LMG Mortgage Aggregator for Brokers 2026

Loan Market Group (LMG) is a mortgage aggregator supporting brokers under their own business brand or the Loan Market consumer brand. Its current residential choices are Flat Fee, Partner and Loan Market.

Choose the service package that fits your practice and the brand you want to use. The agreement defines your rights and obligations.

Choice Aggregation and PLAN Australia belong to LMG’s aggregation history. They aren’t interchangeable labels for today’s service plans, and a brand name alone doesn’t identify the company contracting with you.

LMG Aggregation and Brand Models

LMG supplies aggregation and business support, while Loan Market is its consumer-facing broker brand. An LMG broker can therefore run an independently branded practice or a Loan Market business. Both help clients arrange finance, but the business presentation and service package differ.

As at October 2026, LMG’s About LMG page describes a family-owned business. It reports a community of more than 6,000 business owners, brokers, advisers and team members across Australia and New Zealand. That regional community figure isn’t a count of Australian mortgage brokers alone.

Own Brand or Loan Market

LMG’s residential service plans, as at October 2026, distinguish these arrangements.

Model	Public commercial structure	Business fit
Flat Fee	Retain 100% of upfront and trail commission, with a flat fee	An independently branded practice wanting control of its own business
Partner	Revenue share, with the percentage reducing as revenue grows	A practice wanting a closer growth-support arrangement
Loan Market	Revenue share under the consumer brand	A business wanting the Loan Market brand and its supporting services

Your brokerage handles the client relationship. The agreement must define who can use client records, who can contact clients and what survives termination. Separate the right to receive trail from rights over the database, referral leads and brand assets.

Under your own brand, your website and client communications identify your practice. Under Loan Market, they also carry the consumer brand. Brand use doesn’t by itself settle client-record ownership or give the broker unrestricted rights over every lead.

What Happened to Choice and PLAN?

National Australia Bank (NAB) records that PLAN Australia, Choice and FAST, including their licensee BLSSA, were acquired by Loan Market Group in March 2021. Its implementation report confirms that completed transaction.

In an August 2023 interview, LMG executive chairman Sam White explained the merger into LMG and the move to service plans. Choice Aggregation and PLAN Australia are therefore legacy aggregation brands within that history. Loan Market continues as the consumer brand.

A broker considering a Choice aggregator or PLAN aggregator arrangement must compare the current LMG plan attached to the offer. A legacy company name on paperwork can still identify a legal entity. It doesn’t establish a separate current service package.

Before appointment, have the offer name the contracting company and the credit licensee. Include the Australian credit licence number, your credit representative status if applicable and each entity supplying paid services. Keep those details beside the plan name.

Your practice then knows who handles aggregation and supervision, and who supplies separately contracted services.

Get written appointment requirements for qualifications, experience, lender accreditations and insurance. Include brand obligations, permitted business activities and any requirements for new loan writers. Your own licence and appointment as a credit representative are different operating arrangements.

Lender Access and Scenario Support

LMG’s pricing page advertises access to 100+ lenders across residential, asset and commercial finance, as at October 2026. That is a multi-category panel. It isn’t a promise of 100+ residential lenders available to every broker.

Network access means the aggregator has a lender relationship. Your accreditation determines whether you can submit to that lender. The borrower’s income, security and loan purpose then determine whether the application fits its policy.

Make a working list of lenders your practice needs. Record each lender’s accreditation status, required training and submission route. A missing accreditation has an operational consequence even when that lender appears on the network panel.

Fictional Example: A Policy Exception

The following example illustrates file handling, with a fictional lender and response. It isn’t an LMG service guarantee or a lender policy rule.

A self-employed client has recently changed business structure. The broker needs to establish whether the lender can consider the earlier trading history. A policy exception would permit a departure from the lender’s standard requirement, subject to its assessment.

1. Record the client’s structure change, ownership continuity and income evidence. Keep the requested loan and security details with the scenario.
2. Research the lender’s current policy through the practice’s available tools. Save the relevant wording and distinguish a standard pathway from an exception request.
3. Send the exception question to the lender’s business development manager (BDM). Use the practice’s LMG support contact to coordinate help or escalation where that service applies.
4. Record the fictional reply: the lender will consider an exception after reviewing evidence that the same business continued. The reply leaves satisfactory income verification unresolved.
5. Lodge through the approved route after accreditation is active. Attach the explanation and the written response, without presenting the preliminary reply as an approval.
6. If the assessor asks for further evidence, assign an owner and deadline. Escalate through the lender’s agreed contact path with the application reference and the exact outstanding condition.

The file note must retain the question, respondent, response date and any limits on the response. Keep an unresolved condition open until the lender confirms how it has been satisfied. Aggregator assistance can help the broker reach the right person, while the lender decides the exception.

For the policy-research step, Bulma quotes the lender wording behind each answer, which you can keep with your file notes. That evidence supports the question you send to the lender. It doesn’t replace the lender’s exception decision.

