NAB, ANZ maintain lead in commercial mortgage and business loan flows

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

Broker Flows

Competition remains tight between ANZ and NAB for the top spot in commercial mortgages and business lending, while Metro Finance leads broker flows in asset finance.

Commercial mortgages

ANZ continues to lead the pack in the commercial mortgage space, as 30.2%of brokers lodge loan applications with the major bank in February. NAB follows closely at 29.7%, missing the top spot by a slim margin. At 3rd and 4th place were CBA and Westpac, who received applications from roughly 19% of brokers each. Non-banks, La Trobe Financial and Liberty Financial, trail these majors at 5th and 6th place, as applications were coursed through by 12% and 10% of brokers, respectively.‍

Business loans

NAB and ANZ also demonstrate strong market coverage in the business loan space, as 23% of brokers, respectively, lodged loan applications to these majors. Westpac trails 9 percentage points behind NAB and sits at 3rd place, while Commonwealth Bank, at 4th place, accounts for 13% of business loan applications. Mid-tier bank, Judo, and non-bank, Prospa, both trail closely behind these majors, as roughly 12% of brokers, respectively, report sending loan applications to the lender.

Asset finance

Non-ADI lender Metro Finance leads the asset financing space after displacing Angle Finance, with 33% of brokers reporting they lodged an application to the provider in February, while Westpac remains consistent at 2nd place, maintaining 32% of broker flows. Formerly the top go-to provider for asset financing, Angle Finance is now at 3rd place, with 31% of brokers submitting loan applications to the lender. Majors NAB and CBA placed 8th and 10th, while the rest of the top 10 asset financing providers were non-ADIs.

‍Turnaround times

Commercial mortgages‍

On a 3-month rolling average basis, Macquarie maintains its top rank in terms of processing speed, as the mid-tier ADI finalises commercial mortgage applications within 2.9 days on average. Non-ADI Pepper Money sits at 2nd place, with a processing speed of 4.6 days, while ORDE Financial and Liberty Financial tie at 3rd place at an average processing speed of 5.0 days. Majors, CBA, Westpac, and ANZ trail closely behind these smaller lenders despite having substantially more applications in their queue, reaching a final decision after between 5.2 and 5.5 days on average. Among majors, NAB had the slowest processing speed, averaging 6.1 days in the last 3 months, and exceeding the major banks’ average processing time of 5.5 days.

Business loans

Lenders generally processed business loans more quickly than commercial mortgage applications, with processing times averaging 6.0 days among majors, 5.2 days among mid-tier banks, and 2.4 days among non-bank lenders.
Leading the pack was non-ADI Moula, finalising business loan lodgments at 0.7 days on average over the last 3 months. Dynamoney, Shift, and Prospa ranked 2nd, 3rd, and 4th place, respectively, maintaining processing times all above non-bank lenders’ 3-month averages. The Big Four banks, CBA, Westpac, ANZ, and NAB, sat at the bottom of the top 10 lenders, after brokers reported turnaround times of 5.5, 5.8, 6.0, and 6.4 days, respectively. 

Asset finance

Commercial asset financing applications have benefitted from quick turnarounds in the last 3 months, with majors reaching final decision in 2.5 days, non-majors in 1.5, and non-ADIs in 1.3 days. Non-banks led in processing speeds, as Firstmac, Autopay, Resimac, Pepper Money, Capital Finance, and Prospa all processed applications in less than 1 business day. Metro Finance, which received the most broker applications for asset financing, closed applications within 1 day on average, alongside Lumi, NOW Finance, and Flexi Commercial.

Broker insights on BDMs and credit teams

Mid-tier ADIs left brokers the most satisfied over the last 3 months, as Judo, Macquarie, and Suncorp received satisfaction ratings of 95%, 94%, and 92%, respectively. Among non-banks, Metro Finance, which also received the highest asset financing applications, received the highest satisfaction rating of 93%, followed by Flexi Commercial and ORDE Financial at 92 and 91%, respectively. Majors, on the other hand, received 83.5% satisfaction rating on average, as ANZ received 87%, Westpac 86%, NAB 84%, and CBA ranked last with 77% BDM satisfaction rating.

The generally higher satisfaction ratings among mid-tiers and non-bank lenders carried over to the assessment stage. Brokers were the most satisfied with ING, which got a 100% satisfaction rating, while Capital Finance and St. George ranked 2nd and 3rd place among mid-tier banks, receiving 94% and 92% satisfaction rates, respectively. Bendigo Bank fell noticeably behind its peers after only 59% of brokers reported they were satisfied with the bank’s credit assessment process. Among non-bank lenders, Flexi Commercial placed first at 95%, followed by Metro Finance and Money Tech, which both received a 92% approval score. Meanwhile, the majors lagged behind top-performing mid-tier banks and non-bank lenders. Westpac emerged best among the 4 lenders at 87%, while NAB and CBA trailed 6 percentage points behind at an approval rating of 81%. Lastly, as opposed to being the top-rated bank for BDM performance, ANZ placed last in the assessment segment of the loan application process, with only 69% of brokers stating they were satisfied.

About the report

Broker Pulse launched a survey which gathered responses from 122 active commercial brokers, collected between the 1st and 25th March  2026. Brokers were asked to share their experiences with the lenders they worked with throughout February, 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.

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