokers in Melbourne

#1. Principal Mortgages and Shaun Bettman

Shaun Bettman is the founder and director of Principal Mortgages, the #1 mortgage broker in Melbourne. Shaun established this company 20 years ago, and their experience in the industry is a large part of the reason why they have an extremely high 99.2% approval rate.

Shaun and his team work hard to secure the best possible home loan for each of their customers. They work with over 40 lenders and use one of the most sophisticated software systems in Australia to ensure they can find the best discounts and incentives for new clients, which are significantly better than what is available to the public.

All of the mortgage brokers at Principal Mortgages are Approved Credit Advisers with the Mortgage and Finance Association of Australia, so you can trust that they have the skills and knowledge to help you. They will find the best choice for you, whether you are looking for fixed-rate loans, variable rate loans, or interest-only loans. They also provide comprehensive financial planning and coaching to ensure that you are in the best financial position to buy a home.

Principal Mortgages has a perfect 5 star rating on Google Reviews, based on 122 individual client reviews. This is proof of their ongoing exemplary service.

#2. Soren Financial and Mansour Soltani

Mansour Soltani of Soren Financial has earned a distinguished reputation in Melbourne as a top mortgage broker, particularly noted for his specialisation in first-home mortgages and sophisticated refinancing. With a vast network that includes 45 verified lenders and strategic industry partnerships, Soltani offers a broad spectrum of competitive loan options and superior interest rates.

Soltani's client-centric approach is highlighted by Soren Financial's efficient 5-point approval process, designed to align with clients' long-term financial goals and provide customised loan solutions. This methodology not only ensures a seamless loan application experience but also significantly shortens loan approval times.

Soltani’s dedication to professional excellence and building enduring client relationships is reflected in his accreditation under FBAA and his role as a licensed credit representative. These credentials underscore his commitment to the highest standards of service and reliability in the mortgage brokering industry.

 This commitment is further evidenced by Soren Financial’s outstanding 5-star Google Reviews rating from 72 satisfied clients. Soren Financial's exceptional service and Soltani’s expertise consolidate its position as the second-leading mortgage broker in Melbourne, offering unparalleled guidance and support to homebuyers in the city.

Other Top Mortgage Brokers in Melbourne

My top two recommended brokers in Melbourne in 2024 are Shaun Bettman and Mansour Soltani. However, if you are looking for someone else, these next three names are also excellent mortgage brokers that are popular in Melbourne.

#3. Justin Doobov, Intelligent Finance 

Justin Doobov, the driving force behind Intelligent Finance, stands out as a premier mortgage broker in Melbourne, having catapulted his firm to the forefront of the mortgage broking industry in Australia. Under his leadership, Intelligent Finance distinguished itself in FY21 by setting an impressive record on the MPA Top 100 Brokers list, with a staggering $423 million in home loans written.

Known for their adept handling of intricate lending scenarios, Justin and his team excel in securing financing for a diverse clientele, including self-employed individuals, property investors, and those facing unique financial challenges. Through providing tailored advice and dedicated service, they ensure that clients are not only well-informed throughout the lending process but are also fully satisfied with their loan arrangements, reflecting Justin's commitment to excellence and personalised client care.

#4. Phil Riches, YouHomeLoans

Phil Riches, a seasoned mortgage broker with over a decade of experience in the industry, has become synonymous with excellence at YouHomeLoans. Renowned for his exceptional ability to navigate the complex world of mortgage lending, Phil specialises in catering to a diverse clientele, including first-home buyers eager to step onto the property ladder, property investors seeking to expand their portfolios, and homeowners aiming to optimise their finances through refinancing. His in-depth knowledge of the market and dedication to his clients ensure that each individual receives tailored loan options that best suit their unique financial circumstances, making Phil a trusted advisor and invaluable asset in their financial journey.

#5. Rick Nieuwenhoven, Nieuvision

With an impressive tenure of over 35 years in the finance industry and more than two decades as a mortgage broker, Rick, CEO and Director of Nieuvision has established himself as a venerable figure in the field. His wealth of experience has equipped him with the insight and expertise to navigate the myriad of home loan options available to borrowers. Rick offers a comprehensive suite of loan types to cater to various needs, including fixed-rate loans for those seeking stability in their repayments, variable rate loans for clients looking for flexibility, and low-doc loans, designed to assist self-employed individuals or those with non-traditional income streams. This breadth of offerings underscores Rick's commitment to providing tailored financial solutions that align with his clients' unique circumstances and goals.

Why use a mortgage broker?

Using the services of a mortgage broker can significantly simplify the process of securing a home loan. Especially within Melbourne's competitive property landscape, mortgage brokers offer invaluable assistance by navigating the myriad of lending options available. Their expertise lies in understanding the nuances of the Australian mortgage market, including the specific requirements and offerings of various lenders. This knowledge enables them to match clients with loan products that best suit their financial circumstances and property aspirations. Moreover, mortgage brokers often have access to exclusive deals not directly available to the public, saving homebuyers thousands of dollars over the life of their loan.

Even if you have managed to find a lender with a great rate, the process of applying for and securing a mortgage can be confusing, particularly for first-time buyers in Melbourne's bustling property market. Mortgage brokers streamline this process by handling the paperwork and negotiations with lenders on your behalf. They provide personalised advice, considering factors such as interest rates, loan features, and repayment structures, to ensure their clients make informed decisions. Additionally, because mortgage brokers are paid commissions by the lenders, their services are typically offered with no cost to the buyer. This makes them an accessible resource for prospective homeowners, offering both financial savings and peace of mind during one of life's most significant transactions.

How much does a mortgage broker cost?

Typically, mortgage brokers in Australia do not charge a direct fee to the client for their services; instead, they earn their income through commissions paid by the lenders once a mortgage is successfully finalised. This commission model means that prospective homeowners can benefit from the expertise and services of a mortgage broker without incurring any costs. The specific commission structure can vary, often consisting of an upfront commission based on the loan amount (usually around 0.5% to 0.65% of the loan value) and a trailing commission that is paid over the life of the loan, which averages between 0.1% and 0.2% of the outstanding loan balance annually. It's important for clients to discuss any potential fees or charges with their broker upfront, ensuring transparency and understanding throughout the process.

Main benefits of using a mortgage broker:

  1. 1
    Access to a wider range of lending options, including those not available to the general public.
  2. 2
    Receive expert advice in complex financial and lending matters.
  3. 3
    Saving thousands of dollars by accessing lower interest rates and reduced fees.
  4. 4
    Greater purchasing power with more lender options available.
  5. 5
    Save time and effort as the mortgage broker compares and negotiates with lenders on your behalf.


When looking for a home loan in Melbourne's diverse and competitive market, the role of a mortgage broker cannot be overstated. The best mortgage brokers in Melbourne offer a blend of market insight, personalised service, and access to a wide array of loan options that cater to the unique needs of each borrower. They not only simplify the mortgage process but also do their best to secure the most favourable terms for their clients, potentially saving thousands of dollars over the lifespan of their loan.

Whether you're a first-time homebuyer, looking to refinance, or expanding your investment portfolio, partnering with a skilled mortgage broker can be a pivotal step towards achieving your property ownership goals with confidence and ease.

About the author 

Harold Simmons

Harold is the founder and creator of the Asset Owners Discussion Project. He creates quality resources so investors can get access to information they wouldn't normally be able to access. He has been investing in real estate for almost three decades and is particularly experienced with mortgages and refinancing.

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