Mortgage broker referrals for accountants

A structured mortgage broker referral program can turn everyday client conversations about home loans into better outcomes for clients and a new income stream for your firm. This guide explains what these programs are, how they fit into an accounting practice, and how different referral structures compare. You will see simple Australian examples that show how the numbers work at a high level. The article also explains how referrals are tracked, how commission sharing works, and how a modern, AI enabled partner like Cromeloan makes the process smoother. By the end, you will know the practical steps to launch or improve a home loan referral program in your own practice.

Key takeaways

• A clear mortgage broker referral program turns casual loan questions into a consistent client service and income stream.

• The best home loan partners fit neatly into existing client meetings, reporting cycles and firm workflows.

• AI enabled referral models help clients compare options faster, while your firm tracks every step from enquiry to settled loan.

• Cromeloan gives accountants a flexible way to share commissions, protect client trust and grow advisory value.

What is a mortgage broker referral program

At its simplest, a mortgage broker referral program is a formal way for your firm to introduce clients to a trusted broker when home loans come up. Instead of ad hoc introductions, you agree on a clear process, service standard and how your firm is recognised for the referral. In many cases this is called a mortgage broker referral program and it can sit alongside your existing tax and advisory services without adding heavy workload.

In practice, there are three moving parts. First, your client, who needs a new loan or wants to review an existing one. Second, the broker or mortgage partner who can access multiple lenders. Third, your firm, which makes the introduction and stays in the loop. A good mortgage referral program will spell out how leads are shared, how updates are reported back to you, and how client data is protected. The aim is simple. Clients get better informed choices while you deepen the relationship.

Here is a simple Australian example. A client wants to buy a $700,000 home in Adelaide with a 10 percent deposit of $70,000. You refer the client through your agreed process. The broker compares a panel of lenders, finds a competitive structure, and keeps you updated. Your client gets their new home with a suitable loan. Your firm receives a share of the broker’s upfront commission, without charging the client extra. Over time, these referrals can add up to a steady new revenue line.

A structured approach also reduces risk. Instead of each partner having their own informal contact, the firm sets a standard. You choose one or more partners based on service quality, product range and alignment with your values. A modern mortgage loan referral program will also include tools like simple calculators or digital fact finds so clients can engage at their own pace before they speak to a human.

Checklist: Understand the basics

• Map where home loan questions already show up in your client meetings.

• List brokers or home loan partners you already use and how informal referrals work today.

• Decide what “good client experience” looks like for your firm in a referral scenario.

• Confirm who in the firm owns the relationship with the chosen mortgage partner.

What this means for Buyers

• Buyers can move from “thinking about buying” to a clear borrowing range in days, not weeks.

• A structured program helps first home buyers understand deposit size, costs and repayments using plain language.

• Clients can compare several lender options without feeling pressured to pick the first offer.

• Buyers stay connected to their accountant while they sort finance, instead of disappearing into a bank branch.

Quick Q&A

Q: Is a mortgage broker referral program only for large firms?
A: No. Even a single accountant or small business practice can benefit. The key is to have a clear process and one main contact for the mortgage partner so referrals feel simple and consistent.

Q: Will our clients pay more if we set up a referral arrangement?
A: No. Clients do not pay extra because of the referral arrangement. With Cromeloan, the lender pays a commission when a loan settles, and Cromeloan shares part of that commission with the referring firm. The only costs your client may pay are normal lender charges such as application fees, valuation fees or discharge fees, and these would still apply even if the client went directly to the lender. Your client will receive competitive options, clear disclosure of any lender fees, and a simple explanation that “the lender pays us, not you”, so they know the referral does not make their loan more expensive.

How a broker referral program fits into an accounting firm

For most firms, home loans already sit in the background of client conversations. Clients talk about upgrading the family home, buying an investment property, or feeling squeezed by repayments. A broker referral program simply gives your team a structured pathway when those topics arise. Instead of saying “go talk to a bank”, you can say “we have a partner who can help you compare options properly”. That turns a casual chat into a service moment.

