Frequently asked questions

It’s not a subscription, not a fee, and not a gamble. It’s simply a benefit we give back to our clients for choosing us.

Yes, to be eligible for membership, your home loan must be a minimum of $250,000. If you’re unsure whether your loan qualifies, get in touch and we’ll have a quick chat.

Already with us and eyeing an investment property or a new purchase? We’ve got you, these are handled case by case for existing clients, so just get in touch and we’ll have a chat. And for everyone else, don’t worry, investment loans and purchases are coming to The Mortgage Club very soon.

The monthly prize draw is funded from trailing commission income that The Mortgage Club receives from lenders in respect of the loans we manage. This is standard broker income — lenders pay us a small ongoing commission for the life of each loan we introduce to them.

The draws continue for as long as this trailing income is sufficient to cover the prize pool and operating costs. Full details are in our Terms & Conditions.

The draw is held on the last day of every month. It’s conducted live at 7:00pm AEST and you can watch it on:

• The Mortgage Club website
• Our Facebook Live stream
• Our TikTok Live stream

The draw is completely random. Every active entry is assigned a permanent number. On draw night, numbers are selected using a fully random system — live, with no way for anyone to influence the outcome. We draw by entry number only — no names are ever shown.

Once a winning number is drawn, we contact the member directly. Prize payment is made to their nominated bank account within 2 business days.

Each draw pool is capped at 360 entries and carries a $10,000 prize. As membership grows, new pools open — each with their own draw, their own winner, and the same odds for every entry in that pool.

• 1 pool (up to 360 members): $10,000 — 1 winner
• 2 pools (361–720 members): $10,000 each — 2 winners across 2 separate draws
• 3 pools (721–1,080 members): $10,000 each — 3 winners across 3 separate draws
• And so on — every 360 new members opens a new pool with a new $10,000 prize

Your odds never decrease — and are capped at a maximum of 1 in 360. In fact, when a new pool opens, existing members in that pool enjoy even better odds until it fills up. Hit 361 members and the pool splits — suddenly you’re 1 in 180 until the new pool catches up. The more The Mortgage Club grows, the more winners there are — but your slice of the pie never gets smaller.

There is also a special Christmas draw each December with a major prize (details announced each year), as well as spot draws throughout the year at The Mortgage Club’s discretion.

Yes. There is no rule preventing the same entry from winning in multiple draws. Your entry stays active every month for as long as your loan is with us, so you’re in the running every single month.

Prize money is paid directly to the winner’s nominated Australian bank account. No gift cards, no vouchers, no cheques. Cash in your account within 2 business days of the draw.

Winners are announced publicly on our website and social channels each month — displayed as first name, first initial, and state (e.g. Sarah M. — NSW). It’s on you to check whether your number came up, so keep an eye on the draw results in your member portal and on our socials every 30th.

If you’ve won, we’ll also reach out via the phone number and email address on your account. If we haven’t been able to make contact within 30 days of the draw, the prize will be forfeited and a redraw conducted. Keep your contact details up to date in the member portal — we’d genuinely hate for you to miss out on $10,000.

The tax treatment of prize winnings is your responsibility. We recommend speaking with a qualified accountant about how a prize may affect your individual tax situation. 

The Mortgage Club’s monthly draw is conducted as a trade promotion under the Australian Consumer Law (Schedule 2 of the Competition and Consumer Act 2010). Entry is provided free of charge as a benefit of being a client — no additional purchase or payment is required to participate. The draw is conducted randomly and in accordance with ACL requirements and applicable state and territory trade promotion legislation. Full terms and conditions are available at [themortgageclub.com.au/terms].

You receive one entry automatically for every home loan application that settles through The Mortgage Club. No opt-in required — the moment your loan settles, your entry number is assigned and you’re in the next draw.

You receive one entry per settled application. If four of your loans settle through The Mortgage Club, you hold four entries in every future draw for as long as your loan is with us. More entries means better odds — and no one else’s odds are affected by you having more entries. Each entry is independent.

No. This is an important one. Each entry is completely independent. The draw pool is capped at 360 entries, and every entry in that pool has its own individual probability of being selected — exactly 1 in 360. If you hold 4 entries, you have 4 independent chances. Every other member’s single entry still has exactly a 1 in 360 chance. Your extra entries don’t reduce anyone else’s odds.

With a single entry in a pool of 360, your odds per draw are 1 in 360 — better than you might think. And over a 30-year loan that’s 360 monthly draws, giving you a cumulative probability of winning at least once of over 60%. The longer you’re a member, the better your chances get.

Your entry stays active in every draw for as long as your loan is held with The Mortgage Club. If you refinance away or your loan is discharged, your entries will be deactivated from the following draw.

Your entry number is a unique permanent number assigned when your first loan settles. It never changes. You can find it in your member portal dashboard — it’s also your referral number if you want to refer a friend by phone.

Two ways:

• Share your referral link — found in your member portal. When your friend clicks it, the form pre-populates your details. They just enter their name, phone, and email and we’ll be in touch.
• Call us — quote your permanent entry number (which doubles as your referral number) when calling to refer someone.

Your bonus entry is awarded once your referred friend’s loan settles through The Mortgage Club. It will appear in your member portal and be active for the next scheduled draw after settlement.

You get one bonus entry for each application your referred friend settles. If they settle three loans, you receive three bonus entries. These are in addition to your own permanent base entries.

No limit. Refer as many people as you like. Every one that settles earns you a bonus entry per application they bring.

