ANZ and NAB keep largest share of commercial mortgage, business loan applications; non-banks maintain quick turnarounds

Broker Flows

ANZ captures the largest share of commercial mortgage applications, NAB leads in business loan applications, while Agile Finance takes the majority of asset finance loans

Commercial Mortgage

The Majors kept the largest share of commercial mortgage and business loan applications in February, based on 3-month rolling average data. ANZ captured the highest broker share at 32%, closely followed by NAB at 29%. Both banks beat CBA and Westpac by a significant margin, as the latter captured only 19% and 18% of brokers, respectively.

Business Loans‍

Brokers coursed the largest share of business loan applications to NAB, with the Major capturing 26% broker share, while ANZ received the 2nd largest share at 22% broker usage rate. Unlike last month, however, when all the Big 4 ADIs captured the largest broker share, non-ADI, Prospa now ranked 3rd with 16%  broker share, while Westpac and CBA followed, receiving 15% and 14% of broker submissions, respectively. 

Asset Finance

Angle Finance narrowly beat Westpac to 1st place in terms of broker usage rates for asset financing applications, with both capturing roughly 32% broker share each. Non-ADIs, Metro Finance and Pepper Money followed at 27% and 23%, respectively, while Flexi commercial ranked 5th at 20% broker usage.

Turnaround times

Mid-tier ADI, Macquarie, maintains top speed for commercial mortgage processing, while non-ADIs maintain shortest turnarounds for business loans and asset finance applications.

Commercial mortgages

Since January, Macquarie further slashed processing time over a 3-month rolling average, now sitting at 2.9 days average turnaround, while Pepper Money climbed to 2nd place, with a 4-day average processing time. ANZ slid to 3rd place even after an improved processing time of 4.7 days on average. Unlike last month, ANZ is now the only major bank to make it to the top 5 speediest lenders to process commercial mortgages. Meanwhile, other majors, CBA and Westpac are further down the list at processing times of 5.0 and 5.2 days, respectively, while NAB  exhibit a slightly longer average processing, at 5.7 days.

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Business loans‍

For business loans, non-banks continue to take the lead in processing, with OnDeck, Dynamoney, and Prospa, maintaining their rankings since last month. Despite keeping their spots and outpacing Authorised Deposit-taking Institutions (ADIs), the increase in application volumes for these lenders are noticeably starting to take a toll on processing speed. OnDeck, for instance, rose from 0.9-day average turnaround to 1.5 days.

While still far behind non-ADIs, BOQ showed the most notable improvement in processing speed, from 7.3 days last month to 4.9 days in February. As for the majors, CBA shrunk its processing speed to 4.8 days on average despite increased application volume, while Westpac and NAB turnaround times swelled to 5.6 and 5.8 days, respectively. Meanwhile, ANZ, stable at 6.1-day average turnaround, lagged behind at 13th place. 

Asset Finance

This month, 3-month average turnarounds remain shortest among asset finance lenders, with Autopay maintaining top rank at 0.8-day processing and Metro Finance and Capital Finance now tied at 2nd place at 0.9-day average turnaround. Meanwhile, Angle Finance, which bested all other lenders in terms of broker usage rate, sits at 7th place, with 1.2 days processing time. Among majors, Westpac and CBA both exhibited improved processing speeds at 1.2 and 3 days, respectively, while NAB’s turnarounds swelled further from 3.9 to 4.0 days on average.

Broker insights on BDMs and credit teams

In terms of BDM experience satisfaction, non-bank lenders and mid-tier ADIs showcased higher scores compared to the majors, but Australia’s Big 4 all exhibited improved BDM satisfaction ratings on a 3-month rolling average. Westpac BDMs had the highest share of satisfied brokers at 85%, followed by NAB at 83%, ANZ at 81%, and CBA at 77%. Among mid-tier banks, St. George slid to 3rd place despite a stable, 94% satisfaction rating. The ADI was outpaced by Judo and Macquarie, which left 97% and 100% of brokers satisfied. Meanwhile, Assetline BDMs remain the best-performing among non-ADIs, keeping its 100% satisfaction rate this month.

When it comes to credit assessment satisfaction over the last 3 months, Westpac leads the majors with an 87% share of satisfied brokers. NAB follows with 82% of satisfied brokers, while CBA and ANZ rank 3rd and 4th with 78% and 69% satisfaction rates, respectively.

Evidently, mid-tiers outperformed both the major ADIs and non-ADIs this month, based on 3-month rolling average data. St. George Banking Group leads at 100% satisfaction rating, followed by Macquarie Bank at 95% and Capital Finance and ING, which both sit at 94%. Among non-bank lenders, the top 9 best-performing lenders in credit assessment all scored 90% and above, with Autopay leading the pack at 95%.

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About the report

Broker Pulse launched a survey which gathered responses from 123 active commercial brokers, collected between the 1st and 24th February 2026. Brokers were asked to share their experiences with the lenders they worked with throughout October, rating them across turnaround time, credit assessment, BDM interactions, and the overall broker journey. 

Broker Pulse is a monthly survey of residential and commercial mortgage lenders conducted by Agile Market Intelligence. It is a community-driven knowledge base of lender performance that offers transparency to the market by surfacing these collective insights from the broker community. This empowers brokers to make informed decisions and enables lenders to benchmark and improve performance.

Participating brokers receive access to a bird’s-eye view of the lender benchmarking data each month. To sign up or for more information visit www.brokerpulse.com.au.