Mortgage aggregator lender panels determine which lenders a group can connect you with. AFG publishes 80+ lenders and partners, Finsure more than 75 and LMG 100+ across several lending categories. Your usable panel depends on the lenders that accredit you individually.
Compare the lender names and lending categories below against your settlements. A larger headline count does not tell you whether a group covers the files you write.
What Are Lender Panels?
A lender panel is the group of lenders an aggregator has agreements with. Panels typically include major banks, non-bank lenders, mutual banks and specialists. The panel gives the aggregator a route to lender accreditation for its brokers.
Breadth helps when it covers your clients’ needs. A residential brokerage and a broker writing commercial property or equipment finance need different lender coverage.
Lender Panels by Aggregator
The figures below are each group’s published panel descriptions. Some totals span several finance categories or include partners, so they are not a count of residential lenders alone.
| Aggregator Profile | Published Panel Size | Published Lending Coverage | Where the Group Publishes Its Panel | Commission Schedule |
|---|---|---|---|---|
| AFG | 80+ lenders and partners | Residential, commercial, asset and personal finance, with banks, non-banks and specialists | AFG lender and partner panel | AFG rates |
| Finsure | More than 75 lenders | Home loans, commercial loans and asset finance, including major lenders, non-banks and niche lenders | Finsure lending panel, with lender logos | Finsure rates |
| Connective | More than 70 lenders | Mortgage, commercial and asset finance, including major banks, private lenders, credit unions and mutuals | Connective’s full lender panel, grouped by lending category | Connective rates |
| LMG (Loan Market Group) | 100+ lenders across the group | Residential, commercial and asset finance, from major banks to specialists | LMG’s website publishes the total. Its homepage does not publish a full lender list. | LMG rates |
| YBR Aggregation (formerly Vow Financial) | 35+ on its published accreditation page | Home-loan panel shown on the accreditation page | YBR’s accreditation and panel page. The YBR Aggregation section repeats the Yellow Brick Road panel description. | YBR / Vow rates |
| SFG (Specialist Finance Group) | No total stated on its company profile | Home and investment loans, commercial finance, motor vehicle finance and personal loans | SFG’s company profile describes categories without a lender list. | See the profile for commission arrangements |
| outsource Financial | No numerical total stated on its panel page | Residential, commercial, asset, motor vehicle and equipment finance, personal loans and private funding | Panel Diversity on outsource Financial’s website, with lender and provider logos | See the profile for commission arrangements |
| nMB (National Mortgage Brokers) | More than 30 residential and commercial lenders | Major and regional banks, building societies and mortgage originators | nMB’s supplier panel | See the profile for commission arrangements |
| Astute Financial | No total stated on its mortgage aggregation page | Residential finance, including owner-occupied, investment, reverse mortgages, low-doc, self-managed super fund and non-conforming loans | Astute’s mortgage finance page describes coverage without publishing lender names. | See the profile for commission arrangements |
| Mortgage Choice | More than 35 lenders, as stated on its homepage | Home loans from banks, credit unions, building societies and non-bank specialists | Mortgage Choice’s lender list | See the profile for franchise commission arrangements |
Use the linked commission schedules to see which lenders pay through each group and the published payment terms. A schedule is a separate document from the lender panel. A lender appearing in a schedule does not establish your personal accreditation.
The aggregator directory links to the individual profiles. For fees and support alongside panel access, use the comparison of mortgage aggregators.
Panel Access Versus Your Accreditation
A lender on the aggregator’s panel becomes available for your applications only after that lender accredits you. Your accreditation can cover a particular lending category, so residential access does not automatically include equipment or commercial finance.
Lenders set their own experience and training requirements. NAB’s commercial accreditation requirements include evidence of two years of business banking experience or relevant commercial lending experience.
CommBank’s accreditation process requires its broker training modules and assessment questions. It also lists qualification and industry membership requirements.
Ask about any volume conditions for the accreditation you need. They are not universal: Westpac’s business broker accreditation page states that it imposes no broker volume requirement, but expects regular engagement.
Checking a Panel Against Your Book
The best lender panel for your brokerage covers the lenders and scenarios in your own settlements. Test each panel against that book.
- Export your last 12 months of settlements. Group the loans by lender and lending category, with the number of loans and settlement value for each.
- Mark the lenders you need to retain. Include a lender used for a recurring specialist scenario even if it accounts for few settlements.
- Give each aggregator that list. Ask which lenders it can accredit you with on day one, which require a transfer and which need a new application.
- Record any training or experience conditions beside the affected lender. Plan how you will lodge files while an accreditation transfer is incomplete.
For example, a brokerage’s largest residential lender could be on both panels while its regular commercial lender appears on only one. The second lender changes usable coverage even if the competing panels have similar totals.
For a New South Wales (NSW) file, confirm which lenders on the aggregator’s published panel have accredited you. Then assess the proposed security against each lender’s property and postcode rules. A national panel listing does not establish that a lender accepts the particular NSW property.
Macquarie’s security assessment guidance, for example, uses the postcode to determine the property category and flags restricted or high-density postcodes. Confirm usable access for the actual file before recommending a loan.
Holding two aggregators to widen access doubles administration across commission reports and accreditation records. Read the guide to switching mortgage aggregators before deciding how to manage transfers or a second relationship.
What Sits Around the Panel
Aggregators process commissions and provide compliance templates, lender updates and platform tools. Those services affect the work needed to take a file from assessment to settlement.
Trial the technology on a live file with the appropriate client permissions. Test lender selection and lodgement, then inspect the commission report you receive after settlement. Count the manual steps that remain before deciding whether the platform suits your brokerage.
A Victorian brokerage looking for an aggregator with a wide lender panel needs to count the lenders it can use, not the lenders listed. For each file, confirm that the lender has accredited you, accepts the property’s location and fits the loan scenario under its policy. A panel of 80 lenders can still leave only a few that accept a particular regional Victorian property for that scenario.
Panel size shows the group’s reach. Your accreditation and the lender’s policy decide whether you can submit the particular file.
