Google Ads can generate mortgage and asset finance leads fast.

But it can also burn your budget faster than almost any other marketing channel.

The difference comes down to one thing:

Most brokers run Google Ads the wrong way.

They target the wrong searches, send traffic to the wrong pages, and have no idea what’s actually producing enquiries.

That’s why working with the best marketing agency for mortgage brokers matters — because paid traffic only works when campaigns are structured correctly from day one.

Running profitable campaigns also requires specialist strategy, which is exactly what Google Ads for brokers is designed to deliver: high-intent leads without wasted spend.

Here are the biggest Google Ads mistakes mortgage brokers make, and exactly how to avoid them (especially when running both home loan and car or asset finance campaigns).

Mistake 1: Running One Campaign for Everything

This is the number one killer of broker Google Ads performance.

Many brokers try to advertise:

• Mortgages
• Refinancing
• First home buyers
• Car loans
• Equipment finance

All inside one messy campaign.

Google doesn’t know what your ads are truly about.

Quality Score drops. Clicks get expensive. Leads become inconsistent.

Fix: Separate Campaigns by Service Type

You should always split into:

• Home loan campaigns (mortgage broker suburb keywords, refinance intent, first home buyer searches)
• Asset finance campaigns (car loan approval keywords, business vehicle finance, equipment lending searches)

Different intent requires different structure.

Mistake 2: Targeting Broad Keywords That Attract Junk Clicks

Mortgage keywords are expensive.

If you target broad terms like:

• Mortgage
• Home loans
• Interest rates

You’ll pay for clicks from people who are just researching, comparing banks, or looking for calculators.

The same applies for asset finance keywords like “car finance”, which often brings low-quality shoppers.

Fix: Focus on High-Intent Broker Keywords

Mortgage examples:

• Mortgage broker Richmond
• Refinance broker Parramatta
• First home buyer broker Melbourne

Asset finance examples:

• Car loan broker Sydney
• Business vehicle finance Melbourne
• Equipment finance broker fast approval

Intent keywords drive enquiries.

Mistake 3: Sending Paid Traffic to the Homepage

This is one of the most common budget leaks.

A borrower clicks an ad and lands on a generic homepage with no clear next step.

They bounce, and you just paid $18 for nothing.

Fix: Use Dedicated Landing Pages

Mortgage landing pages should include:

• Suburb relevance
• Reviews above the fold
• Refinance or first home buyer messaging
• A strong call to action

Example:

Ad: “Refinance Broker Parramatta” → Landing page: “Parramatta Refinance Review + Book a Call”

Asset finance landing pages should focus on:

• Speed
• Simplicity
• Shorter forms
• A clear approval pathway

Example:

Ad: “Car Loan Broker Melbourne” → Landing page: “Fast Car Loan Approval + 3-Step Process”

Mistake 4: Not Using Negative Keywords

Negative keywords block wasted spend.

Without them, Google shows your ads for irrelevant searches.

Mortgage junk searches include:

• Mortgage calculator
• Home loan rates comparison
• Bank interest rates today

Asset finance junk searches include:

• Cheap car loan instant
• Used car dealership finance
• Car loan interest rate calculator

Fix: Build a Negative Keyword List Early

Start with negatives like:

• Calculator
• Jobs
• Bank
• Rates
• Free
• Dealership
• Comparison

This alone can cut wasted spend dramatically.

Mistake 5: Treating Home Loan Ads Like Asset Finance Ads

This is a huge strategic mistake.

Borrower psychology is different.

Home Loan Leads Require Trust

Home loan clients want reassurance, expertise, and long-term guidance.

Ads should highlight:

• Suburb specialisation
• Reviews
• Experience
• Book a quick call messaging

Example angle:

“Trusted Mortgage Broker in Southbank — 5-Star Rated Support”

Asset Finance Leads Require Speed

Car loan and equipment finance clients want fast approval and quick turnaround.

Example angle:

“Car Loan Approval Fast — Broker Support Melbourne”

Different service means different emotional triggers.

Mistake 6: No Conversion Tracking (So You’re Guessing)

If you don’t track conversions, Google Ads becomes gambling.

You need to know:

• Which keywords drive calls
• Which suburb campaigns convert
• Your cost per lead
• Which service is profitable

Fix: Track the Right Actions

Every broker campaign should track:

• Phone call clicks
• Form submissions
• Booked appointments
• Lead source by campaign

Otherwise you can’t optimise.

Mistake 7: Not Optimising After Launch

Google Ads is not set and forget.

The brokers who win optimise monthly.

Monthly optimisation includes:

• Pausing expensive non-converting keywords
• Adding new negative keywords
• Improving landing page conversion rates
• Adjusting bids by suburb
• Scaling what works

Ads compound when managed properly.

Practical Broker Google Ads Setup (Mortgage + Asset Finance)

Here’s what a clean structure looks like:

Campaign 1: Mortgage Broker Suburb Leads

Keywords:

• Mortgage broker Richmond
• Mortgage broker Bondi Junction

Landing page: Suburb-specific mortgage page

Campaign 2: Refinance Intent

Keywords:

• Refinance broker Parramatta
• Refinance specialist Melbourne

Landing page: Refinance conversion page

Campaign 3: Car Loan and Asset Finance

Keywords:

• Car loan broker Sydney
• Business vehicle finance Melbourne

Landing page: Fast approval asset finance page

Campaign 4: Equipment Finance (Business Lending)

Keywords:

• Equipment finance broker
• Machinery loan fast approval

Landing page: Business finance landing page

Separate intent equals better leads and lower cost.

Final Thought: Google Ads Should Be a Predictable Lead Engine

Google Ads works incredibly well for mortgage brokers when campaigns are structured properly.

Avoid these mistakes and you’ll get:

• Better cost per lead
• Higher quality enquiries
• Suburb-level domination
• Scalable growth across mortgages and asset finance

Home loans require trust and precision.

Asset finance requires speed and simplicity.

Treat them differently, and Ads becomes one of your strongest lead channels.