Macquarie and Bankwest perform, while small ADIs and non-banks lag

The latest Broker Pulse: Residential Lending report by Agile Market Intelligence reveals insights from our monthly survey of Australia’s mortgage brokers and highlights the key lender movements across usage, service, loan processing times and broker experience.

Broker flows

Macquarie Bank, Bankwest, and ANZ dominate broker usage
Macquarie Bank retained its position at the top, with 43% of brokers submitting deals through the lender. This demonstrates its enduring appeal due to reliable service and competitive turnaround times. Bankwest followed closely at 39%, marking a sharp rise in broker usage compared to earlier months, while ANZ remained steady at 38% usage.

Among the non-majors, ING (28%) and Suncorp Bank (27%) continued to attract strong broker interest, with their consistent service levels resonating with intermediaries. Firstmac (11%) and Bluestone Mortgages (9%) led the charge among non-bank lenders, continuing to serve as key options for brokers seeking flexible solutions for niche borrower needs.

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Decision drivers

Product pricing and client fit lead lender selection
Product pricing remained the top factor influencing broker recommendations across all lender categories. For major banks, 52% of brokers cited pricing as a core driver, closely followed by turnaround times (50%) and client circumstances (48%).

Interestingly, for non-major ADIs and non-banks, ease of use gained traction. About 31% and 28% of brokers, respectively, nominated this as a critical factor. This reflects the growing value brokers place on streamlined processes, particularly in a tight-lending and high-volume environment.

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Turnaround times

Macquarie and UBank set the pace, but delays persist at smaller players

Large ADIs
Macquarie Bank once again led the major banks with the fastest average turnaround at 2.8 business days, followed by St. George (3.4 days) and ING (3.7 days). ANZ and Suncorp trailed at 5.2 and 5.6 days respectively, with Suncorp remaining one of the slowest among major lenders.

Small ADIs
In the small ADIs category, UBank topped the list at 2.8 days, making it a standout for brokers needing swift approvals. Great Southern Bank, P&N Bank, and MyState all delivered solid performance at around 4 days. However, Newcastle Permanent and People’s Choice reported average turnaround times of 9.6 and 10.2 days, raising concerns about efficiency and broker satisfaction.

Non-ADIs
Among non-banks, Advantedge impressed with an average of 2.8 business days, matching top-performing banks. Connective Home Loans and Liberty Financial followed at 3.6 and 3.7 days respectively. At the slower end, La Trobe Financial averaged 8.7 days, making it the least responsive in this segment.

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Broker experience

Macquarie, Great Southern Bank, and Connective Home Loans win broker trust

Large ADIs
Macquarie Bank achieved the highest overall satisfaction among major lenders with a broker experience score of 92%, driven by consistent results across all journey stages. Bankwest (87%) and ING (84%) also maintained strong reputations. In contrast, Suncorp (74%) and ANZ (72%) lagged, highlighting persistent issues in communication and processing reliability.

Small ADIs
Great Southern Bank ranked highest with a 90% satisfaction score, outperforming many larger rivals. MyState (80%) and P&N Bank (78%) also earned broker approval. However, Heritage Bank scored just 58%, and People’s Choice fared even worse at 53%, underlining ongoing frustrations with service and turnaround times.

Non-ADIs
Connective Home Loans (89%) and AFG Home Loans (86%) topped the satisfaction rankings in the non-bank space. Brokers highlighted their responsiveness and smooth processes. In contrast, La Trobe Financial (67%) and Resimac (72%) received the lowest ratings, reflecting broker concerns over speed and communication.

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Broker insights on BDMs and credit teams

Macquarie leads again, while support teams remain a key differentiator
Macquarie Bank was once again ranked top for both BDM and credit assessor experience, scoring 44% and 41% satisfaction respectively. This performance outpaced all other lenders across these service pillars. CBA and ING followed closely behind for credit, while Bankwest was the standout for BDM engagement at 42%. In the non-ADI segment, Connective and AFG Home Loans again led the field across both BDM and credit team interactions.

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About the Report

The May 2025 edition of Broker Pulse is based on responses from 272 residential brokers, collected between 1 and 16 June 2025. Brokers were asked to share their experiences with the lenders they worked with throughout May, rating them across turnaround time, credit assessment, BDM interactions, and the overall broker journey. 

Broker Pulse continues to offer transparency in 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.

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