A good broker referral program fits into existing touchpoints. Tax time, planning meetings, cash flow reviews and SMSF discussions all surface property questions. Your team can use light screening questions to decide if a referral makes sense. For example, an annual review might reveal a client with a $600,000 owner occupied loan at 7 percent. If the market is closer to 6 percent for similar risk, a referral could save that household roughly $6,000 a year in interest. That is a meaningful result your firm helped unlock.

The program should also fit your internal roles. Partners want confidence in quality and compliance. Managers and seniors need clear triggers and scripts. Support staff need a simple way to log and send referrals. The right home loan partners will give you templates, emails and even client facing tools branded in your colours so the process feels part of your firm, not bolted on. Cromeloan, for example, is built to act as the behind the scenes engine while your brand stays front and centre.

This is also where a broker referral program can reinforce your positioning as a holistic adviser, not just a tax technician. When you can connect a client to lending help, super advice, and broader planning support, you become the first call when life changes. Over time, the recurring referral income becomes a natural extension of that broader service mindset. You are not selling loans. You are solving a key part of the client’s financial puzzle.

Checklist: Embed into your workflow

• Identify 3 to 5 common meeting types where property and loans are discussed.

• Draft simple referral prompts for staff, such as “Have you reviewed your home loan rate in the last two years?”.

• Set a standard form or digital link that staff complete when a referral is made.

• Decide how you will track follow ups and outcomes in your practice management or CRM.

What this means for Current borrowers

• Clients with existing home loans can have their rates reviewed without needing to chase a bank themselves.

• Households feeling repayment pressure get a structured next step instead of a vague promise to “look into it”.

• Good outcomes reflect favourably on your firm, which can strengthen client loyalty and referrals.

• Even when a client’s current loan is already competitive, you gain credit for checking.

Quick Q&A

Q: Will a broker referral program create lots of extra admin for our team?
A: No. Cromeloan has been designed to fit your existing business processes and client values. Clients can be referred electronically through your branded AI agent, your branded tools, or even by email to your dedicated broker contact. Once a client is referred, Cromeloan looks after the rest so there are no extra day to day tasks for your team. You receive weekly updates on referral progress, and you can check the status of every client at any time through secure CRM access. Cromeloan may reach out to you to validate client financials where the client has authorised us to do so, but this is handled in a simple, low effort way.

Q: Do we need to train our staff to give loan advice?
A: No. Your staff do not need to give loan advice. They only need to recognise when a referral makes sense and be able to explain the simple Cromeloan process. We have created tools tailored to accountants that help bring home lending into natural client conversations, such as reviews, tax time or planning meetings. These tools help identify opportunities without your team needing to talk products or rates. Once a client is referred, the licensed broker and Cromeloan platform handle all credit advice and loan recommendations.

Common structures for mortgage referral partners

Not all referral partners for mortgage brokers are built the same. Some firms still rely on a single bank relationship. Others work with a traditional broker who manually manages each case. Newer options use an AI enabled engine, like Cromeloan, to give clients rapid access to many lenders at once. Understanding these structures helps you choose the right fit for your practice.

The simplest model is a single bank arrangement. It can feel tidy, but it limits choice. If a client in Sydney wants to borrow $500,000 with a 5 percent deposit, that one bank may not be the best fit for their income type or risk profile. A multi lender broker can often find more suitable choices, including niche options for self employed clients or investors. This is why many firms now look for mortgage referral partners who can access a broad panel.

Some firms use what you might think of as a partners mortgage model, where a senior partner has a long standing personal relationship with one broker. This can work, but it is hard to scale and can create key person risk. A better approach is to formalise the relationship so the whole firm can refer with confidence. An AI enabled mortgage partner like Cromeloan takes this further. It can run a full fact find, assess serviceability against thousands of options, and present tailored choices to your client in minutes, not weeks.

Over time, a partners home loan arrangement that uses technology to support both your team and your clients can become a quiet engine in the background of your practice. Clients feel that your firm has “sorted finance” without needing you to become a broker. Your team get clear updates and reporting. And you retain flexibility if you ever want to bring on an additional mortgage partner for specific niches.

Checklist: Choose the right structure

• Decide if your clients need access to many lenders or one main brand.

• Ask potential partners how they assess serviceability and match products.

