Online vs Franchise vs Independent Mortgage Brokers Compared (2026)

The short answer

Australian mortgage brokers fall into four types. Online brokers run most of the process through an app. Franchise networks have branded offices nationwide, with brokers usually working under the franchisor's credit licence. Independent local brokers offer face-to-face service, often under an aggregator's licence. Established direct brokers, such as emoney Home Loans (Australian Credit Licence 386 494, 30+ years), hold their own licence and serve clients nationally by phone and online.

Four types of mortgage broker compared

Typical features of each type. Individual businesses vary, so confirm the details with any broker you talk to.

Licence details can be checked on ASIC’s registers. emoney figures from emoneyhomeloans.com.au and Google, checked 3 November 2026.
Feature	Online broker	Franchise network	Independent local broker	Established direct broker
Examples	Lendi	Aussie, Mortgage Choice, Loan Market	Your local broking business	emoney Home Loans
How you deal with them	Website or app first, phone support	Local branded office, in person or by phone	In person with one broker	Online quick check, then a named broker by phone
Who holds the credit licence	Usually the online broker itself	Usually the franchisor; brokers are credit representatives	Often an aggregator; the broker is a credit representative	The broker itself (emoney: ACL 386 494)
Where reviews live	One national profile	Separate profile for each office	One local profile	One national profile
After settlement	Automated rate alerts are common	Depends on the office	Depends on the broker	Rate reviews by phone; 15 emoney reviewers were offered a lower rate without asking
Best for	Simple loans, people happy to self-serve	People who want a local office with a national brand	People who want one face-to-face relationship	People who want speed and a real person without visiting an office

Credit licensee or credit representative?

Every broker must either hold an Australian Credit Licence or be authorised as a credit representative under someone else’s licence. Both are legitimate and both must act in your best interests. The difference is who is directly accountable: a licensee answers to ASIC for its own conduct, while a representative’s licensee is responsible for supervising them.

emoney Home Loans is a licensee. emoney Pty Ltd holds Australian Credit Licence 386 494, which you can confirm on ASIC’s registers.

Which type of broker suits you?

You want to do it all on your phone: an online broker or an established direct broker.
You want to sit down with someone: a franchise office or an independent local broker.
You want speed and the same person each time, without visiting an office: an established direct broker. 86 of emoney’s positive Google reviews mention fast responses.
Your situation is complex (self-employed, construction, past credit issues): look for long experience and reviews that describe similar cases. See emoney’s reviews for examples.

Whatever type you choose, read its reviews the right way. Our guide to reading mortgage broker reviews covers what to look for, and the seven-point broker checklist covers the rest. emoney is rated 4.8/5 from 265 Google reviews.

Types of mortgage broker: FAQ

What types of mortgage brokers are there in Australia?

There are four common types: online brokers that run most of the process through a website or app, franchise networks with branded offices across the country, independent local brokers, and established direct brokers that hold their own credit licence and serve clients nationally by phone and online.

Is an online mortgage broker better than a local one?

It depends on how you like to work. Online brokers suit people who want to apply on their phone. Local brokers suit people who want face-to-face meetings. Many established brokers now combine both: an online start, then a named broker by phone.

What is the difference between a credit licensee and a credit representative?

A credit licensee holds its own Australian Credit Licence from ASIC and is directly responsible for its conduct. A credit representative is authorised to work under someone else's licence, often an aggregator or franchise group. Both must follow the best interests duty.

What type of mortgage broker is emoney Home Loans?

emoney is an established direct broker. emoney Pty Ltd holds its own Australian Credit Licence (386 494), has 30+ years in home lending, and serves borrowers across Australia by phone and online from its Gold Coast office.