The major banks edition of the Third-Party Lending Report give lenders visibility on broker perceptions towards ANZ, Commonwealth Bank, NAB and Westpac in direct comparison.
The questionnaire for this research is conducted in partnership with The Adviser over February and March each year via The Adviser’s annual lender survey with the results available from May. This questionnaire surveys active loan writers and mortgage broker across Australia to uncover their perceptions towards the major banks across a range of attributes covering product, support, technology and commission. Additionally, the questionnaire engages brokers to highlight the importance of each of the attributes in their decision to select a lender in write business with.
The results of the questionnaire are analysed by our market research professionals to produce a comprehensive report that details the performance of each lender across each of the performance attributes. These perceptions coupled with the priorities of brokers creates a robust market intelligence report that can be utilised to review strategic, marketing and operations to achieve the lender’s desired outcome within the third-party distribution channel.
“For the second consecutive year, results from Momentum Intelligence’s Third-Party Lending Report – Major Banks suggest that brokers’ rated satisfaction with the major lenders has declined…ANZ was again rated by Australian brokers as the best of the four big banks.”
This year’s Third-Party Lending Report for the major banks shows that the outlook is ominous for the large institutions with brokers satisfaction diminishing for the second year. In 2018, the institutions felt the heat of the royal commission and the increasing prominence of the second tier ADIs and non-bank lenders resulting in poor ratings across many of the performance attributes. The ever-changing compliance landscape and the increasingly competitive market of home loan origination are forcing lenders to make sure they understand the needs of brokers to continue the growth in their mortgage portfolios.
Number of respondents: ###
Lenders included: ANZ, Commonwealth Bank, NAB, Westpac