Broker Hasn't Called in 2 Years? That's Not Normal, Here's Why It Matters

Key Takeaways                                 

•        A good broker stays in touch and reviews your loan over time, not just at settlement.

•        Years of silence can mean you are quietly overpaying without knowing it.

•        Your broker is often still paid a trail commission while your loan runs.

•        You can switch to a broker who reviews your loan, usually at no cost to you.

If your mortgage broker helped you get your loan and then you never heard from them again, you are not alone, and you might be wondering whether that is how it is meant to work. The honest answer is that a good broker relationship does not end at settlement. If it has been a year or two of complete silence, it is worth understanding what that might be costing you, and what better service looks like.

This article explains what you should be able to expect from a broker, why ongoing silence matters, and what you can do about it. It is written plainly and without pressure. Not every quiet broker has done something wrong, but you are entitled to a loan that is reviewed and looked after, and if you are not getting that, you have options.

Looking after clients well after settlement is a big part of what we do. If you would like to see how we look after our clients, we would be glad to show you at no cost and with no pressure.

What Good Broker Service Looks Like

A broker's job does not finish the day your loan settles; in many ways, that is where the relationship should begin.

Good ongoing service usually means checking in with you periodically, reviewing your rate against the market, letting you know when a fixed period is about to end, and being available when your circumstances change or you simply have a question. It means treating your loan as something to look after over the years, not a one-off transaction. Brokers are also bound by a best interests duty, which requires them to act in your interests, and many take that to include flagging when it might be worth reviewing or refinancing your loan, even though that could mean less income for them. That is the standard worth holding your broker to.

Why the Silence Matters

When no one is keeping an eye on your loan, several things can quietly slip.

The most common is the loyalty tax: lenders tend to reserve their sharpest rates for new customers, so existing borrowers drift onto higher rates over time. A broker who never reviews your loan will not catch that. There are other things a long silence can miss too:

•        Your fixed or interest-only period is ending. These roll-offs can noticeably increase your repayments, and no one is warning you or planning for it.

•        Growing equity is going unused. As your home rises in value or your loan shrinks, you may have options, from a better rate to accessing equity, that no one has raised.

•        Life changes are not reflected. A new job, a growing family, or new goals might call for a different structure that your loan no longer matches.

•        Better-suited products appearing. Loans and features change over the years, and you may be on something that is no longer the best fit.

None of these are dramatic on their own, but together, over a couple of years, they can add up to real money and missed opportunities.

Your Broker Is Often Still Being Paid

Here is a part that many borrowers do not realise.

When your loan is settled, your broker was generally paid an upfront commission by the lender, and in most cases, they also receive an ongoing trail commission for as long as you keep that loan. Importantly, this does not come out of your pocket or add to your repayments; the lender pays it. But the reason trail commission exists is to fund the ongoing service, the reviews, the check-ins, and the help down the track. So if your broker has gone silent for years while still receiving trail on your loan, it is fair to ask whether you are getting the service that the payment is meant to support.

To Be Fair, Not Every Quiet Broker Has Done Wrong

It is worth being even-handed about this.

Some brokers are excellent and simply have a lighter-touch style, and some clients genuinely prefer not to be contacted often. Silence on its own does not prove anything went wrong, and a broker cannot force you to review your loan if you would rather not. The point is not to assume the worst, but to recognise that you are entitled to a loan that is looked after, and that a couple of years without a single review is worth questioning. If you are otherwise happy with your broker, a simple phone call asking for a review may be all it takes.

You Can Switch to a Broker Who Stays in Touch

If you would like more active support, the good news is that changing is straightforward.

You are free to work with a different broker whenever you like, and a new broker can review your existing loan even if they did not arrange it. In most cases, this review costs you nothing, since brokers are paid by the lender rather than by you. A new broker can look at your rate, structure, and features, tell you honestly whether your loan still stacks up, and, just as importantly, commit to keeping an eye on it going forward. You are not locked into a broker who has stopped being in touch.

A Real-World Example: Two Years of Silence

Here is how this often plays out. Treat it as a guide only.

Ben bought his home a couple of years ago with the help of a broker and had not heard from them since. He assumed that was simply how it worked until a friend mentioned their broker reviewed their loan every year. Curious, Ben asked us to take a look.

We found that his rate had drifted well above what was available to new borrowers, and that a fixed portion of his loan had rolled onto a higher rate months earlier without anyone flagging it. A quick review put him back on a competitive footing, this time with someone who will check in each year. Ben's only regret was not looking sooner.

Where to Read More

The Australian Government's MoneySmart explains what happens when interest-only ends, one of the things a silent broker can leave you unprepared for.

Frequently Asked Questions (FAQs)

Is it normal not to hear from my broker for years?

It is not the service you should expect. A good broker treats your loan as an ongoing relationship, checking in, reviewing your rate, and flagging things like the end of a fixed period. Some brokers have a lighter-touch style, and that is not automatically a problem, but complete silence for a year or two usually means no one is keeping your loan in shape. If that sounds familiar, it is worth asking for a review or looking at your options.

Is my broker still getting paid if I never hear from them?

Often, yes. Most brokers receive an ongoing trail commission from the lender for as long as you keep your loan, in addition to the upfront commission paid when it is settled. This does not come out of your pocket or increase your repayments. The point of the trial commission is to fund ongoing service, so if your broker has gone quiet for years while still receiving it, it is reasonable to expect more from them, or to look elsewhere.

What might I be missing if no one reviews my loan?

A few things tend to slip. The main one is the loyalty tax, where your rate quietly drifts higher than what new customers are offered. You might also miss a fixed or interest-only period ending, growing equity that could unlock better options, or a structure that no longer matches your life. None of these are dramatic alone, but over a couple of years, they can add up to real money and missed opportunities that a regular review would have caught.

Can I switch to a new broker for a loan I already have?

Yes. You are free to work with a different broker at any time, and a new broker can review your existing loan even though they did not arrange it. They can assess your rate, structure and features, tell you honestly whether it still suits you, and take over looking after it going forward. You are never locked into a broker who has stopped being in touch, and moving is usually simple.

Does getting a new broker to review my loan cost anything?

In most cases, no. Brokers are generally paid by the lender rather than by you, so having a new broker review your loan usually costs you nothing. On the rare occasion a fee applies, it must be disclosed to you in writing first, so there are no surprises. That means there is little to lose in getting a fresh set of eyes on your loan to see whether it still stacks up.

What should I expect from a good mortgage broker?

You should expect them to stay in touch after settlement, review your rate periodically, warn you before a fixed or interest-only period ends, and be available when your situation changes or you have a question. A good broker acts in your best interests, as the law requires, and treats your loan as something to look after over time. If your broker is not doing this, you are well within your rights to find one who will.

The Bottom Line

A mortgage broker who helps you settle and then disappears for years is not giving you the service you deserve, especially when they are often still paid to look after your loan. Over time, silence can mean a rate that has drifted, a fixed period that rolled off unnoticed, or equity and options left on the table. You are entitled to better.

Being fair, not every quiet broker has done wrong, and a simple call asking for a review may be all it takes. But if you would like a broker who actually keeps an eye on your loan, you can switch whenever you like, usually at no cost to you. If it has been a while since anyone reviewed your loan, we would be glad to take a look and stay in your corner from here on, with no cost and no pressure.