Referral bonus entries are active for 3 months from the date they are awarded. After 3 months, the bonus entry expires and is removed from future draws. Your permanent base entries are unaffected and remain active for as long as your loan is held with The Mortgage Club.

If you run a business and want to get your brand in front of thousands of Australian homeowners, we’d love to hear from you. Partner listings are free to apply for — premium and exclusive placements are available for brands looking for more visibility. Get in touch with our team by calling us or emailing partner@themortgageclub.com.au

Any legitimate Australian business with an active ABN, appropriate licensing for your industry, and a product or service relevant to our member base. We work with brands across retail, travel, health, food, auto, entertainment, trades and more — but we do regularly vet every application.

If you’re a tradesperson or service provider, you’ll need to hold the relevant licences and insurances required in your state or territory (e.g. a licensed electrician, a registered builder, a fully insured plumber). We’re not looking for the cheapest option — we’re looking for businesses our members can actually trust.

If your customers include Australian homeowners and you run a legitimate, properly licensed operation, there’s likely a fit. If you’re unsure whether you qualify, just get in touch and we’ll have a conversation.

The Mortgage Club reserves the right to decline any partner application or remove any existing partner from the directory at any time, at our sole discretion — including where we determine that a business no longer meets our standards, has received complaints from members, has allowed their licences or insurances to lapse, or where we consider the association to be inconsistent with the values of The Mortgage Club. Partner listings are a privilege, not a right.

Absolutely. A lot of our members are self-employed or run their own businesses. If you’re a Mortgage Club member and also a business owner, you can apply to list your business in the partner directory — it’s a great way to get exposure to a growing network of clients.

Yes — and that’s exactly the idea. Member-exclusive offers tend to perform better because they feel special. We’ll work with you to craft an offer that resonates.

Once your loan settles, you’ll receive login credentials for the member portal. Head to the Partners page and log in to unlock all available discounts. Each partner tile shows the discount and a link to access the offer.

Discounts span a wide range of categories including retail, travel, health & fitness, food & dining, auto, and entertainment. We are continually growing our partner network and adding new brands. Full details are visible in the member portal once you’re logged in.

Most partner discounts are available Australia-wide, both online and in-store depending on the brand. Individual partner details including availability and any state restrictions are shown on each offer tile in the portal.

Yes. Partner discounts are subject to the terms of each individual partner and may be updated, changed, or removed at any time. We aim to give members as much notice as possible when offers are ending, but this isn’t always possible as it depends on the partner’s own decisions.

You can log in at themortgageclub.com.au/login using the credentials sent to you when your loan settled. The portal uses two-factor authentication (2FA) for security.

If you haven’t received your credentials or are having trouble logging in, contact us at hello@themortgageclub.com.au.

In the member portal you can see:

• Your permanent entry number
• Your total entries in the next draw (base + referral bonus entries)
• The total number of entrants in the current draw pool
• A countdown to the next draw
• Your referral link and referral history
• Your draw history (past draws you participated in and outcomes)
• All member partner discounts

You can update your contact details in the Profile section of the member portal. Keeping your details current is important — it’s how we contact you if you win.

If your loan is discharged or moved to another lender, without using the services of using the The Mortgage Club / Hero Finance Pty Ltd, your membership and draw entries will be deactivated at the end of the current draw month. You will no longer be included in future draws, and partner discount access will be removed. Your account data is retained in accordance with our Privacy Policy.

Absolutely — and it’s a smart move. Refinancing isn’t a one-off event, it’s an ongoing strategy for keeping lenders honest and making sure your rate stays competitive. The Mortgage Club and Hero Finance have access to over 60 lenders, so if there’s a solution in the market, we’ll find it.

And the good news — your existing entries stay active regardless of how many times you refinance through us. You’re in the Club, and you stay in the Club.

The Mortgage Club currently specialises in refinances — if you have a home loan with another lender and want a better rate, that’s our sweet spot right now.

That said, if you’re already a client and you’re looking at a purchase, investment loan, or something more complex, we’re absolutely here to help. These are handled case by case, so get in touch and we’ll have a conversation about what’s possible.

It depends on your current rate and loan balance, as well as your individual circumstances and financial position — but for many borrowers the savings can be significant. Use the savings calculator on our homepage to get an estimate based on your current loan details.

Keep in mind this is a general estimate only and not financial advice. We’ll give you a proper assessment once we review your situation.

We work with a wide panel of lenders through the Finsure Finance & Insurance Pty Ltd aggregation group. This gives us access to major banks, second-tier lenders, and specialist lenders — meaning we can compare a broad range of options to find the right fit for your situation.

No. There is no charge for an initial loan assessment or consultation. We are paid by the lender if and when your loan settles — there is no upfront fee to you for our broking service.

Refinancing timelines vary depending on the lender and your individual circumstances, but most refinances settle within 4 weeks from application. We’ll keep you updated throughout the process and aim to make it as smooth as possible.

Discounts span a wide range of categories including retail, travel, health & fitness, food & dining, auto, trades, services and entertainment. We are continually growing our partner network and adding new brands. Full details are visible in the member portal once you’re logged in.

Most partner discounts are available Australia-wide, both online and in-store depending on the brand. Individual partner details including availability and any state restrictions are shown on each offer tile in the portal.

Yes. Partner discounts are subject to the terms of each individual partner and may be updated, changed, or removed at any time. We aim to give members as much notice as possible when offers are ending, but this isn’t always possible as it depends on the partner’s own decisions.