Yes. Loan Lounge holds Australian Credit Licence 515608, has traded since 2015, and has an office you can walk into at Unit 502, 180-186 Burwood Road. You can verify the licence yourself on ASIC’s professional registers in about a minute.
Current as at September 2026.
Quick answer: yes. Loan Lounge holds Australian Credit Licence 515608, it has been trading since 2015, it has an office you can walk into at Unit 502, 180-186 Burwood Road, and you can check the licence yourself on ASIC‘s professional register. This page tells you how to do that check and what else to look at, because “trust me” isn’t a reason to hand anyone your payslips.
How to check a broker’s licence (ours or anyone’s)
A business arranging home loans in Australia has to either hold an Australian Credit Licence or operate as a credit representative of someone who does. Moneysmart‘s advice is to search ASIC’s Professional Registers before you meet a broker, under “Credit Licensee” or “Credit Representative”.
Go to the ASIC Connect professional registers, pick Credit Licensee from the drop-down, and type 515608. You’ll see the licence holder, the date it was granted and whether it’s current. Do that for us. Do it for the next broker you talk to as well.
You should also get a copy of the broker’s credit guide early on. It sets out the licence, how the broker is paid and how to complain. Ask for ours if it hasn’t been sent to you.
How we’re paid, in numbers
We don’t charge you for arranging a residential home loan. The lender pays us: an upfront commission when the loan settles, then a trail commission each month for as long as the loan stays with that lender. The lender pays the broker a commission, and we set out the published ranges in Why choose a broker over going direct to a bank. Brokers are required by law to tell you about the commission they may receive, so if a broker is vague about it, that’s your answer.
If a lender claws back commission (they take back some of the upfront when a loan is repaid within roughly the first 18 months to two years), that cost sits with us. The MFAA is clear that brokers can’t pass it on to you.
One more rule worth knowing. If a broker ever wants to charge you a fee directly, they must give you a written quote and you must sign it before any work starts. We rarely do this in residential lending, and if we ever did you would see it in writing first.
What is the best interests duty?
Book a time with a Loan Lounge broker — no cost, no obligation.
Since 1 January 2021 mortgage brokers have had a legal duty to act in your best interests when recommending a loan. It’s in Part 3-5A of the National Consumer Credit Protection Act and ASIC explains it in Regulatory Guide 273. Bank branch staff don’t carry that duty when they sell their own bank’s products.
What happens if something goes wrong
Talk to your broker first. If that doesn’t fix it, complain to us in writing. If it still isn’t resolved, you can take it to the Australian Financial Complaints Authority, which describes itself as free, fair and independent. Moneysmart sets out that path.
What do the reviews say?
Our Google reviews are public and we embed them on the site rather than curating a page of our own. Read the middling ones too, not just the five stars. What we’d look for in a broker’s reviews is whether people say they were kept informed while the loan was in progress, because that’s where broking goes wrong when it goes wrong. A common thread in ours is clients being sent progress updates without having to ask, which is what we aim for and don’t always manage.
Who’s behind it
Nathaniel Truong founded Loan Lounge in 2015 after working at Commonwealth Bank and ANZ. He holds a Bachelor of Commerce, an Advanced Diploma in Financial Planning, a Cert IV in Mortgage Broking and an Executive MBA from UNSW. There are six other brokers, three of them Chartered Accountants. Profiles with qualifications are on the site under each broker’s name.
On 4 October 2025 the business received the award for Excellence in Business and Community Impact at the Australian Christian Business Awards. That award was partly for the giving: 10% of our trail income, every month since 2015, goes to organisations working against human trafficking. It’s over $6,000 a month now. If you’re wondering whether that costs you anything, it doesn’t. The lender pays the commission either way.
What we won’t tell you
We won’t quote you a rate before we’ve seen your situation. We won’t tell you that you’re approved before a lender has said so. We won’t say we’re “independent”, because a broker paid by lenders isn’t. If a broker anywhere promises guaranteed approval, no credit check, or the lowest rate in the market, walk out, licensed or not.
If you want to see for yourself, call 02 9037 2825 or book a time with a broker. Bring your ID and a rough idea of what you’re trying to do. You can check the licence while you’re waiting.
Frequently Asked Questions: Is Loan Lounge Legit? ACL, Reviews and How We Work
How do I check a mortgage broker’s licence in Australia?
Search ASIC Connect’s professional registers under Credit Licensee or Credit Representative. For Loan Lounge, search 515608. You will see the holder, the grant date and whether it is current.
Do mortgage brokers have to act in my best interests?
Yes, since 1 January 2021, under Part 3-5A of the National Consumer Credit Protection Act. Bank staff selling their own bank’s products do not carry that duty.
What if something goes wrong with my broker?
Raise it with the broker, then in writing with the firm. If it is still unresolved, take it to the Australian Financial Complaints Authority, which is free to consumers.
Related reading
- About Loan Lounge: Who We Are and Why It Matters
- Meet the Loan Lounge Team
- Financing a Difference: Our Mission, Explained
- More on about Loan Lounge
Book a broker or find a broker near you. Or call the Burwood office on 02 9037 2825.
General information only. This article does not take your objectives, financial situation or needs into account, and is not financial product, tax or legal advice. Lending criteria, fees and rates vary by lender and change without notice. Loan Lounge, Australian Credit Licence 515608.