Mortgage brokers in Australia access a wide lender panel through their aggregator. An aggregator is an industry intermediary that holds individual accreditation agreements with each lender on behalf of its broker network, allowing brokers to submit loan applications across all panel lenders without needing separate accreditation with each one.
How lender panels are built. Aggregators negotiate directly with banks, second-tier lenders, credit unions, and specialist lenders to achieve accreditation for their broker group. Larger aggregators with more brokers have greater negotiating leverage with lenders, which can result in higher commission rates and broader product access.
Typical panel sizes. The major Australian aggregators — including Connective, AFG, FAST, Vow Financial, Finsure, and others — typically offer panels of 30–70+ lenders. The lender mix includes the major banks (CBA, ANZ, NAB, Westpac), regional and second-tier banks, non-bank lenders, and specialist providers for SMSF, construction, and commercial lending.
Broker accreditation. Even within an aggregator’s panel, individual brokers must typically apply for and maintain accreditation with each lender they wish to use. This involves completing lender-specific training and maintaining annual compliance. Some aggregators manage a large portion of this process on behalf of their brokers.
Why panel size matters for clients. A larger panel increases the probability of finding a lender with policy that suits an unusual client scenario — non-standard income, high debt levels, complex ownership structures, or specialist product needs.
