They have until October 15 to share their feedback about the last lenders they have done business with
Mortgage brokers are once again invited to provide feedback for Smart Money People’s Mortgage Lender Benchmark.
The financial services review site has opened its doors for intermediary feedback to be compiled for the 11th edition of the Mortgage Lender Benchmark – a bi-annual independent research study aimed at highlighting which lenders are currently providing the best service levels to mortgage brokers and their customers.
The benchmark also focuses on helping lenders understand what brokers really think about them and how they compare with other lenders. It delivers actionable insight and direct feedback that enable lenders to evaluate and develop their proposition.
Within the study, brokers are asked about lenders’ criteria, speed, eligibility, communication, and relationship managers. They are also asked to share what they like about each lender and what they could do better.
From today, September 26, until October 15, mortgage brokers can share their feedback about the last five lenders they’ve done business with, be it banks, building societies, specialist, and lifetime lenders. The research will also ask brokers to rate the technology they use, including criteria and sourcing systems.
The results of the H2 2023 survey are planned for release in November 2023.
In the most recent Mortgage Lender Benchmark, released in June 2023, over 770 brokers gave Smart Money People their feedback on 113 lenders. The benchmark also contained detailed analysis on 53 individual lenders, providing a unique broker insight on banks, building societies, specialist, and lifetime lenders.
The June 2023 Benchmark found overall satisfaction with lenders was up by 4% on the H2 2022 report, to 83.4%, the highest average rating recorded by Smart Money People. The average net promoter score for all lenders within the benchmark was also up by 12.9 points on the H2 2022 figure at +34.
“The mortgage market has been in considerable change for over 12 months now, and so, intermediary advice remains as important as ever,” commented Jacqueline Dewey (pictured), chief executive at Smart Money People.
“Brokers need to know that lenders will deliver on their promises, which is why our Benchmark research examines which lenders are currently providing the best service levels to mortgage brokers and their customers.
“It’ll be extremely interesting to see if brokers remain as satisfied as they were with lenders six months ago, especially after the introduction of the Consumer Duty regime at the end of July.”
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