Over 1 in 2 mortgage brokers recommended ANZ in June 2025

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

ANZ, Macquarie and Wespac dominate broker usage
ANZ overtakes to the top position with 52% of brokers submitting deals through the lender. Macquarie places second with a consistent 43% market share. This demonstrates its enduring appeal due to reliable service and competitive turnaround times. Westpac joins them at third with 36% broker usage, rising via an uptick from the previous month.

Among the non-majors, Bankwest (25%) and St. George Banking Group (18%) attracted strong broker interest, with their consistent service levels resonating with intermediaries. Liberty Financial (10%) and Pepper Money (10%) led the charge among non-bank lenders. These key options for brokers seeking flexible solutions for niche borrower needs remains a competitive space.

Decision drivers

Client fit and product pricing lead lender selection
Client circumstances, together with product pricing remained the top factors influencing broker recommendations across all lender categories. For major banks, 72% of brokers cited client circumstances as a core driver, closely followed by product pricing (48%) and client preference lags behind (33%).

Interestingly, for non-major ADIs and non-banks, client preference gained some traction. About 34% and 13% (double its previous 6%) 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.

Turnaround times

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

Large ADIs
Macquarie Bank once again led the major banks with the fastest average turnaround at 1.5 business days, followed by Bankwest (3.0 days) and Commonwealth Bank (3.1 days). ANZ and Suncorp trailed at 4.6 and 4.7 days respectively, but showed improvement from their previous month’s numbers.

Small ADIs
In the small ADIs category, UBank topped the list at 1.9 days, making it a standout for brokers needing swift approvals. Beyond Bank and MyState delivered solid performance in around 3.0 and 3.3 days, respectively. However, Newcastle Permanent and People’s Choice reported average turnaround times of 10.8 and 11.1 days - even longer than last month’s, raising concerns about efficiency and broker satisfaction. Heritage Bank averaged a staggering 17.0 days.

Non-ADIs
Among non-banks, Connective Home Loans impressed with an average of 2.8 business days, matching top-performing banks. Pepper Money and Advantedge were equally impressive at 3.1 and 3.2 days respectively. At the slower end, La Trobe Financial averaged 7.1 days, making it the least responsive in this segment, despite improvement from last month.

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 95%, driven by consistent results across all journey stages. Bankwest (93%) and NAB (87%) also maintained strong reputations. In contrast, Suncorp (79%) and ANZ (75%) lagged, highlighting persistent issues in communication and processing reliability.

Small ADIs
P&N Bank rose to the highest with a 95% satisfaction score, outperforming many larger rivals. Beyond Bank (92%) and Great Southern Bank (87%) also earned broker approval. However, Heritage Bank scored just 59%, and People’s Choice fared even worse at 46%, underlining ongoing frustrations with service and turnaround times.

Non-ADIs
Connective Home Loans soared with 97% satisfaction and AFG Home Loans came in second at 88%, topping the satisfaction rankings in the non-bank space. Brokers highlighted their responsiveness and smooth processes. In contrast, La Trobe Financial (69%) and Firstmac (77%) received the lowest ratings, reflecting broker concerns over speed and communication.

Broker insights on BDMs and credit teams

ME Bank and Bendigo Bank lead the pack, while credit assessment teams remain a key differentiator
ME Bank and Bendigo Bank ranked top for both BDM and credit assessor experience, respectively, scoring 100% satisfaction. This performance outpaced all other lenders across these service pillars. Macquarie again performed well for both BDM and credit assessor experience (96% and 98% satisfaction, respectively). In the non-ADI segment, Connective and AFG Home Loans again led the field across both BDM and credit team interactions.

About the report

The June 2025 edition of Broker Pulse is based on responses from 282 residential brokers, collected between 1 and 16 July 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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