Lender Spotlight: Macquarie Bank

Macquarie Bank has maintained a significant presence in the residential lending space over the past five years. Insights from monthly Broker Pulse: Residential Lending surveys provide a detailed overview of the bank's performance across key metrics such as broker usage, broker experience, turnaround times, and reasons brokers consistently choose this lender.

Broker Usage

Broker participation and Macquarie’ Bank's popularity have steadily increased over the last 5 years. Starting with an average of 40 brokers responding monthly in 2019, this number more than tripled by 2024, reflecting the bank’s expanding footprint among brokers.

Key drivers of this growth include competitive offerings and consistent service quality, which led to a notable rise in both the number of brokers recommending the bank and those actively using its services. Macquarie's broker base appears to have diversified, tapping into both established and emerging mortgage market segments.

Broker Experience

The bank's Net Promoter Score (NPS), a measure of broker satisfaction, paints an equally promising picture. In December 2019, Macquarie recorded an NPS of approximately 64.1, with a high proportion of promoters (74%) and a relatively low detractor base (10%). By October 2024, the NPS had risen above 78, signalling an improving broker sentiment.

Brokers have frequently lauded Macquarie for its clear communication channels, competitive product offerings, and seamless loan processing systems. Feedback highlighted particular strengths in providing tailored solutions, which aligns well with brokers seeking bespoke products for their clients.

Turnaround Times

Efficiency has been a defining feature of Macquarie’s performance. Over the years, the bank consistently achieved some of the fastest turnaround times in the industry. Between 2020 and 2024, the average turnaround time hovered between two and three business days. This reliability has been a major factor in cementing Macquarie's reputation for operational excellence.

During periods of high demand, such as the post-pandemic lending surge in 2021, Macquarie was able to maintain competitive processing times when some competitors faced significant delays. Brokers cited this consistency as a primary reason for their loyalty.

Reasons for Choosing Macquarie

Macquarie has several factors that cause brokers to recommend the lender to their clients. The most common decision driver is turnaround times, but product pricing is a very close second.

Client circumstances and ease of use are also important factors for brokers, with client preference being the least common primary reason a broker would recommend Macquarie.

Conclusion

Macquarie Bank’s performance in the Broker Pulse survey over the past 5 years highlights its steadfast commitment to delivering value to brokers and their clients. By excelling in key areas such as efficiency, customer service, and product innovation, the bank has built a solid reputation. Looking ahead, Macquarie’s continued focus on broker needs and market dynamics will likely ensure it remains a top-tier choice in the residential lending sector.

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