• Check whether the referral process is digital, trackable and easy for staff.

• Confirm what reporting you will receive on leads, approvals and settled loans.

What this means for Buyers

• Buyers can see a spread of options that reflect their real situation, not a one size fits all product.

• AI supported assessments can give a faster yes or no, which helps with auction deadlines and private treaty offers.

• Clients with unusual income patterns, like contractors, can be matched to suitable lenders instead of being turned away.

• A clear structure makes it easier for buyers to understand who does what your firm, the mortgage partner and the lender.

Quick Q&A

Q: Is an AI enabled mortgage referral program safe for our brand?
A: Yes. Our AI agent, built by Craggle, is designed with trust and compliance at its core. It runs on a battle tested platform with risk and compliance controls built into its foundation. We use market leading PII obfuscation techniques that separate sensitive client information from the financial scenario, which helps protect client privacy. The system has been rigorously tested to help withstand and prevent common attacks, and it has passed a major bank technology audit, showing that it can meet very strict security and governance standards. Your firm keeps control of the client relationship while the technology safely does the heavy lifting in the background.

Q: Can we work with more than one mortgage partner at a time?
A: Yes. It is common practice, especially when your clients have a mix of lending needs. Many firms keep a traditional broker or niche partner for areas like complex commercial deals or specialist asset finance, where a standard mortgage broker may not be able to assist. Cromeloan can support a broad range of needs, including home loans, investment loans, SMSF property loans, asset finance, and business and commercial loans. The key is to keep a clear, simple process for staff so they know when to use Cromeloan and when to use any other specialist partners you work with.

How referrals are tracked from first contact to settled loan

Once you start sending referrals, tracking becomes critical. You need to know which clients have been introduced, what stage they are in, and what has settled. A good mortgage referral program will treat each lead like a mini project with clear steps. That protects the client experience and gives your firm reliable data for planning.

Typically, the journey runs from first contact, to pre assessment, to full application, to approval, to settled loan. Along the way there may be loops if documents are missing or if a different product is recommended. A modern platform like Cromeloan can show you this pipeline in a dashboard. You might see that ten clients were referred in a quarter, eight reached application stage, six settled, and two are still comparing options. With average loan sizes, you can start to forecast referral income.

Take an example. Over six months, your firm refers 12 clients in Melbourne and Brisbane. The average loan size is $550,000. Nine of those clients settle new loans or refinances. With a consistent status feed from your mortgage partners, you know exactly which cases landed and when. You can then link this back to the original adviser or team that made each referral. That supports fair recognition across the firm.

Clear tracking also lets you manage client communication. If you can see that a client is stuck at “documents requested” for two weeks, you might have their adviser check in. This is how good mortgage partners become part of your service rhythm instead of an invisible third party. Over time, patterns in the data can also highlight which segments respond best to help, such as first home buyers, upgraders or current borrowers under rate pressure.

Checklist: Build a simple tracking view

• Ask your mortgage partner what referral status updates they can provide.

• Decide how often you want summary reports monthly, quarterly or both.

• Set up a simple sheet or dashboard that lists client name, stage and loan outcome.

• Agree internal rules on who follows up clients if applications stall.

What this means for Current borrowers

• Clients know you are still in the loop after the introduction, which builds trust.

• You can see which clients moved from an enquiry to an actual rate change or product switch.

• The data helps you spot households who might need further support if a refinancing attempt falls through.

• Over time, you can refine who you refer and when, to avoid wasting client time.

Quick Q&A

Q: Do we need new software to track referrals?
A: No. With Cromeloan you receive secure access to our CRM, so you do not need to buy or install new software. You can see every referral, where each client is in the process, which Cromeloan lender is supporting them, and key dates and outcomes. The CRM also includes a suite of reports so you can monitor volumes, conversion and commission, and export data for use in your existing practice systems if you wish.

Q: How detailed should referral reporting be?
A: Reporting should be detailed enough to show the stage, outcome and key dates for each referral, without drowning your team in credit jargon. You want clear, simple labels that advisers, partners and support staff can understand at a glance. That is exactly how Cromeloan reporting is designed. Through your secure access to our CRM you have a clear, simple view of every referred client, where they sit in the application pipeline, which lender is supporting them, and the final outcome once the loan settles. You can also use built in reports to review trends over time without needing to learn a new system or language.

