A mortgage broker is a licensed professional who acts as an intermediary between you and lenders. Instead of applying to one bank directly, a broker compares options from their panel (typically 20–50+ lenders) and recommends the most suitable product for your situation.
For most borrowers, yes. Brokers are paid by the lender (upfront commission ~0.60% of loan amount). Some specialist brokers may charge additional fees — always confirm in writing.
Often yes, sometimes no. Brokers can negotiate using combined volume and identify promotional rates. Some online lenders only offer sharpest rates direct.
Generally yes — a good broker simplifies the process, explains FHB grants and schemes, identifies suitable lenders, and manages the entire application. You're not paying them directly.