Australia’s largest mortgage broking businesses run national aggregator and franchise networks that reach well beyond processing loans, setting panel policy, technology standards and commission structures for thousands of individual brokers. Knowing who the major groups are, and what each actually does, helps any broker choose an aggregator, a franchise or an independent path with clear eyes.
This guide profiles the biggest names in the industry, explains the difference between aggregators and broker groups, and covers what current market conditions mean for brokers working in their shadows or alongside them.
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The market the big groups operate in
Brokers now write roughly two-thirds of new Australian home loans by value, a share built over a decade of borrowers seeking choice beyond their own bank. Movements in interest rates and the wider housing market swing volumes quarter to quarter, but the structural preference for brokered lending has held through rate cycles. Regulation under ASIC, including best-interests duties and commission rules following the banking royal commission, raised compliance costs and squeezed out part-time operators, consolidating volume toward larger, well-resourced groups.
Who the major players are
Australian Finance Group (AFG) is primarily an aggregator: it supplies the platform, lender panel access and scale behind thousands of independent broking businesses, and it also securitises loans through its own funding arm. Its scale gives member brokers negotiating weight few could generate alone; because the aggregator sits behind those independent businesses, day-to-day customer service stays with each member broker.
Lendi Group grew from a digital-first brokerage into one of the country’s largest broker networks, and now owns the Loan Market franchise brand as well. Its platform automates much of the application process while keeping a human broker in front of the client, and its scale puts it among the top aggregators by settlement volume.
Aussie Home Loans is the best-known retail brokerage brand, built on a national network of storefronts and mobile brokers. Now part of Lendi Group, it remains the entry point many consumers picture first when they think of brokerage rather than a bank branch.
The other household names
Mortgage Choice operates a franchise model with a long history in the industry, positioning itself around whole-of-market choice and financial-planning-adjacent advice. It remains one of the most recognised ways consumers find a mortgage broker in Australia, and its franchisees lean on the brand’s marketing reach when weighing aggregator choice against going independent.
Lydian Financial Services sits slightly apart: rather than writing loans at scale, it provides back-office and compliance support plus technology tooling to broking businesses, including systems built around Customer Relationship Management tooling. Businesses like this matter to the big-group story because they are how smaller brokers stay competitive on service without enterprise IT budgets.
What this means for working brokers
Aggregator choice shapes your whole business, from lender panel access to margins and tooling. Before signing, compare commission rates after aggregator fees, check the breadth of the lender panel, and weigh up CRM and compliance tooling against the training on offer. Brand power helps with lead flow; independence keeps more margin but demands your own marketing engine. Whichever path you take, service depth beats brand recognition for retention, because borrowers return to whoever managed their last rate review well.
Before choosing or switching groups, request written schedules from two or three aggregators covering commissions, fees, tech stack and lender count, then model them against your current book. The right fit shows up in the numbers, not in the pitch deck.
