Non-banks see massive gains in broker share

Agile Market Intelligence tracks broker experience and sentiment with commercial lenders they’ve worked with in the past year. The report reveals detailed broker assessments across four categories: Personnel, Products, Support, and Technology, identifying lender strengths, shortfalls, and trends in the commercial lending industry. The Third-Party Lending Report enables a better understanding of the perceived level of broker support by various parts of their proposition and tracks changes year-on-year. 

Now in its second year, the 2026 Third-Party Lending Report: Commercial Lending surveyed 723 commercial brokers to evaluate the performance of lenders they have worked with in the past 12 months. Each lender was then rated across 14 attributes spanning these four categories. In terms of broker usage, two out of the four major banks topped across the board. However, in terms of usage growth, non-banks have seen exceptional gains.

Key findings

• NAB and ANZ had the highest broker share in 2026 at 34.44 per cent and 34.16 per cent, respectively. 
• Angle Finance experienced the highest broker share growth since 2025 (+15 percentage points).
• Non-banks lead broker satisfaction ratings in the areas of technology and support.

Non-banks challenge majors in broker share

• Two major banks occupy the top spots in broker usage, namely NAB (34.44 per cent) and ANZ (34.16 per cent). 
• Non-banks follow suit with the largest broker share, specifically Angle Finance (28 per cent) and Pepper Money (25 per cent).
• While the major banks have declined in broker usage growth since 2025, non-banks saw steep positive growth in 2026.

NAB and ANZ dominate the top ranks with the largest broker share for commercial lending, both at 34 per cent. Westpac is the next most commonly used commercial lender at 33 per cent. Following are the non-banks Angle Finance and Pepper Money with a broker usage of at least 25 per cent each. Judo Bank is the most used non-major bank across the board, with a broker usage of 10 per cent. 

In terms of broker share growth, NAB and ANZ dropped from initial scores of 45 per cent and 37 per cent, respectively, down to 34 per cent for both in 2026. By contrast, the non-banks have witnessed steep positive growth this year. For instance, Angle Finance rose by +15 percentage points, Dynamoney by +12 percentage points, and Metro Finance by +10 percentage points. 

Technology and support ratings increased due to non-bank contributions

• Support ratings rose alongside gains in broker communication, settlement, and post-settlement support, while technology climbed on stronger broker portal and digital tool scores.
•  Non-bank lenders topped broker ratings in both technology (78 per cent) and support (78 per cent).

Overall, broker experience ratings grew across all four areas in personnel, technology, products, and support. Of particular note are support and technology, where several attributes grew by at least 2 percentage points. For instance, from a satisfaction rating of 73 per cent in 2025, broker portal (a technology attribute) achieved a score of 76 per cent in 2026. Another example is post-settlement (a support attribute), which grew from 73 per cent in 2025 to 76 per cent in 2026. 

Non-banks performed particularly strongly across technology and support. Both received satisfaction ratings of 78 per cent for both categories in 2026, raising the overall satisfaction levels for all lenders in those areas. In 2025, technology and support were given scores of 76 per cent and 75 per cent, respectively, whereas now they are both rated 77 per cent. 

About the report

Broker Pulse’s Third-Party Lending Report: Commercial Lending is an annual review of Australia’s commercial mortgage lenders in the past 12 months as evaluated by over 700 commercial brokers. Survey responses were collected between 17 February and 30 April 2026.

You can download the report here.