All four major banks now listening to broker feedback

For only the second time on record, a larger proportion of brokers used the major banks instead of non-major banks in July as the latter’s popularity tumbled, new data has revealed.

Lender BDMs grew their satisfaction scores to record highs in July but not all lenders were given a reason to celebrate, the latest monthly Broker Pulse survey has found.

The banks most commonly used by brokers slashed their turnarounds to five days in July for the first time on record, according to new data.

The proportion of brokers satisfied with their experience at the larger banks climbed to a record high in June, according to new data.

The banks less commonly used by brokers slashed their turnaround times to seven business days in June, the first time since September 2021, according to new data.

Lender BDMs and credit assessors have continued to rate highly among brokers, who assigned them the highest satisfaction score on record in June, new data has revealed.

Despite variable interest rates having risen month-on-month, the price of bank mortgages is an increasingly attractive factor for brokers when recommending banks to their clients.

Satisfaction with lender BDMs declined for the second consecutive month in May while credit assessor scores dropped across eight out of nine non-banks, according to new data.

The three-month average net promoter score to May improved at three major banks, while ANZ toppled Macquarie Bank to become the second-most used lender by brokers, according to new data.

A new broker survey has revealed that Australia’s major banks are continuing to improve their overall broker experience ratings.

Business development managers at the non-major banks are outperforming their major and non-bank counterparts, according to a new broker survey.