Platform, Services and LMG Lending

MyCRM is LMG’s customer relationship management (CRM) platform for managing broker work. LMG’s technology page, as at October 2026, describes pipeline tracking, document collection and compliance records. It also describes marketing automation and tools for residential, commercial and asset finance.

Translate those functions into the work your practice must perform.

Function	Broker task	Agreement or operating detail to establish
Pipeline management	Follow a lead through application and settlement	Staff access, task ownership and reporting permissions
Document collection and records	Collect evidence and retain the file history	Storage, retention, export format and client consent process
Compliance support	Prepare records and respond to file reviews	Who supervises your practice and what remains your responsibility
Marketing tools	Follow up clients and manage campaigns	Included services, brand approval and consent controls
Training	Prepare loan writers and support staff for their roles	Course entitlement, qualification requirements and paid extras
Outsourcing	Allocate processing or administrative work	Separate scope, access controls and responsibility for review

LMG’s growth-services page, as at October 2026, describes Brokerversity’s role-based training, recruitment support and LMG Outsource. Outsourcing includes offshore administrative and processing support. These are different services from lender accreditation or a lender’s credit decision.

Assign a named broker to review outsourced work before submission. Give support staff access only to the client information their task needs. The service order must identify deliverables and who handles errors, absences or an unfinished file.

Aggregation and Group Lending Are Separate

LMG Lending is the group’s lending portfolio, separate from the aggregation arrangement. As at October 2026, its product names include Apollo and Zeus, alongside partner offerings such as Thinktank by LMG and Brighten by LMG. The group label alone doesn’t identify the lender or funder for every product.

Read the product documents to identify the credit provider, mortgage manager and servicing contact. Compare the product’s repayment terms, fees and policy fit against suitable alternatives on your accessible panel. Record any group relationship and the remuneration relevant to your recommendation.

The Australian Securities and Investments Commission (ASIC) explains the best interests duty and conflict priority rule in Regulatory Guide 273. When interests conflict, the consumer’s interests take priority. A group-branded product must earn its place through the client’s needs and the product comparison.

Fees, Data, Trail and Exit

Compare LMG’s proposed model using your practice’s annual revenue, staffing and required services. A flat-fee aggregation quote and a branded revenue-share quote cover different arrangements. Equal lender access doesn’t make the full service packages equal.

Use the same expected settlement volume and trail income for each quote. Separate recurring charges from one-off setup or transfer costs. Show the goods and services tax (GST) basis consistently, including whether figures are before GST or include GST.

Build an Annual Comparison

Cost or revenue item	Annual comparison method	Detail needed from the offer
Commission retained by the aggregator	Apply the quoted split to the same expected upfront and trail revenue	Tier thresholds, eligible revenue and clawback treatment
Fixed aggregation charge	Convert the quoted billing period to one year	Minimum charges and any annual adjustment
Brand and marketing costs	Include compulsory charges and separately chosen campaigns	What the brand package includes and what costs extra
Technology and staff access	Count all required users and separately billed services	Included access, usage limits and integration charges
Optional processing or outsourcing	Apply the quoted billing unit to expected work volume	Per-file, hourly or staffing basis and minimum commitments
Setup and transfer	Show once in the first-year total	Data migration, onboarding and accreditation work

First-year cost equals recurring annual charges plus setup costs and the aggregator’s retained commission. For later years, remove the one-off setup costs. Keep expected clawbacks as a separate risk line so a cost comparison doesn’t disguise repayment exposure.

Use the mortgage aggregator comparison to compare other arrangements on the same basis. Keep the annual cost calculation beside the services your practice would actually use.

Turn Exit Terms Into a Continuity Plan

As at October 2026, LMG’s pricing page states 14 days’ notice, no lock-ins and that brokers keep their trail book when leaving. Obtain the corresponding clauses for your proposed agreement. The operational handover must also address client records and files still in progress.

Written term	Continuity plan for your practice
Client records and permitted use	Identify who retains records and who can contact each client after exit
Trail ownership and payment	Name the paying entity, transfer process and deductions that can continue
Live applications	Allocate the broker handling each file, with lender agreement on its submission identity
Notice and termination date	Set a date that leaves time for settlement conditions and access changes
Brand removal	Schedule website, email, signage and client-document changes
Data exports	Include attachments, notes, consent records and task history in the required format
Post-termination access	Define access duration, read-only rights and how later records are obtained
Complaints and record requests	Name who handles historical files and supplies supporting documents

For a live application, record its next condition, deadline and contact before changing access. If a document export is incomplete, arrange the remaining records while access is active. A trail-transfer promise alone doesn’t keep a settlement file moving.

Build the file-by-file handover using the aggregator switching guide. Choose the LMG model whose written service package fits your practice, with an annual cost comparison and a workable handover for every open file.