Brokers identify the top-performing banks for annual MPA accolade
Mortgage Professional Australia is proud to announce the best banks for mortgages in its 2024 Brokers on Banks survey.
In the past 12 months, both mortgage brokers and banks have done their best to help customers coping with a 1.25% lift in interest rates as well as the burden of a rising cost of living.
Brokers rely on banks to provide them a wide range of loan products, fast, efficient decisioning, a smooth and streamlined application process, great rates and top-notch credit policies, diversification opportunities and broker support.
Banks understand the importance of the broker channel – given how much of their lending business comes via brokers, so it’s important in a highly competitive mortgage market that they provide excellent service to brokers.
To discover the best banks in Australia for Brokers on Banks 2024, brokers across the nation were asked to rate the performance of banks in the last 12 months across 10 criteria: BDM support; brand trust; commission structure; communications, training and development; credit policy; interest rates; online platform; diversification; product range and turnaround times.
The bank that received the highest average rating across all these categories was crowned the best bank of 2024.
Brokers were also asked a range of other questions, including which banks they had given more business to in the last 12 months and why; which banks they had stopped using and why; how branks could improve their sustainable or green loan options; their views on channel conflict; what tech upgrades had enhanced turnaround times and where turnaround times had improved or become worse over the last year.
They were also asked to state their preferred bank for first home buyers, property investors, commercial finance and foreign non-residents.
Macquarie Bank was awarded the No.1 spot in Brokers on Banks 2024, the third year running it has taken the top prize.
You can discover all the winners of Brokers on Banks 2024 and a comprehensive report on how the banks fared here.
