Macquarie leads in broker usage, turnaround time, and broker and credit assessor experience

Brokers have reported that the smaller banks are suffering from slower turnarounds, according to the latest Broker Pulse survey.

BDMs at the smaller banks and non-banks rated well among brokers in May and contributed to overall record-high satisfaction.

While the risk appetite of major banks shrank, more brokers have been using non-banks to help meet client circumstances.

Brokers’ usage of major banks rose to its third-highest level on record in April, driven largely by client circumstances.

Lender turnarounds have accelerated to near-record speeds, with one bank taking just 24 hours to reach an initial credit decision, according to brokers.

The proportion of brokers using non-banks for their clients climbed considerably last month, largely driven by client circumstances.

Broker usage of the major bank has been below 40 per cent since March 2023 and declined again in January, according to new data.

Turnaround times have reached new record speeds at the biggest banks, while small ADI and non-bank turnarounds have also reduced, according to new research.

The latest Broker Pulse survey has revealed which lender was most commonly used by the broker channel in the year 2023.

For the first time in 15 months, more brokers are using the big four banks than non-majors, according to a new survey.

Rising rates and increasing house prices are impacting borrowings, according to a new survey, with more than a third of brokers stating lodgement activity declined in August.

The leading survey that allows brokers a bird’s eye view of lender performance is celebrating its fourth anniversary this month.