How the money works in a mortgage loan referral program

Money is often the awkward part of the conversation, so it helps to keep the model simple. In most cases, the lender pays the broker a commission when a loan settles. The broker then shares part of that commission with your firm under your mortgage loan referral program. The client should not be charged extra because of the referral, and this should be explained clearly.

Here is an example with round numbers. A client refinances a $500,000 loan. The broker receives an upfront commission from the lender. Suppose that equates to $3,000. Under your agreement, your firm might receive $1,000 of that as a referral fee. There may also be a smaller ongoing “trail” amount each year while the loan remains in place. Over a portfolio of 30 or 40 settled loans, this can create a meaningful income stream that helps offset your fixed costs.

Transparency is key. Clients should know that your firm receives a benefit from the introduction. This is no different from other professional referral arrangements, but it needs clear wording. A well structured mortgage referral program will include standard client explanations and disclosure wording so there is no confusion. Many Cromeloan firms also choose to reinvest a portion of referral income into client benefits, like fee discounts or bundled planning services.

A partners mortgage arrangement that leaves commissions sitting with the broker alone may be familiar, but it misses this opportunity. When you use a formalised mortgage partner, you can design how referral income is shared, recorded and used. Over time, this can become a stable secondary revenue line that supports investment in better tools, extra staff or client education events. The key is to treat it like any other part of your business model planned, measured and explained.

Checklist: Keep the money simple and clear

• Ask potential partners to explain how commission and referral fees are calculated.

• Decide how your firm will use referral income profit, client rebates, or a mix.

• Create a short standard explanation you will use with every referred client.

• Confirm how and when payments will be reported and paid to your firm.

What this means for Buyers

• Buyers understand that your recommendation to seek lending help is based on service, not hidden fees.

• A clear model makes it easier for clients to compare your approach with direct to bank offers.

• Referral income can fund extra support for buyers, like budgeting sessions or deposit planning.

• Clients see that you are investing in tools and partners that add real value, not just chasing a one off mortgage referral.

Quick Q&A

Q: Does sharing in commission affect the rate the client receives?
A: No. In Australia, mortgage brokers are generally paid by the lender, not the client. The lender pays a commission when a loan settles, and with Cromeloan that commission is simply shared with the referring firm. The interest rate and standard lender fees are set by the lender and would be the same whether the client went through Cromeloan or went to that lender directly. Broker commissions are treated as a distribution or marketing cost for the bank, not an extra charge added on top of the client’s rate. These commissions must be disclosed in the loan documentation so clients can see how the broker is paid in plain language.

Q: Can we choose not to receive referral fees at all?
A: Yes. Cromeloan is flexible in how commission is shared. If your firm prefers not to receive referral income, the commission Cromeloan receives from the lender can be directed elsewhere. It can be donated to a charity or cause your firm supports, or even passed through as a direct benefit to your client. This lets you align the referral model with your ethics, brand positioning and client promise, while still giving clients access to the same lending support.

Traditional broker referral program vs Cromeloan

Traditional models rely on a single broker or small team, often with manual processes. You refer a client, then wait for updates by email or phone. Product research happens in separate systems. Reporting is often patchy. This kind of broker referral program can still work, but it is hard to scale and does not always match the expectations of digital first clients.

A Cromeloan style program is different. It treats the referral channel as a structured, technology led service. Your client can interact with an AI driven engine that captures their details, tests serviceability against thousands of options, and presents tailored home loan partners within minutes. Your firm sees status updates and can track how many referrals become settled loans. It behaves more like a modern platform partnership than a loose handshake.

Consider an example year. A firm sends 40 referrals through a traditional model and 40 through Cromeloan. In the traditional stream, perhaps 20 loans settle and reporting is manual. In the Cromeloan stream, you might see 26 or 28 settled outcomes, clearer status at every step, and smoother client experience. Even a small uplift in conversion can unlock significant extra referral income, especially if average loan sizes are around $600,000.

