Your Rights as a Borrower

Responsible lending obligations

Brokers and lenders in Australia are subject to responsible lending obligations, meaning they need to assess whether a loan is suitable for your needs and financial situation before recommending or approving it.

This generally involves the broker asking about your income, expenses, existing debts, and what you're trying to achieve — for medical professionals, this often includes irregular income patterns, locum work, or practice ownership structures that a generalist broker may not be familiar with.

Fees and disclosure

Brokers are generally required to disclose how they are paid (commonly via commission from the lender) and any fees charged directly to you. It is reasonable to ask a broker to explain their fee structure upfront before proceeding.

Getting a second opinion

There's no obligation to proceed with the first broker or lender you speak to. Comparing options — including brokers who specifically work with medical professionals — is a normal part of the process.