Brokers recommend Macquarie for speed, Newcastle Permanent for pricing, Liberty Financial for client circumstances

New data from Agile Market Intelligence reveals the key reasons why mortgage brokers are recommending specific lenders. This analysis highlights the lenders most commonly recommended by mortgage brokers driven by pricing, turnaround times and client circumstances.

Key stats you need to know

• 92% of brokers who recommended Liberty Financial cited client circumstances as the primary driver.
  
  
• 91% of brokers who submitted applications to Newcastle Permanent did so due to its product pricing.
  
  
• 64% of brokers who chose Macquarie Bank said their decision was based on turnaround times.

Product pricing is a primary decision trigger

• Newcastle Permanent was the most cited lender for pricing, with 91% of brokers identifying it as their main reason for recommendation. HSBC followed closely at 90%, with People’s Choice at 83%.
  
  
• Notably, the overall most commonly recommended lenders (Macquarie or ANZ, for example) are not listed within the top 10 lenders for pricing, highlighting that it isn’t the only relevant attribute when considering which lenders to recommend to borrowers.

Brokers continue to place significant weight on pricing, particularly in a rate-conscious environment. Non-major lenders like Newcastle Permanent and HSBC are clearly winning broker attention by offering aggressive, market-leading products.

“In a competitive market, sharp pricing still cuts through. Lenders offering compelling rates are likely to see immediate uplifts in broker flows, but at a cost to their margins,” said Michael Johnson, Director at Agile Market Intelligence.

Fast turnaround drives broker preference

• Macquarie Bank led the pack for turnaround times, with 64% of brokers recommending it for this reason. The next closest, Advantedge, lagged behind at 41%, followed by Bankwest (31%) and Westpac (29%).
  
  
• Major banks including NAB (28%), Commonwealth Bank (22%), and St. George (27%) performed modestly.

Speed is a clear differentiator. Macquarie's strong performance suggests a streamlined process and consistent delivery. Traditional majors continue to face challenges in meeting broker expectations for timely assessments.

“Brokers value certainty and speed. Macquarie’s consistent lead on turnaround times shows the operational advantage of integrated digital workflows,” said Michael Johnson.

Non-bank lenders stand out for complex client scenarios

• Liberty Financial was the most frequently recommended lender for client-specific needs, cited by 92% of brokers. Pepper Money (90%) and La Trobe Financial (88%) followed closely, tied with Bluestone Home Loans (88%).
  
  
• Commonwealth Bank (75%) was the only major bank to appear in the list of top 10 lenders.

Non-bank lenders continue to play a vital role in serving clients with non-standard or complex profiles. Their flexible underwriting policies give brokers confidence when handling nuanced borrower needs.

“Specialist lenders have built reputations around adaptability. For clients outside the vanilla box, they’re often the first port of call,” said Michael Johnson.

About Broker Pulse: Residential Lending

The data in this article comes from Agile Market Intelligence’s Broker Pulse: Residential Lending. The survey collected responses from mortgage brokers across Australia between April and June 2025. Brokers were asked to identify their primary reasons for recommending each lender they used in the past three months.

Broker Pulse 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.