TL;DR
Mortgage brokers in New Zealand typically earn through commissions paid by lenders, usually between 0.65% and 0.85% of the loan amount upfront, plus a smaller trail commission of 0.15% to 0.20% annually while the loan remains active. Brokers do not usually charge borrowers directly. Earnings vary based on loan volume and lender agreements.
How Much Do Mortgage Brokers Get Paid in NZ? (2025 Guide)
If you’re considering working with a mortgage broker in New Zealand, or entering the industry yourself, you may wonder: how much do mortgage brokers actually make? Let’s break it down simply and clearly.
Mortgage brokers act as intermediaries between borrowers and lenders. Their job is to help borrowers find the most suitable mortgage products, guide them through the application process, and liaise with lenders on their behalf.
In New Zealand, mortgage brokers are typically paid by the lender, not the borrower. The most common payment structure is commission-based. Here is what the main New Zealand banks pay mortgage brokers who refer them lending:
ANZ 0.85% upfront and $150 when the client refixes
ASB 0.85% upfront and $150 when the client refixes
BNZ 0.55% upfront and 0.15% trail commission
Westpac 0.60% upfront and 0.20% trail commission
Kiwibank 0.55% upfront and between 0.15% trail commission
Example of Broker Earnings
For a loan of $500,000:
Upfront commission (at 0.6%): $3,000
Annual trail commission (at 0.20%): $1,000/year
Do Brokers Charge Borrowers in NZ?
Generally, no. The vast majority of mortgage brokers in NZ do not charge borrowers directly. Instead, they rely on lender commissions. However, in complex or non-standard lending scenarios, some brokers may charge a fee—this will always be disclosed upfront.
Read our full guide on mortgage broker fees here.
Factors That Affect Broker Income
Loan Size: Larger loans generate higher commissions.
Loan Volume: More settled loans mean more upfront and trail commissions.
Market Conditions: Rising interest rates or tighter lending rules can affect the volume of new loans.
Is Becoming a Mortgage Broker Lucrative in NZ?
For successful brokers who build strong client bases and settle multiple loans monthly, income can be significant. However, earnings are not guaranteed and depend heavily on performance, networking, and market demand.
Final Thoughts
Mortgage brokers in New Zealand primarily earn via lender commissions, with upfront and ongoing trail payments forming the bulk of their income. While borrowers generally do not pay brokers directly, the broker’s advice and market access often provide immense value.
Frequently Asked Questions
Do mortgage brokers in NZ get paid by banks?
Yes, banks and other lenders pay brokers through commissions for settled loans.
Can mortgage brokers charge borrowers fees?
In rare cases, yes — especially for complex applications. However, most residential mortgages involve no broker fee.
How much does a mortgage broker make per year in NZ?
ANZ 0.85% upfront and $150 when the client refixes
ASB 0.85% upfront and $150 when the client refixes
BNZ 0.55% upfront and 0.15% trail commission
Westpac 0.60% upfront and 0.20% trail commission
Kiwibank 0.55% upfront and between 0.15% trail commission
