Lender scores a three-peat as more mortgage brokers than ever turn to non-banks
Bluestone has been named Australia’s top non-bank lender for the third consecutive year in MPA’s Brokers on Non-Banks 2026 survey.
The Sydney-based lender took gold in seven of the 10 judged categories and silver in the other three, medalling in every one. Brokers also named Bluestone their preferred non-bank in all seven tracked lending categories, including commercial lending for the first time.
“We’re proud of this result, but we see it as motivation rather than a milestone,” said Tony MacRae, chief commercial officer at Bluestone.
The race has tightened, though. Bluestone’s lead over second place narrowed to 0.25 points, down from 0.86 in last year’s Brokers on Non-Banks results.
MA Money surges into second place
MA Money made the biggest jump of the year, rising from ninth in 2025 to second with a score of 4.04. It collected five silvers and two bronzes.
Tim Lemon, national sales manager at Sydney-based MA Money, credited a stronger business development manager (BDM) team, a 48-hour service level agreement and direct access to credit analysts.
“Ultimately, credibility comes from consistently delivering what you say you will, and I think this result reflects the trust we’ve built with brokers,” Lemon said.
Pepper Money placed third on 3.96, narrowly ahead of Thinktank on unrounded scores of 3.964 and 3.955. Liberty, second in 2025, slipped to fifth. Prospa took gold for turnaround times, Resimac for interest rates and Pepper Money for brand recognition.
Why are brokers turning to non-bank lenders?
BDM support, credit policy and turnaround times have been brokers’ top three priorities every year since 2024. Bluestone took gold in the first two.
The survey found over 72% of brokers sent more loans to non-banks than in the previous year, up from around 70% cent in 2025. It is the third straight annual rise. Bank credit tightening is now the top reason brokers choose a non-bank lender.
Rising volumes have come at a cost. Nearly one in four brokers said non-bank turnaround times worsened over the past year, up from just 7.85% in 2025.
“The key challenge will be balancing growth with service delivery,” said Tanya Sale, chief executive of Sydney-based aggregator outsource Financial.
Discover the full Brokers on Non-Banks 2026 rankings and report now
