When you go directly to a bank, you get one set of products, one set of policies and one rate. When you use Lendology, we compare your situation across 60+ lenders simultaneously — and we're legally required to recommend what's genuinely best for you, not what's most profitable for us.
Not all the differences are obvious. Here's an honest comparison across the factors that actually matter.
| Factor | Going direct to your bank | Using Lendology ✓ |
|---|---|---|
| Lenders available | One — the bank you're sitting in front of | 60+ lenders compared simultaneously |
| Cost to you | Free — but you may pay more in rate | Free — broker paid by lender at settlement |
| Rate competitiveness | Bank's standard rate — not their sharpest | Genuine competition between lenders drives better outcomes |
| Legal obligation | Bank acts in its own interest | Best Interest Duty — legally required to recommend what suits you |
| Self-employed income | Often assessed conservatively by major banks | Matched to lenders with favourable policy for your structure |
| Government schemes | Only if that bank participates | Access to all participating lenders for FHBG, FHG and more |
| Application process | You manage it yourself | Lendology manages everything from lodgement to settlement |
| Credit enquiries | One per bank — multiple applications damage your score | One enquiry — we identify the right lender before lodging |
| After settlement | You're on your own | Lendology monitors your rate and checks in annually |
Since January 2021, mortgage brokers in Australia have been subject to a Best Interest Duty — a legal obligation to act in the best interests of the borrower, not the lender or the broker's own commission.
Banks are not subject to the same obligation. A bank employee recommending a product is recommending their employer's product. A Lendology broker recommending a product is recommending what is genuinely right for your situation — and is legally required to do so.
This is not marketing copy — it is the law. ASIC enforces Best Interest Duty obligations on mortgage brokers across Australia.
Lendology gives you an honest answer — even when that answer is that a broker isn't necessary. Going directly to a bank can work well if:
Book a free chat with Jason or Steve. We compare your situation across our full lender panel and give you an honest answer — with no obligation to proceed.
The information on this page is general in nature and does not constitute financial advice. Given Finance Pty Ltd (t/a Lendology) ACN 624 144 501 is authorised under LMG Broker Services Pty Ltd ACL 517192.