This is where concepts like mortgage referral partners and mortgage partners take on real meaning. It is not just about who you send a name to. It is about the infrastructure behind that referral. A Cromeloan style approach gives you more predictable processes, better data, and the ability to test and refine your strategy. In plain terms, it helps you treat home loans as a proper service channel for your clients, not a side hobby.

Checklist: Compare traditional vs Cromeloan style

• Ask how many lenders each model can access and how products are filtered.

• Compare how quickly clients receive their first meaningful options.

• Review the quality and frequency of referral reporting you will receive.

• Check whether the partner can support your brand with calculators or content for your clients.

What this means for Buyers

• Buyers experience a more structured, less stressful journey from first enquiry to approval.

• Faster assessments can make a real difference in tight markets, where auction dates move quickly.

• Clients get a clearer explanation of why certain products are recommended, not just a list of rates.

• Because the system is trackable, there is a better chance that important details will not fall through the cracks.

Quick Q&A

Q: Does Cromeloan replace our existing broker relationships?
A: It does not have to. Some firms run Cromeloan as their main engine while still working with a trusted individual broker for niche or legacy cases.

Q: Is a technology led approach too impersonal for our clients?
A: In practice, it frees human experts to focus on better conversations. The AI engine does the heavy lifting on data and options so people can focus on advice and decisions.

Learn how Cromeloan’s mortgage broker referral program works

By now you can see that a structured approach to mortgage referrals is about more than a few warm introductions. It is a way to deepen client relationships, protect your brand and build a repeatable income stream. Cromeloan is designed specifically for accountants and advisers who want those benefits without becoming brokers themselves.

At a high level, Cromeloan gives your firm a digital front door for loan conversations, supported by a powerful AI engine and a multi lender panel. A client exploring a $750,000 upgrade in Perth with a 15 percent deposit can move from “I wonder what we can afford” to a clear short list of options in minutes. Your team can see referral status, understand which loans settle, and link that back to the original adviser. It is a clean, trackable mortgage broker referral program tailored to your world.

Getting started is straightforward. You can explore the platform further here to understand the workflow. From there, you can discuss referral plans and pricing so that the commercial side lines up with your strategy. The result is a partners mortgage style relationship, but with all of the technology and reporting that a modern practice expects.

Over time, this can reshape how your firm talks about property with clients. Instead of treating home loans as “off to the side”, they become a natural part of your annual and mid year reviews. You ask better questions. Clients get clearer answers. Your firm earns for the value it creates, with a mortgage partner that fits the way accountants actually work.

Checklist: Next steps for your firm

• Hold an internal discussion about your goals for a home loan referral program.

• Map your current process for mortgage referral, including gaps and risks.

• Book a discovery session or demo with Cromeloan to see the workflow in action.

• Decide on a pilot period, number of advisers involved and simple success measures.

What this means for Current borrowers

• Existing clients can have their loans reviewed through a structured pathway rather than ad hoc broker chats.

• Clients under stress can be prioritised for a rate or structure review, with your firm staying in the loop.

• You can proactively reach out to borrowers who have not reviewed their loan in years, backed by a clear next step.

• Positive outcomes from the program can feed back into broader planning advice, such as using savings to build buffers or invest.

Quick Q&A

Q: How long does it take to get a Cromeloan referral channel live?
A: Set up is fast and can usually be completed within a day. That includes signing the partnership agreement, providing Cromeloan with your logo and brand colours for your brand wrapped tools (or Cromeloan can derive colours from your logo), giving your team access to the CRM so you can track referral progress, and generating the tool embed code for your website. Cromeloan can also work with your web team to help embed the tools on your site.

Q: Will we lose control of the client relationship if we use Cromeloan?
A: No. Your firm remains the primary adviser on the client’s broader financial needs. Cromeloan owns the mortgage relationship only and works collaboratively with your firm to support the client with all of their financial needs. For any future lending from that client, the original referring partner will continue to receive a share of commissions.

Disclaimer: The information in this article is general in nature and does not take into account your objectives, financial situation or needs. It is not financial, tax or credit advice. Before acting on any information, consider whether it is appropriate for your circumstances and seek advice from a licensed professional.