Google Ads for Mortgage Brokers: What No One's Telling You

Google Ads for Mortgage Brokers: What No One's Telling You

Let’s not pretend you haven’t heard the pitch before: “We’ll get you more leads!” Cool. But more of what exactly?

The mortgage industry doesn’t run on vanity metrics. You’re not here for clicks, you’re here for qualified people with real borrowing power — and a real timeline.

That’s why Google Ads, when executed correctly, remains one of the most powerful tools in a broker’s toolbox.

Want to learn more? Book a strategy session here 

Australia vs. the World: The Market Behind the Clicks

Globally, the mortgage industry has become fiercely digital. But the Australian landscape has its own quirks:

  • According to IBISWorld, Australia's mortgage broking market was worth $2.9B in 2024, with projected continued growth due to refinancing, rate volatility, and property investor resurgence.
  • In 2023, over 69% of all Australian home loans were written by mortgage brokers — that figure is increasing.
  • Meanwhile, international markets like the U.S. are oversaturated and harder to compete in without massive spend. CPCs there regularly exceed $40–$60 per click.

In contrast, in Australia:

  • Most core mortgage-related keywords range between $10–$30 CPC.
  • Localised searches like “mortgage broker Newcastle” or “refinance Brisbane” tend to convert higher and cost less than generic terms.

Australia is a high-intent, high-conversion environment — especially if you're playing the local game right.

Why Google Ads Is a Weapon for Brokers

Google ads hotel

Not all digital channels are created equal. Social media might get you likes. Referrals are hit-or-miss. But Google Search is where people go when they’re ready to act.

  • Someone types “refinance my mortgage”
  • They’re not browsing — they’re deciding
  • That’s a hot lead — if you can get in front of them before your competitor does

This is why Google Ads works. It puts you in front of high-intent buyers who are actively searching for what you do. You’re not interrupting them — you’re helping them solve a problem they already want solved.

Types of Google Ads: What You Actually Need

Let’s demystify the four key types of Google Ads mortgage brokers can use — each with its own role:

1. Search Ads

The gold standard. You bid on keywords like “first home buyer loan” or “mortgage broker near me”. These ads show up at the top of Google right when someone’s looking for a solution. This is where most of your spend should go — and where most conversions happen.

2. Display Ads

Great for brand awareness and retargeting. These are banner ads that follow people around the internet after they visit your site. They don’t convert cold — but they do keep you top of mind when someone’s comparing options.

3. Performance Max

Google’s machine-learning ad format. It runs across Search, Display, Maps, YouTube and Gmail. Works well if your pipeline and lead data are airtight. But if your backend isn’t strong, it can blow through budget with vague targeting.

4. YouTube Ads

Ideal for building trust and positioning you as a local expert. 30-second pre-rolls that say, “You’ve got mortgage questions? We’ve got answers.” Pair this with remarketing, and suddenly you’re everywhere.

What It Actually Costs

Best Google Campaign Manager

Let’s talk numbers. Real ones.

 Expect:

  • $1,500–$5,000/month in ad spend for meaningful results
  • $10–$30 per click, depending on geo and keyword
  • $80–$300 per qualified lead depending on filters, quality, and offer
  • 5–20 leads/month per $1,000 ad spend (with proper funneling and follow-up)

Any agency offering 100 leads for $300 is feeding you recycled junk from lead farms. Not buyers. Not borrowers. Just bloat.

Why Most Agencies Waste Your Budget

Let’s be blunt: most agencies run Google Ads like it’s 2017.

Here’s what they miss:

  • No filters – You get students, tyre kickers, and people with a credit score of 450.
  • No qualification funnel – They skip screening questions. You waste time chasing ghosts.
  • No retargeting – If someone bounces from your page, they’re gone. For good.
  • No CRM integration – They give you a spreadsheet, not a system.
  • No understanding of your sales cycle – This isn’t eCommerce. Home loans take time and trust.

They treat mortgage broking like selling shoes. And that’s why you’re burning cash.

The Pipeline: Where Brokers Win (or Lose)

Market Analysis Real Estate

Let’s be clear — leads are just the start.

Your real opportunity is in the follow-up.

Here’s what a real pipeline looks like:

  • Step 1: Form filters out tyre-kickers
  • Step 2: Instant SMS/email sent to new lead
  • Step 3: Lead is added to CRM with stage tracking
  • Step 4: Booked call or appointment triggered
  • Step 5: Ongoing nurture for leads that ghosted

If you’re still relying on phone calls and Excel to manage this — you’ve already lost the lead.

A pipeline gives you leverage. You don’t need to chase. The system does it for you.

Why We’re the Ones to Build It

We’re not another “Google Ads agency”. We don’t just do traffic.

We build the system that captures, qualifies, and converts mortgage leads — and keeps them warm until they’re ready to buy.

What we bring:

  • Ads that pre-screen
  • Funnels that convert cold clicks into booked calls
  • Automations that follow up for you
  • CRMs that track stage by stage
  • And reporting that tells you the cost per deal, not just cost per click
  • We don’t build campaigns. We build engines.

Closing Thought: Attention Is Easy. Conversion Is Not.

You could buy a hundred clicks today. But what happens after?

If you don’t have the pipeline — you’re pouring water into a leaky bucket.

In a market where competition is fierce, and trust is everything, Google Ads gives you the best chance to get in front of people who are ready to act. But the real win isn’t just getting seen — it’s what happens after they click.

That’s what we build.

Ready to stop guessing and start scaling?

Want to learn more? Book a strategy session  here 

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