Mortgage brokers often claim to work for FREE because the work they do is paid for by the lender. This is called commission and we share as much of it with you as possible. (Think thousands of dollars, not hundreds).

Borrowers who have used other mortgage brokers tell us our service is the best they have experienced. They are simply stunned that we share so much of our commission. We do it, because as time has proven, we can.

The two most generous options

Mates Rates Mortgage Brokers offers all our clients a choice between the two most generous mortgage rebates available in Australia. We know, because in 2002 we invented Ongoing Rebate Payments which is where we pay ongoing commissions into your pocket. 100% of ongoing commissions and you can’t get more generous than that.

However in response to requests from some borrowers we also introduced  a Single Rebate Payment so now there are two rebate payment options you can choose to receive regardless of what loan features, which product, what loan amount or which lender that best meets your needs from our superwide lender panel.

1. Ongoing Rebate Payments or ORP happen over time and take longer to accumulate
2. Single Rebate Payments or SRP’s happen faster and unlike any other broker, have no strings attached

Add to that, full time, professional mortgage broker help, our exclusive satisfaction guarantee and an established reputation for simplicity, support and savings and you have a recipe for a better mortgage solution at wholesale prices.

A Single Rebate Payment (SRP) is money Mates Rates pays to you from the Upfront Commission we receive from your lender for brokering your mortgage.

When and how much?

An SRP is paid within 60 days of your mortgage settling and is 25% of the entire Upfront Commission received by Mates Rates.

It includes any special discounts or bonuses that affect the Upfront Commission paid by your lender to Mates Rates for your loan.

A bird in the hand.

An SRP is paid to you in the beginning of your loan when your money is most valuable and it’s yours to keep, no matter what happens. Even if the lender initiates a “clawback”.

What’s clawback? It’s complex and it’s nasty. But don’t worry, at Mates Rates, it doesn’t affect you, because you keep your SRP no matter what.

Can I get an SRP and ORP?

Sorry, but we have to pay our staff because we need them to look after you. You can only choose one or the other.